Business

June 9, 2011

New Gulf of Mexico energy finds for Exxon

Exxon Mobil Corp has made two big new oil discoveries and a natural gas find in the deepwater Gulf of Mexico, news that underscores the importance of the prolific basin to US crude output. Oil and gas exploration in the Gulf was halted by the US…

June 9, 2011

Fitch to review US rating if no debt ceiling deal

Fitch Ratings says it might downgrade US debt if lawmakers fail to increase America's borrowing limit before the government runs out of money in August. The rating agency, based in New York, said yesterday that it will put the debt on watch for a…

May 30, 2011

Caribbean Airlines, Air Jamaica deal finally signed

The shareholder agreement between Caribbean…

May 30, 2011

IMF may block aid payments to Greece, Juncker warns

The chairman of the eurozone finance ministers has warned that the IMF may not release the next payment in Greece's bail-out package.

May 30, 2011

Yuan at record high versus dollar after Treasury report

China's yuan has hit a record high against the US dollar after the US Treasury department said the Chinese currency was undervalued but not manipulated. The People's Bank of China (PBOC) fixed the yuan's mid-point at 6.4856 against the US dollar…

May 30, 2011

Barclays ‘considering buying regional Spanish bank’

Barclays is considering buying one of Spain's regional savings banks, it has been reported. It comes after the Spanish government said Barclays' boss Bob Diamond had met Prime Minister Jose Luis Rodriguez Zapatero in Madrid last week. The Sunday…

May 30, 2011

Philippines economy reports ‘modest’ 4.9% growth

Economic growth in the Philippines slowed down in the first quarter of 2011 due to lower government spending and a slowdown in global trade. The country's economy grew by a 'modest' 4.9% in the three months to March compared with the same period…

May 30, 2011

RBS launches China markets joint venture

Royal Bank of Scotland has launched a joint venture with a Chinese financial securities firm. The tie-up with China's Guolian Securities will allow RBS to manage share sales and issue debt in China's fast-growing financial markets. RBS Asia boss…

May 25, 2011

US Treasury agrees to sell $5.8bn worth of AIG shares

The US Treasury has agreed to sell part of its stake in American International Group (AIG), as…

May 25, 2011

Foreign investment into Europe jumps thanks to US

Foreign investment into Europe grew sharply in 2010 to reach levels not seen since the global financial crisis began, a survey suggests. This resulted in a record number of projects funded, while the number of jobs these helped to create rose by…