Business

May 16, 2011

Canada banks propose rival stock exchange deal

Canada’s TMX Group, operator of the Toronto Stock Exchange, has received a takeover proposal…

May 16, 2011

BP faces tight deadline to seal Rosneft share swap

BP (BP.L) will struggle to meet a Monday deadline to complete its US$16 billion share swap with Russian group Rosneft, leaving the companies to agree a second extension or allow the deal to fall apart. BP Chief Executive Bob Dudley, who has been…

May 16, 2011

As stock market slows down, defensive stocks shine

After sailing through its best first quarter since 1998, the stock market is starting to lose some momentum. The Standard and Poor's 500 stock index, a broad market benchmark, is up just 1 percent this quarter after jumping 5.4 percent in the…

May 16, 2011

Late payments on mortgages fall again in 1st qtr

The number of homeowners making late payments -- or no payments -- on their mortgages fell for the fifth straight quarter in the first three months of 2011. But the figure remains stubbornly high compared with the pre-crisis norm, likely because…

May 16, 2011

Weak economic signals steer Asia down

A loss of momentum on Wall Street and worries over Europe's debt problems dampened investor enthusiasm and led Asian stock markets lower Monday. Oil prices fell below $99 a barrel Monday in Asia as crude became more expensive for investors with…

May 14, 2011

Eurozone’s economic growth accelerates

The economy of the 17 countries that use the euro grew by 0.8% in the first three…

May 14, 2011

Japan’s government approves Tepco compensation scheme

Japan's government has approved a plan to help Tokyo Electric Power (Tepco) compensate victims of the crisis at its tsunami-crippled nuclear plant. Payouts are expected to run into the tens of billions of dollars over the Fukushima nuclear plant…

May 14, 2011

Pfizer sets aside $772m for drug illness claims

The drugs giant Pfizer has put aside $772m (£476m) to resolve claims its hormone replacement drugs cause serious illness. Pfizer, which is the world's largest drugmaker, said the money provides "the minimum expected costs to resolve all of the…

May 14, 2011

Inflation in US food and fuel prices slows

Inflation in the US slowed in April, mainly due to smaller price rises in fuel and food. Consumer prices rose 0.4% in April, having risen 0.5% in March, according to figures from the Labor Department. Petrol prices rose 3.3%, down from March's 5.6%…

May 12, 2011

Budget deficit on track to exceed $1 trillion

The government is taking in more tax revenue as the economy improves, but not nearly enough to…