Business

April 30, 2011

EU investigates banks over credit default swaps use

The EU's competition authorities are investigating the activities of nine of the world's…

April 30, 2011

Gold hits new record high as US dollar weakens

The price of the precious metal hit a new record high for the third straight day of $1,569.30 on the back of a weakening US dollar. The gold price has risen 7% over the last month as investors have sought a save-haven against inflation and the…

April 30, 2011

China’s yuan rises past 6.50 against the US dollar

China's currency, the yuan, strengthened past a key level against the US dollar on Friday, as part of wider efforts to contain inflation on the mainland. The yuan broke past 6.50 against the dollar, a level not seen since 1993. Traders and…

April 30, 2011

Eurozone inflation rate increases to 2.8%

The eurozone's inflation rate edged up to to 2.8% in April from March's figure of 2.7%, according to official data from Eurostat. The increase takes inflation further away from the European Central Bank's target of just below 2%. The cost of raw…

April 30, 2011

Cuba to allow sale of private homes for first time since the revolution

Cuba plans to allow people to buy and sell their homes for the first time since the 1959 revolution brought Fidel Castro to power, the BBC reports. The decision came during the first congress held by the ruling Communist party in 14 years. No…

April 28, 2011

eBay profits jump 20% on Paypal growth

Internet auction giant eBay has reported a sharp rise in quarterly profits thanks in large part due to strong growth at its Paypal division. Net income for the first three months of the year was $476 (£286m), a 20% rise on the $398m recorded a year…

April 20, 2011

Apple profits nearly double as iPhone sales soar

Latest profits for the computer giant Apple beat hopes, including a…

April 20, 2011

US Stocks Close Higher in Trading Wednesday

U.S. stock indexes closed higher in trading Wednesday. The Dow Jones Industrial Average was up 1.52 percent to close at 12,454. The broader S&P 500 index rose 1.35 percent to 1,330, while the NASDAQ climbed 2.1 percent to end the day at……

April 20, 2011

China to build 55 airports in five years

China plans to increase its total number of airports from 175 to 230 over the next five years, according to senior aviation officials in China. Li Jiaxiang, head of the Civil Aviation Administration of China (CAAC), commented on the aviation…

April 20, 2011

Toyota making drastic production cuts after Japan quake, tsunami

Toyota has announced drastic production cuts in North America and China due to…