Business

May 3, 2011

Germany and France raise two-speed recovery concerns

The economies of Germany and France powered ahead in April, with their manufacturing sectors continuing their strong recovery, according to new data. The closely-watched Markit purchasing managers index showed that Germany's factory activity…

May 2, 2011

Banks accused of talking up Greek debt fears

The head of Europe’s rescue fund was quoted yesterday as telling a German newspaper that he…

May 2, 2011

S Korea inflation eases in April as food prices fall

South Korean inflation has risen more slowly than expected in April, due to lower food prices and cheaper imports. Consumer prices grew by 4.2% in April from the same month a year earlier, the statistical office said. That is less than the 4.4%…

May 2, 2011

Obama keeps up push to end gas, oil tax breaks

President Barack Obama says oil companies are profiting from rising pump prices and he wants…

May 2, 2011

Sony execs apologise for network security breach

Sony executives bowed in apology yesterday for a security breach in the company’s PlayStation Network that caused the loss of personal data of some 77 million accounts on the online service. “We deeply apologise for the inconvenience we have…

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…