Business

April 20, 2011

Citigroup’s profit plunges 32 per cent

Citigroup Inc’s first-quarter profit fell 32 per cent as shrinking loans and poor trading results pressured revenue while expenses surged. The results highlighted how the third-largest US bank, which teetered on the brink of collapse in the…

April 20, 2011

Stocks sink after S&P issues warning on US debt

A warning from Standard & Poor's (S&P) that the agency might lower its rating on US government debt sent stocks on their steepest slide in a month yesterday. S&P said there is a 33 per cent chance it would lower the country's credit rating from…

April 17, 2011

Bank of America profits fall due to mortgage losses

Bank of America Merrill Lynch has reported a 38% decline in profits for…

April 17, 2011

China’s economy expands 9.7% as inflation accelerates

China's economy continued its boom in March and inflation accelerated to the fastest rate since 2008. Growth was at a faster-than-expected 9.7% between January and March from the same period a year earlier, the National Bureau of Statistics said.…

April 17, 2011

India’s inflation accelerates to 8.9% in March

India's inflation rate rose to 8.9% from 8.3% in February, driven higher by fuel and manufacturing costs, the government has announced. The January inflation rate was also revised upwards to 9.35% from 8.23%. Earlier this week the International…

April 17, 2011

Google sees a sharp rise in first-quarter earnings

Internet giant Google has reported a sharp rise in first-quarter earnings, the first figures with co-founder Larry Page back at the helm as boss. The world's leading search engine reported $6.54bn (£4bn) in net revenue in the first quarter, up…

April 15, 2011

US crude rises as traders eye weaker dollar

US crude oil futures rose nearly one per cent yesterday, as a weaker dollar offset worries that…

April 15, 2011

Ireland starts action on subordinated bank debt

Ireland’s High Court opened the way on Thursday for the government to force burden sharing on the owners of subordinated debt in nationalised Allied Irish Banks, the finance ministry said. Last month, Ireland said it would seek significant…

April 15, 2011

Dow, S&P inch up as growth questioned

Stocks that outperform in a weak economy helped the Dow and S&P 500 eke out gains yesterday as concerns about faltering growth and inflation prompted investors to seek out less volatile names. The Dow industrials’ top percentage gainers were…

April 15, 2011

Business community complains about US currency shortage

Former president of the San Fernando Business Association (SFBA) Daphne Bartlett is calling on the Central Bank Governor Ewart Williams to say whether there is a shortage of  US currency in the local market. She said a lack of foreign exchange is…