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…
April 15, 2011
Jamaica achieves significant economic and social gains
Jamaica has been able to make significant economic and social gains, despite the continued effects of a fledgling global economy, said Governor General Sir Patrick Allen. Some notable achievements have been the government’s ability to reduce…
April 12, 2011
Retail banks should be ring-fenced, says commission
UK banks' retail operations should be "ring-fenced" from their investment banking arms, the Independent Commission on Banking has recommended. However, in its interim report the commission stopped short of recommending the two should operate as…