Business

March 16, 2011

The BOJ injects $43bn to shore up the financial markets

The Bank of Japan has pumped an extra 3.5 trillion yen ($43bn; £27bn) into the financial markets on Wednesday. The injection comes after the central bank announced a cash input of 23tn yen ($284bn) on Monday and Tuesday. The Bank of Japan has been…

March 16, 2011

Cuba devalues currency to match US dollar

Cuba is devaluing its currency by about 8% compared to the US dollar as part of efforts to revive the economy. The hard-currency convertible peso used mostly by tourists and foreign firms will now be on a par with the dollar. The central bank said…

March 14, 2011

Japan’s Nikkei falls 4.5% in first session after quake

Japanese shares have tumbled on the first trading day after the massive earthquake and…

March 14, 2011

Chevron appeals against Ecuador Amazon pollution fine

US oil giant Chevron has launched a legal appeal against a $9.5bn (£5.9bn) fine by an Ecuador court for polluting much of the country's Amazon region. Chevron accused lawyers and supporters of the indigenous groups who brought the case of…

March 14, 2011

Greece, Portugal Face New Credit Warning

A leading financial services company says it could further downgrade the credit standing of Greece and Portugal as the two countries struggle to control the finances of their debt-ridden governments. Standard & Poor's said Wednesday it is keeping…

March 14, 2011

European Leaders Agree to Closer Economic Cooperation

Leaders of the 17 European nations that use the euro have agreed “in principle” to limit public debt and coordinate their economic policies. The so-called “pact for the euro” is to be formally adopted at a summit of all 27 European Union members…

March 14, 2011

Obama to Face Reporters on High US Gasoline Prices

The White House says President Barack Obama will hold a news conference Friday morning to answer questions about rising U.S. gasoline prices. Officials say he likely will be asked about the turmoil in Libya, which has been a major cause of high…

March 11, 2011

The Central Bank, The Belize Bank And Parallel Banking

The Central Bank of Belize and The Belize Bank are locked in a court battle which…

March 9, 2011

Madoff trustee ready to distribute $2.6B to victims

The court-appointed trustee charged with recovering assets stolen by Ponzi schemer…

March 9, 2011

Oil nears US$107 a barrel then retreats

Oil prices continued to set new post-recession highs Monday as forces loyal to Moammar Gadhafi pounded rebels near a key oil port in Libya. It's unclear how long the country's oil exports will be cut off, and traders prepared for a worst-case…