Business

March 2, 2011

Gold price hits record high on Libya unrest

The price of gold has hit a record high as investors worry about the political turmoil in Libya and spreading tensions across the Middle East. The price on the London Bullion Market jumped more than $14 to $1,434.50 an ounce, topping the previous…

March 2, 2011

Bernanke: Sustained oil price rise danger to US economy

The length of time that oil prices remain high will be significant for the US economy, US Federal Reserve chairman Ben Bernanke has said. He told the Senate Banking Committee that the most likely outcome was a temporary and modest rise in…

February 26, 2011

How gas spikes 6 cents in one day

Gas prices spiked 6 cents Friday, the biggest one-day jump in two years, and…

February 26, 2011

Shutdown: Washington gets ready

Washington has started getting ready for a possible government shutdown.

February 26, 2011

Sri Lanka president calls for new world financial order

The president of Sri Lanka has called for a new financial order to prevent future world financial crises. President Mahinda Rajapaksa said the industry had been mainly focusing on regulating institutions since the 2008 downturn. But he said the…

February 26, 2011

UK GDP figure revised down further

The UK economy shrank by more than previously thought during the last three months of 2010, revised figures show. Gross domestic product (GDP) slipped by 0.6% in the period, according to fresh data from the Office for National Statistics (ONS). Its…

February 26, 2011

Lloyds returns to profit to make £2.21bn

Lloyds Banking Group has returned to profit for the first time since it was bailed out by the government at the height of the financial crisis. It saw a pre-tax profit of £2.21bn, compared with a £6.3bn loss in 2009. A recovery in High Street…

February 26, 2011

Brazil companies Petrobras and Vale post record profits

Brazil's two biggest companies have posted record profits for 2010, in the latest sign of the South American nation's growing economic might. The oil giant Petrobras - which is partly state-owned - made $20bn (£12.4bn). The mining company Vale…

February 23, 2011

Airports operator BAA narrows losses to £317m

UK airports operator BAA has reported a loss of £317m for 2010 after a year of volcanic ash, strikes…

February 23, 2011

Barnes & Noble profits fall by a quarter

Barnes & Noble has reported a slump in profits and suspended its dividend payments as it continues to invest heavily in its e-book strategy. Net profits for the three months to the end of January came in at $60.6m (£37.6m), a drop of 25% on the…