Business

February 23, 2011

Wal-Mart reports seventh quarter of declining US sales

Retail giant Wal-Mart has reported a seventh straight quarterly decline in underlying sales at its US stores, as it loses customers to cheaper rivals. In the fourth quarter of 2010, same-store sales fell by 1.8% in the US, but the firm benefited…

February 23, 2011

Mexico economic growth hits 10-year high

The Mexican economy recovered from a sharp contraction in 2009 to grow by 5.5% last year, its fastest annual rate in 10 years, official figures show. The National Statistics Institute said that the agriculture, manufacturing and services sectors…

February 18, 2011

Palin: America ‘on a road to ruin’

Sarah Palin delivered a harsh critique of President Obama's budget proposal during…

February 18, 2011

Treasury unveils new financial services watchdog

A powerful new "financial policy committee" (FPC) at the Bank of England has been unveiled by the government. It will oversee the government's new system of regulators, set to replace the Financial Services Authority (FSA). FPC members will include…

February 18, 2011

Stocks end at fresh multi-year highs

U.S. stocks ended at fresh multi-year highs Thursday, as investors focused on an upbeat manufacturing report and looked past indications that inflation is heating up. Dow Jones industrial average (INDU) edged up 30 points, or 0.2%, with 21 of the…

February 18, 2011

US inflation rises 0.4% on higher food and energy costs

US prices rose 0.4% in January compared with the previous month, mostly due to rising food and fuel prices. The rate of change was the same as seen in December. The Consumer Price Index rose by 1.6% over the last year, before seasonal adjustment,…

February 18, 2011

G20 meeting urged to act on food price inflation

The G20 begins a two-day meeting on Friday against a background of rising food and commodity prices. Finance ministers and central bankers from 20 of the world's biggest developed and developing nations will gather in Paris. They are being urged to…

February 17, 2011

Australia banks may see credit rating cut, Moody’s says

Moody's Investor Service has put Australia's four biggest banks on a credit downgrade…

February 17, 2011

Indian billionaire Ambani questioned in telecom scandal

Anil Ambani, the billionaire chairman of Reliance Communications, has been questioned as part…

February 17, 2011

Bernard Madoff says banks knew of Ponzi scheme

Convicted fraudster Bernard Madoff has blamed others for being "complicit" in his scheme, which fleeced investors of billions of dollars. Madoff is serving 150 years in jail in the US for a $65bn (£40bn) fraud which deprived thousands of investors…