Business

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…

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…