Business

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…

February 17, 2011

UK unemployment total rises again

UK unemployment rose by 44,000 to almost 2.5 million in the three months to the end of December, the Office for National Statistics (ONS) has said. Youth unemployment rose to a fresh record high, with more than one in five 16 to 24-year-olds out…

February 17, 2011

Oil prices rising on concerns of spreading unrest

Oil prices climbed yesterday as anti-government demonstrations broke out in Libya and Israel’s foreign minister claimed that Iran is about to send two warships through the Suez Canal on the way to Syria. The news added to tension in the region…

February 17, 2011

Inflation will rise sharply, says Mervyn King

nflation will rise sharply in the first half of this year before falling back next year, the Governor of the Bank of England, Mervyn King, has said. But he said there were "large risks" that inflation could overshoot or undershoot the Bank's 2%…

February 15, 2011

Slash mortgage deductions for the rich

President Obama's plan to limit two popular deductions for wealthy taxpayers…

February 15, 2011

Chevron to fight multi-billion Ecuador ruling

Chevron has vowed to fight a multi-billion dollar judgment from an Ecuadorian court accusing the oil company of polluting the Amazon rainforest. "The Ecuadorian court's judgment is illegitimate and unenforceable," said Chevron, in a press release…