February 15, 2011
Stocks poised for weak ope
U.S. stocks were headed for a flat opening Tuesday, as investors digested a weaker-than-expected report on January retail sales. Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were little changed ahead of the opening…
February 15, 2011
Chinese consumers squeezed by rising prices
Inflation in China has been on a tear lately, and Chinese consumers are feeling the pinch of rising food, energy and housing prices. "Fuel prices are rising, toll prices are higher, food prices are rising; but even if it's expensive, we still…
February 15, 2011
Nokia to get billions from Microsoft
Nokia, the world’s largest maker of phones, and Microsoft announced their alliance Friday. Both investors and employees reacted with dismay: Nokia’s stock dived 14 per cent and Finnish employees used flex time to go home early. On Sunday, a day…
February 15, 2011
Oil falls as US supplies outweigh Mideast tensions
The price of benchmark crude fell to its lowest level in 12 weeks yesterday as oil traders weighed growing US oil supplies against unrest in the Middle East. West Texas Intermediate crude fell 77 cents to settle at US$84.81 on the New York…
February 15, 2011
Obama’s wackiest budget cuts
The funding grants nobody wants. The "mobile" policing unit that doesn't get around much. How about the big fancy telescope that has been mismanaged? President Obama's 2012 proposal lists more than 200 programs that he wants to cancel or cut, for…
February 12, 2011
Shares rally as Mubarak resigns
Global markets have climbed and the price of oil fallen after Hosni Mubarak stepped down as…
February 12, 2011
South Korea holds interest rates despite pricing fears
South Korea's central bank has left its main interest rate unchanged at 2.75%, bucking a trend that has seen borrowing costs rise across Asia as policymakers try to slow inflation. Analysts said the bank wanted to see the impact of a surprise…
February 12, 2011
Greece needs to make faster reforms, says IMF
Greece is making economic progress but needs to carry out reforms faster, the EU and International Monetary Fund (IMF) have said after approving their latest tranche of aid to the country. In May, the organisations agreed a rescue package worth…
February 12, 2011
Spain’s economy grew 0.2% in last quarter of 2010
The Spanish economy expanded by 0.2% in the fourth quarter, according to official estimates, boosted by exports. For the whole of 2010 the National Statistics Institute estimated that the economy had contracted by 0.1%. In September, the Spanish…
February 11, 2011
Lime loses JA$1.3 billion in first quarter
Losses have continued to grow in the quarter ended December 2010 for telecoms company LIME Jamaica according to the latest published financial report. But bosses are pointing to plans which it is hoped would lead to a turnaround to profitability for…