Business

December 24, 2010

Japan agrees record 92.4 trillion yen draft budget

The Japanese government has approved a record level of spending of 92.4 trillion yen ($1.1tn;…

December 24, 2010

Toyota pays $10m to fatal Lexus crash family

Toyota has paid $10m (£6.5m) to the family of four people killed in a runaway Lexus car in the US…

December 24, 2010

US consumer spending up again, Commerce Department says

US consumer spending rose modestly in November for the fifth consecutive month,…

December 24, 2010

Greece approves austerity budget amid new strike

The Greek parliament has approved next year's budget, bringing in sweeping austerity measures. The budget imposes more spending cuts and tax rises, as required by the European Union and the International Monetary Fund in exchange for a bailout to…

December 22, 2010

Emerging nations more upbeat on 2011 than G7: survey

Power and prosperity are shifting to the east and to emerging economic nations, a new global poll says. The survey of economic prospects for 2011 suggests the biggest number of optimists live in countries like China, Brazil and India. The survey,…

December 22, 2010

UK government borrowing hits record high

The amount of new public sector borrowing hit a fresh record high in November, according to the…

December 22, 2010

BAE Systems fined for Tanzania accounting offence

BAE Systems has been fined £500,000 for failing to keep proper records of payments it made to an adviser in Tanzania. The defence group paid £7.7m to two firms controlled by businessman Shailesh Vithlani ahead of winning a £28m Tanzanian military…

December 22, 2010

Cuomo Sues Ernst & Young Over Lehman

The New York attorney general on Tuesday sued Ernst & Young, accusing the accounting firm of helping Lehman Brothers, its client, “engage in a massive accounting fraud” by misleading investors about the investment bank’s financial health. The…

December 22, 2010

Deutsche Makes Deal In Tax Case

Deutsche Bank agreed to pay $553 million and admit to criminal wrongdoing on Tuesday, settling a long-running investigation into tax shelter fraud that prosecutors say generated billions of dollars in bogus tax benefits. In an agreement with the…

December 22, 2010

Stanford suspicions seen in the WikiLeaks cables

Financier Allen Stanford was suspected of irregular dealing, long before he was accused in a $7.2 billion Ponzi scheme, WikiLeaks cables report. WikiLeaks is the international cyber organization at the center of massive diplomatic and military…