August 24, 2014
HSBC boss makes capital flight claim
Uncertainty over an independent Scotland's currency could lead to "capital flight" from the country, the chairman of HSBC has claimed. Writing in the Telegraph, Douglas Flint said supporters of independence were "advocating a giant step into…
August 24, 2014
IMF defends Antigua policies
A senior official of the International Monetary Fund (IMF) Tuesday defended its policies towards Antigua and Barbuda after the island’s new government launched a scathing attack on the Washington-based financial institution. IMF Deputy Director of…
August 15, 2014
Coca-Cola buys 16.7% stake in Monster Beverage
US drinks giant Coca-Cola has bought a 16.7% stake in Monster Beverage in a cash deal, as it looks for growth away from fizzy drinks. In the $2.15bn (£1.3bn) deal, Coca-Cola will transfer its worldwide energy business to Monster. In exchange,…
August 14, 2014
Margaritaville surpasses sales target in TCI
Margaritaville Turks & Caicos (TCI) surpassed its US$6-million revenue target for its financial year. Growth in sales helped boost the tourist attractions earnings to over US$720,000, which was 21 per cent higher than the year before. The…
August 12, 2014
GlaxoSmithKline faces bribery claims in Syria
The international pharmaceutical giant GlaxoSmithKline (GSK) is facing new claims it bribed Syrian distributors to increase sales in the country. The claims come from the Reuters news agency, which has seen an anonymous email sent to top management…
August 12, 2014
RBS may sell ‘Queen’s bank’ Coutts International arm
Royal Bank of Scotland (RBS) is looking into selling Coutts International, the overseas arm of the private bank that has the Queen's account, in a move that could raise £600m ($1bn). A number of potential buyers around the world are thought to be…
August 12, 2014
Chiquita subject of $611m bid to rival Fyffes merger
Two Brazilian companies have made a $611m (£363m) bid for US banana group Chiquita. Juice maker Cutrale and conglomerate Safra have offered $13 a share, a 29% premium to Chiquita's closing share price on Friday. Chiquita shares jumped 31% in…
August 2, 2014
US economy adds 209,000 jobs in July
The US added 209,000 jobs in July, adding to optimism that the country's recovery continues apace. The unemployment rate ticked up slightly to 6.2%, latest data from the Bureau of Labor Statistics has shown. The biggest job gains were in…
July 29, 2014
BP sees profits rise but warns of Russia sanctions risk
BP has warned that further sanctions against Russia could affect its business as it posted a rise in second quarter profits. BP said that sanctions imposed over the Ukraine crisis have not affected the oil giant so far, but could do so in the…
July 29, 2014
Kurdish oil tanker in US seizure
A tanker carrying $100m (£59m) of Iraqi Kurdish oil is set to be seized by US marshals on Tuesday. The tanker – carrying an estimated one million barrels of oil – arrived off the coast of Texas on Saturday but had yet to be unloaded. A US judge…