June 10, 2014
IMF warns Osborne over housing bubble risk
The International Monetary Fund (IMF) has warned George Osborne that accelerating house prices and low productivity pose the greatest threat to the UK's economic recovery. It said rising property values could leave households more vulnerable to…
June 10, 2014
‘Full mobile penetration by 2016’ says Lime
Telecommunications provider LIME aims to get the entire population using Internet on their mobile phone within two years. That would require well over a million new users and a similar number of web-enabled phones to be sold into the market by…
June 5, 2014
Airline profits in 2014 to be hit by China
The global airline industry's profit forecast for this year has been cut amid fears over China's economic growth, the International Air Transport Association (IATA) said. The trade body predicts airlines will make $18bn (£10.7bn) in profit in 2014,…
June 5, 2014
Apple unveils iOS 8 and OS X Yosemite
Apple CEO Tim Cook took the stage at the company's annual Worldwide Developers Conference in San Francisco on Monday to announce the latest features for iPhones, iPads and Macs. Apple (AAPL) unveiled iOS 8, an update to the operating system that…
June 4, 2014
CDB gives update of the 44th Annual Meeting of the Board of Governors
Caribbean countries ended 2013 on a more solid economic footing than it had done since the start of the 2007/2008 global economic recession, according to figures released by the Barbados-based Caribbean Development Bank (CDB). The CDB, which is…
June 3, 2014
The French government faces a 14bn-euro black hole in its public finances
French President Francois Hollande has raised income tax, VAT and corporation tax since he was elected two years ago. The Court of Auditors said receipts from all three taxes amounted to an extra 16bn euros in 2013. That was a little more than half…
May 27, 2014
Caribbean Development Bank pleased with S&P’s new ratings
The Barbados-based Caribbean Development Bank (CDB) says it welcomes the Standard and Poor’s (S&P) revision of the bank’s outlook from “negative” to “stable” and affirmation of its “AA/A-1+” status on long and short term foreign currency…
May 27, 2014
No plans to devalue the local currency in TNT
The Trinidad and Tobago government says there are no plans to devalue the local currency as the main opposition People’s National Movement (PNM) called for an end to the new system of foreign currency allocation that it claims could lead to the…
May 20, 2014
JPMorgan, HSBC and Credit Agricole accused of euro rate-fixes
The European Commission has accused JPMorgan, HSBC and Credit Agricole of colluding to fix a key euro benchmark borrowing rate - Euribor. JP Morgan and HSBC will fight the charges. Credit Agricole will study the European Commission's findings.…
May 20, 2014
Credit Suisse pleads guilty to helping ‘tax cheats’
Swiss banking giant Credit Suisse has pleaded guilty to helping thousands of US clients evade paying taxes to the US government and agreed to pay a $2.6bn (£1.5bn) fine. It is the biggest bank to plead guilty to criminal charges in the US in more…