November 20, 2013
US prices fall 0.1% in October as petrol costs drop
US consumer prices fell 0.1% in October as petrol prices dropped, the US Labor Department has said. Petrol prices fell 2.9%, the biggest drop since April. The cost of new cars, clothes and healthcare also fell. The decrease meant that annual…
November 20, 2013
Co-op Bank to face independent inquiry, says PM David Cameron
Chancellor George Osborne is to order an independent inquiry into how Paul Flowers was deemed a suitable chairman of the Co-op Bank. The inquiry is also expected to examine whether the bank's recent leadership crisis has had any financial impact on…
November 18, 2013
JP Morgan agrees to $4.5bn mortgage settlement
US investment bank JP Morgan has agreed to pay $4.5bn (£2.8bn) to investors who lost money on mortgage-related securities during the financial crisis. The settlement is with 21 major institutional investors. Mortgage-related investments were a…
November 18, 2013
Boeing leads order books race in Dubai
Airlines in the Gulf have placed a number of high-value plane orders on the first day of the Dubai Air Show, with US giant Boeing a major winner. Dubai-based Emirates airline placed an order for 150 of Boeing's new 777 mini-jumbos, in a $76bn…
November 18, 2013
Government to sell 20% in Air New Zealand
New Zealand's government is to sell a 20% stake in national carrier Air New Zealand, leaving it with a 53% holding. Trading in the airline's shares was halted on Monday following the government's announcement. Based on the last trading price of…
November 18, 2013
EU warns Spain and Italy over their budget
The European Commission, the European Union's executive arm, has warned Spain and Italy that their draft budgets for 2014 may not comply with new debt and deficit rules. It also said French and Dutch plans only just passed muster. Non-complying…
November 18, 2013
EnQuest cleared to develop £4bn Kraken oil field
A £4bn investment in a major oil field off Shetland has been given the go-ahead. The Kraken field, which is estimated to contain nearly 140m barrels of oil, is majority-owned by Aberdeen-based EnQuest. The construction phase of the project is…
November 13, 2013
Starbucks to pay $3bn in row over packaged coffee
An independent US arbitrator has told Starbucks to pay $2.76bn (£1.74bn) in damages and other costs to Kraft Foods in a dispute over packaged coffee. Kraft began selling bags of Starbucks branded coffee in 1998 under a deal that was due to run…
November 13, 2013
American Airlines and US Airways settle merger suit
American Airlines and US Airways have settled an anti-trust suit with US regulators, paving the way for their proposed merger to be finalised. The merger would create the world's largest airline. As part of the agreement, which must still be…
November 13, 2013
Singapore Airlines profits jump almost 80%
Singapore Airlines (SIA) has reported a 78% rise in net profit for its second quarter. Asia's second biggest carrier was boosted by the sale of aircraft, spare engines as well as increased passenger traffic. The firm posted a total net profit of…