November 13, 2013
Eike Batista-owned OSX files for bankruptcy
A second company controlled by the Brazilian former billionaire Eike Batista has filed for bankruptcy protection. Shipbuilding firm OSX Brasil made the filing in a Rio de Janeiro court less than two weeks after its sister oil company, OGX, also…
November 13, 2013
Apple and Samsung back in court over patent damages
Apple and Samsung are returning to court in one of the most high-profile patent battles of recent times. In August 2012, a jury found Samsung guilty of infringing six Apple patents and awarded one of the largest payouts of its kind on record. The…
November 12, 2013
PepsiCo makes big investment in India
PepsiCo, the US food and drinks giant behind the Pepsi-Cola, Walkers Crisps and Tropicana brands, is to invest $5.5bn (£3.4bn) in India by 2020. The company said it planned to expand the range of products it sells in the country, and increase its…
November 10, 2013
France’s credit rating cut by S&P to AA
Standard and Poor's (S&P) has cut France's credit rating to AA from AA+. The moves comes almost two years after the country lost its top-rated AAA status. S&P said it downgraded France because high unemployment in the country was making it…
November 10, 2013
US job creation stronger in October
The US economy added a better-than-expected 204,000 jobs in October, according to the latest figures from the Labor Department. There had been fears that the 16-day shutdown of government services last month could have hit jobs growth. The monthly…
November 10, 2013
US seeks $864m from Bank of America in mortgage trial
The US government has said it is seeking $864m (£540m) in compensation from Bank of America for losses over home loans sold to it by the bank's Countrywide Financial unit. US attorney Preet Bharara made the request in documents filed late Friday in…
November 10, 2013
Digicel invests in Haiti’s leading micro lender
Digicel has invested US$2million in Haiti's largest microfinance institution, Sèvis Finansye Fonkoze, which states that it will use the funds to expand its microcredit and other financial service offerings through its network of 46 full-service…
November 10, 2013
China trade data adds to recovery hopes
China's exports and imports rose in October, the latest in a series of figures indicating a recovery. Exports, a key driver of its growth, rose 5.6% from a year earlier, while imports jumped 7.6%. This follows data released this month which showed…
November 2, 2013
Unemployment in Eurozone reaches new record high
The number of unemployed in the 17-nation eurozone reached a record high in September as the bloc’s nascent recovery failed to generate jobs, official data showed. The ranks of the jobless swelled by 60,000 to a record 19.45 million, according to…
November 2, 2013
Barclays suspends currency traders
UK bank Barclays has suspended six traders as part of a probe into suggestions that currency markets could have been rigged, the BBC has learnt. On Thursday, Royal Bank of Scotland suspended two traders in connection with the investigation. The…