September 21, 2013
Obama proposes carbon limits on new US power plants
US President Barack Obama has unveiled a proposal to limit carbon emissions on new power plants built in the US. It would be the first federal attempt to impose limits on the pollution blamed for global warming. "Climate change - caused by…
September 21, 2013
JP Morgan makes $920m London Whale payout to regulators
US bank JP Morgan Chase has agreed to pay four regulators $920m (£572m) relating to a $6.2bn loss incurred as a result of the "London Whale" trades. The settlement is the third biggest banking fine by US regulators, and the second largest by UK…
September 21, 2013
Deadline to legalize foreign workers looms; hoteliers complain of red tape
The Hotels and Tourism Association (Asonahores) on Thursday complained that laborers, severance pay, the legal status of seasonal workers and immigration difficulties faced by its mid level and senior executives are its main challenges, a statement…
September 21, 2013
US lawmakers vote to cut food stamp benefits from 2014
US lawmakers have narrowly voted to cut food stamp benefits from next year despite a veto threat from the White House and opposition by lobby groups. The Republican-led House of Representatives passed the bill by 217-200. But it has little chance…
September 16, 2013
Larry Summers pulls out of US Federal Reserve race
Former US Treasury Secretary Larry Summers has withdrawn his candidacy to succeed Ben Bernanke as head of the US central bank, the Federal Reserve. In a letter to President Barack Obama, quoted by the Wall Street Journal, Mr Summers said any…
September 16, 2013
Portugal’s economic progress under review
Representatives from the International Monetary Fund, the European Commission and the European Central Bank have begun their latest audit of Portugal's economic health. A raft of reforms was promised by Portugal's leaders in return for its May 2011…
September 16, 2013
Koreas restart operations at Kaesong industrial zone
The Kaesong industrial complex in North Korea is reopening, five months after it was closed due to political tensions with the South. More than 800 South Koreans are due to cross to the jointly-run centre. Seoul has also sent negotiators who will…
September 16, 2013
Japan halts last nuclear reactor at Ohi
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September 16, 2013
Spanish public debt reaches record level
Spain's public debt reached a record high in June, the country's central bank said. The figure has risen to 942.8bn euros (£792.5bn; $1.3 trillion), equal to 92.2% of the country's entire economic output, the bank said. This is nearly 15% higher…
September 4, 2013
Australia’s economic growth better than forecast
Australia has reported better-then-forecast growth numbers for the April to June quarter, boosted by gains in consumer spending. Its gross domestic product (GDP) expanded 2.6% during the quarter, from a year earlier. Compared with the previous…