August 13, 2013
Cayman Islands Government to stop Dart 50% tax
The new Cayman Islands PPM government says it is standing firm over its objection to the former UDP government’s decision to allow the Dart group to take half of the tax it collects in all its hotels and tourism accommodation over the next decade as…
August 5, 2013
BP denies US allegations of fixing natural gas market
US regulators have told BP to respond to allegations of natural gas market manipulation and threatened the firm with fines of close to $29m (£19m). BP has 30 days to respond, but said the allegations were "without merit". The Federal Energy…
August 5, 2013
HSBC mulls banker pay rises to combat bonus cap rules
HSBC is considering raising its bankers salaries in a bid to limit the impact of new rules which will cap bonuses at a maximum of double their salary. Chairman Douglas Flint said increasing salaries was "one of the possibilities" of a "whole range…
August 5, 2013
South Korean concern as US overturns Apple iPhone ban
The South Korean government has said it is concerned about the US's move to overrule a sales ban of some older Apple and iPad models. In June, the US International Trade Commission (ITC) ruled that Apple infringed a patent of rival Samsung.…
August 5, 2013
China services sector growth steadies in July
China's services sector expanded slightly in July, an HSBC survey showed, indicating that growth in the sector had steadied. The HSBC non-manufacturing Purchasing Managers' Index (PMI) stood at 51.3, unchanged from June. A reading above 50 indicates…
August 5, 2013
US employment up by 162,000 in July
The US economy added 162,000 new jobs in July, according to the US Labor Department. The figure - which measures the number of jobs outside the US farming sector - was below economists' expectations of more than 180,000 and the government also cut…
August 3, 2013
Dell shares jump 5.5% as board agrees to new buyout offer
Dell's shares have risen 5.5% after the firm's board accepted a new buyout offer from founder Michael Dell. The latest proposal add a one-off payment of 13 cents a share to last week's $13.75 a share offer. Mr Dell, together with investment firm…
August 3, 2013
US regulators demand clamp down on Apple e-book contracts
US regulators have called for Apple to be forced to cancel certain e-book contracts with major publishers. They added Apple should be hit with a five-year ban on entering distribution contracts deemed anti-competitive. The move follows a court…
August 3, 2013
Johnson & Johnson fined in China monopoly case
The healthcare giant Johnson & Johnson has become the latest foreign company to be accused of misconduct in China. A ruling by a Shanghai court ordered the US company to pay $85,000 (£56,000) to a local distributor for violating anti-monopoly…
July 19, 2013
Detroit becomes largest US city to file for bankruptcy
Detroit has become the largest US city ever to file for bankruptcy, with debts of at least $15bn (£10bn). The city, once a symbol of US industrial power, is seeking protection from creditors who include public-sector workers and their pension……