June 27, 2013
UBS France fined 10m euros amid tax evasion probe
The French unit of UBS has been fined 10m euros (£8.5m; $13m) by regulators for failing to tighten proper controls on money-laundering and tax evasion. UBS and its French branch are being formally investigated for allegedly helping wealthy clients…
June 27, 2013
EU summit in Brussels wrestles with youth unemployment
The record unemployment blighting much of Europe will be the focus of attention at a two-day EU summit set to open in Brussels. Across the EU, nearly a quarter of people aged 18 to 25 have no job. In Greece and Spain more than half of people in that…
June 27, 2013
LTE-Advanced 4G network launches in South Korea
South Korea has started offering what are billed as the fastest ever 4G data speeds made available to consumers. SK Telecom says its LTE-Advanced network allows files to be downloaded at up to 150 megabits per second. That is twice as fast as before…
June 19, 2013
G8 leaders agree tax evasion measures
Leaders of the G8 major economies have agreed new measures to clamp down on money launderers, illegal tax evaders and corporate tax avoiders. Governments agreed to give each other automatic access to information on their residents' tax affairs. They…
June 19, 2013
Oil climbs above US$98 ahead of Fed policy news
The price of oil rose above US$98 yesterday as traders awaited the latest word on both the Federal Reserve’s monetary policy and US oil supplies. US benchmark oil for July delivery rose 67 cents to close at US$98.44 a barrel on the New York…
June 19, 2013
Deloitte gets one-year New York ban
Deloitte has agreed to a one-year suspension from doing consulting work for financial firms in the state of New York, after regulators criticised its work at Standard Chartered bank on anti-money laundering issues. New York's financial regulator…
June 19, 2013
Japan exports rise by most since 2010
Japanese exports rose in May by the most since 2010 as the yen weakened, providing a boost to Prime Minister Shinzo Abe's plan to revive the economy. Shipments shot up 10.1% from the previous year, data showed, rising for a third straight month. The…
June 19, 2013
Stocks closes High on Wall Street
Stocks on Wall Street closed higher on Tuesday, as investors pinned their hopes on the US Federal Reserve sticking to its current bond-buying stimulus programme. The Dow Jones Industrial Average rose 138.38 points, or 0.91% to finish at 15318.23.…
June 14, 2013
Airbus A350 set for maiden flight
The newest aircraft from European planemaker Airbus is due to take off on its maiden flight later. The Airbus A350 is designed to be more fuel-efficient, and a direct competitor to US rival Boeing's 787 Dreamliner. It is seen as vital to the future…
June 14, 2013
Saudi Arabia’s Prince Alwaleed defends libel action
Prince Alwaleed of Saudi Arabia has defended his decision to sue the business magazine Forbes. The billionaire is seeking damages over what he claims were "seriously defamatory comments" made about him. In March, Forbes calculated Prince Alwaleed's…