June 30, 2013
Terry Leahy legacy criticised by former chairman
Tesco's former chairman Lord MacLaurin has criticised the legacy left by ex-chief executive Sir Terry Leahy. He told the annual meeting that current chief Philip Clarke needed three years to revive the UK's biggest retailer. Sir Terry is credited…
June 29, 2013
Gold price falls below $1,200 an ounce
At the same time, the slowdown in the global economy, prompted central banks across the world to lower interest rates - to historic lows in many cases - in an attempt to try to boost growth. Analysts said that with interest rates so low, investors…
June 27, 2013
$100m upgrade for LIAT
LIAT, with the partial backing of some Caribbean governments, is enhancing and transforming its fleet, with 12 new aircrafts over the next two years that will cost investors US$100 million. Earlier today, the regional airline paraded the first of…
June 27, 2013
EU finance ministers reach draft deal on bank bailouts
European Union (EU) finance ministers have agreed an outline plan on how to rescue troubled banks - without leaving taxpayers to face the bill. The deal was reached early on Thursday morning after another long session of talks between the 27 EU…
June 27, 2013
Italy to spend 1.5bn euros to boost youth employment
Italy's government has announced it will spend 1.5bn euros ($2bn; £1.2bn) to try to boost youth employment. The funds include tax breaks for companies that hire people aged 18-29, and will target the country's deprived southern areas. Two in five…
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…