February 22, 2013
Eurozone downturn and deficits to persist, Commission says
The eurozone recession will persist into 2013, the European Commission has conceded in its latest forecast. Governments face an uphill battle to rein in their overspending, with Spain, France and Portugal all failing to cut their deficits to agreed…
February 22, 2013
Air France-KLM losses widen as fuel costs rise
Air France-KLM, the Franco-Dutch airline, says it made a big loss in 2012, blaming sharply rising fuel costs and trouble with its cargo business. Net losses increased 47% to 1.19bn euros (£1bn; $1.57bn), after a 471m-euro restructuring charge and a…
February 22, 2013
Competition Commission raps Big Four accountants
Britain's four biggest accountancy firms have been heavily criticised by the Competition Commission. The regulator has accused PWC, Ernst & Young, Deloitte and KPMG of being too dominant and not always meeting a shareholder's needs. The four…
February 22, 2013
AIG reports $4bn loss from sale of leasing business
American International Group (AIG) has reported a huge loss from the sale of its aircraft leasing business ILFC. The insurer reported a net loss of $4bn (£2.6bn) for the last three months of 2012, due to the $4.4bn loss from the ILFC sale. It had…
February 22, 2013
Japan Moves to Stimulate their Stalled Economy
Japan's central bank is embarking on an American-like plan to stimulate the country's stalled economy by pumping more money into it. The Bank of Japan, under pressure from the new government of Prime Minister Shinzo Abe, agreed Tuesday to double…
February 22, 2013
British Women Gets Death Sentence for Drug Smuggling in Bali
An Indonesian court has sentenced a British woman to death for attempting to smuggle drugs into the resort island of Bali. Fifty-six-year-old Lindsay Sandiford cried when she heard the sentence Tuesday, but did not comment as she was escorted back…
February 22, 2013
Bermudian Arrested In NJ For Drug Offences
A Bermudian man was arrested in New Jersey in connection with a drug related matter. The Bermuda Police Service released limited information, saying only that they are “aware of an arrest of a Bermudian National in New Jersey on a drug related…
February 22, 2013
Jamaica overcome few hiccups to record four-wicket win
Jamaica overcame a few hiccups to coast to a comfortable four-wicket win over Trinidad and Tobago in the Regional Super50 Championship here yesterday Chasing an inadequate 153 for victory, Jamaica recovered from a position of one run for two wickets…
February 22, 2013
Digicel & IslandCom moves ahead with LTE
The TCI Telecommunications Commission has awarded the two available licences on the 700 MegaHertz spectrum to Digicel and Islandcom. The Commission says that due to its technical characteristics, the 700 MegaHertz spectrum is ideally suited for…
February 22, 2013
Ten Percent Returns for Civil Servants
The Government has confirmed that Public Servants and members of the Police Force will get the reinstatement of the 10 per cent salary in their pay packets at the end of the month. It takes effect on February 1st and will be paid to those eligible…