Browsing Category News
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Greece reaches 50 percent haircut deal with Europe
Europe’s leaders on Thursday came to agreement on a deal with EU banks to write off half of Greece’s bonds in a plan to reduce the country’s heavy debt load. The agreement, w... -
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High-growth economies drive euro appreciation
The eurozone is experiencing the biggest challenge since its inception – it is currently at the worst point of the debt crisis that started two years ago. Contagion has already s... -
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Peabody to lead bid as ArcelorMittal pulls out of $5.1bn bid
ArcelorMittal, the globe’s biggest steel producer, late on Tuesday backed out of its Macarthur Coal joint $5.1bn purchase with Peabody Energy, according to the company. The group... -
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International buy-in for JCA programme, despite delays
The origins of the Joint Combat Aircraft (JCA) programme can be found in plans developed in the 1990s to replace our carrier-borne aircraft. The aircraft selected to meet the JCA r... -
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UBS exceeds $1bn profit despite rogue trade loss
UBS on Tuesday said 3Q11 profits fell 39 percent owing to the financial loss of around CHF1.8bn ($2.2bn) from an unauthorised trading incident in September. The bank’s net profit... -
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S Africa buys into “made in China” brand
Deputy President Kgalema Motlanthe finished a trip to China on Friday by praising how it had mobilised state-owned-enterprises (SOEs) to construct a global power. Pretoria should l... -
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Citigroup to settle negligence charges
Federal regulators late on Wednesday charged a unit of Citigroup with negligence after they found it had sold $1bn worth of financial products linked to the flagging 2007 housing m... -
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China’s GDP slows in Q3
China’s economic growth slowed down in 3Q11 to 9.1 percent, down from 9.5 percent in 2Q11 and 9.7 percent in 1Q11, the national Bureau of Statistics of China announced Tuesday. ... -
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Philips to cut 4,500 jobs amid profit slump; Occupy Wall Street continues
Dutch electronics group Philips on Monday announced that 4,500 jobs will have to be cut “inevitably” to help restore earnings after 3Q11 profits dropped to a two-year low, as d... -
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S&P drops Spain rating one notch on weak growth
Standard & Poor’s late on Thursday slashed Spain’s credit rating one notch to AA- with a negative outlook from AA, citing economic woes. The lowering of Spain’s long ter...
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