Carlos Slim overtakes Bill Gates in world rich list
March 11, 2010
Mexican telecom giant Carlos Slim has topped Forbes magazine’s billionaire’s list - the first time since 1994 that an American has not led the rankings.
Mr Slim’s fortune rose by $18.5bn (£12.4bn) last year to $53.5bn.
That beat Microsoft founder Bill Gates ($53bn) into second place, with US investor Warren Buffett ($43bn) third.
Iceland holds referendum on Icesave repayment plan
March 6, 2010
Icelanders are going to the polls to vote on paying the UK and Netherlands after the collapse of the Icesave bank, with a resounding “no” vote expected.
The British and Dutch governments want reimbursement for the 3.8bn euros (£3.4bn; $5.2bn) they paid out in compensation to customers in 2008.
Rio Tinto employees ‘to face trial’ in China
February 10, 2010
China has indicted four Rio Tinto employees on charges of bribery and violating commercial secrets, according to the state news agency Xinhua.
The indictment means they will now face trial. Rio Tinto has declined to confirm or comment on the report.
China economy shows strong growth in 2009
January 21, 2010
China has said its economy expanded by 8.7% in 2009, exceeding even the government’s own initial expectations.
The pace of change increased as the year went on, with growth in the final quarter of 2009 increasing by 10.7% from the same period a year earlier.
China is now on course to overtake Japan and become the world’s second-biggest economy.
Google ‘may pull out of China after Gmail cyber attack’
January 13, 2010
Internet giant Google has said it may end its operations in China following a “sophisticated and targeted” cyber attack originating from the country.
The company did not accuse the Chinese government directly, but said it was no longer willing to censor its Chinese search engine - google.cn.
General Motors chief executive Fritz Henderson resigns
December 2, 2009
Fritz Henderson is to step down as chief executive of US car giant General Motors, the firm said late on Tuesday.
It is thought someone from outside GM will be brought in to replace Mr Henderson, who was appointed as chief executive by the government in March.
Eurozone emerges from recession
November 14, 2009
The eurozone economy has emerged from recession after growing between July and September, figures have shown.
The 16 nations that use the euro collectively grew 0.4%, after shrinking by 0.2% between April and June.
The French and German economies both grew for a second consecutive quarter, confirming the eurozone’s two largest economies are out of recession.
Decline in Chinese trade slowing
October 14, 2009
Chinese official export figures for September have suggested improvements in economies in the rest of the world.
Exports from the world’s third largest economy fell to $115.9bn (£73bn), which was down 15.2% from September 2008, but the smallest fall in nine months.
China’s $596bn stimulus package has helped prop up its economy, but it needs a global recovery to boost trade.
Mexico shuts troubled energy firm
October 12, 2009
Mexico has closed a state-run energy distribution firm with about 40,000 employees and 25 million customers, blaming the scale of its losses.
Federal police seized the offices of Luz y Fuerza del Centro. Spending at the company was increasingly outpacing sales, according to the government.
The firm faced an “unsustainable financial situation”, President Felipe Calderon said.
BAE Systems faces bribery charges
October 1, 2009
UK defence giant BAE Systems faces corruption charges after the Serious Fraud Office said it would ask the Attorney General to prosecute the firm.
The SFO has been in negotiations with BAE but the sides could not agree what the firm would admit or the fine due.
The case refers to allegations BAE paid bribes to win contracts from several nations in Africa and Eastern Europe.