BP oil spill costs pass $3bn mark
July 5, 2010
The oil spill in the Gulf of Mexico has so far cost BP a total of $3.12bn (£2bn), the company has said.
The total includes the cost of containing the spill and cleaning up the oil, and the cost of drilling relief wells.
India to scrap petrol subsidies
June 27, 2010
The Indian government has opted to scrap its subsidy of petrol prices in an effort to cut its budget deficit.
Ministers also voted to raise the price of other fuels, including diesel and kerosene gas in an effort to raise money.
G20: Merkel insists there are no divisions with Obama
June 26, 2010
Germany’s chancellor has insisted that Europe’s leaders are making good progress in talks with the US about how to bolster fragile economic growth.
Angela Merkel told journalists at the G8 summit in Canada there was “mutual understanding” with President Barack Obama over deficit reduction plans.
IT gets a Royal seal of approval
June 21, 2010
The information technology industry was granted a rare Royal Charter at a full-blown ceremony at St Paul’s Cathedral on Thursday.
The Charter represents a final seal of approval for the activities of the industry’s guild, the Worshipful Company of Information Technologists (WCIT).
G20 nations stress economic recovery challenges
June 5, 2010
G20 finance ministers have said the recovery from the global economic crisis has been faster than expected, but significant challenges remain.
Meeting in South Korea, the ministers and central bankers from the world’s leading economies said excessive budget deficits should be tackled immediately.
Europe seeks new levy on banks to create crisis funds
May 26, 2010
A network of national funds should be introduced so the cost of bank failures are not met by the taxpayer, the EU internal market commissioner has said.
Michel Barnier said such funds would provide part of a broader system aimed at preventing future financial crises.
Global stock markets see sharp falls
May 25, 2010
Global stock markets fell heavily on Tuesday over continued fears about the debt problems in the eurozone.
In morning trade in Europe the FTSE 100 in London was down by 2.92%, Germany’s Dax index was 2.99% lower, while in France the Cac 40 index slid 3.59%.
Eurozone leaders approve Greece aid package
May 8, 2010
Leaders of the 16 EU member states that use the euro have approved an 110bn euro ($145bn; £95bn) loan to Greece to prevent its debt crisis from spreading.
European Commission President Jose Manuel Barroso said the eurozone would do whatever it took to safeguard Greece’s financial stability.
Goldman Sachs profits top $3bn
April 20, 2010
US bank Goldman Sachs has seen its profit for the first quarter of 2010 nearly double.
The bank reported net earnings of $3.46bn (£2.25bn) for the three months to March, up from $1.8bn a year ago.
Geithner set for talks on yuan during visit to China
April 8, 2010
US Treasury Secretary Timothy Geithner is due in China for talks with Vice-Premier Wang Qishan to discuss a long-running dispute over the yuan.
The last-minute visit comes as the US tries to persuade China to allow its currency to trade more freely on foreign exchange markets.