Business

11
Jul
Portugal and Its “Hide and Sick” Stocks Cause Scare on Emerging Markets

The emerging stocks in Europe managed to recover after a series of losses created by the reports about the debt problems of Espirito Santo one of the most important Portuguese banks. Lots of concerns about an entire new financial crack coming from the European continent had managed to ripple the world beforehand and determined quite a loss on Wall Street. This also countered the high level activity in the emerging assets which had been caused... [read news]

29
Jan
Why the world is watching the Fragile Five

After three weeks of punishing losses to its currency the lira, Turkey's central bank has taken what is being viewed as decisive action to reverse negative sentiment. At an emergency meeting Tuesday, the country's main interest rate was raised by 4.25 percent to 12 percent. "A hike in interest rates was necessary. And it needed to be decisive and credible and it was," explains Marios Maratheftis, Global Head of Macro Research for Standard... [read news]

24
Jan
Israeli President Shimon Peres: Hezbollah is 'main killer' in Syria

Israel's President Shimon Peres has pointed a finger at Iran over the carnage in Syria, labeling the Iranian-backed Shiite militant group Hezbollah as "the main killer" in the war-ravaged country. Speaking to CNN's Richard Quest at the World Economic Forum in Davos, Switzerland, Peres questioned the authenticity of Iranian President Hassan Rouhani's stated desire for peace in Syria, given its support for the militia. "The President... [read news]

19
Jan
Deutsche Bank reports surprise loss as legal costs mount

Deutsche Bank has reported a surprise loss for the fourth quarter of 2013, after releasing its latest results before they were expected. Overall Deutsche said it posted a pre-tax loss of 1.153bn euros for the final quarter of 2013. The bank said that litigation costs and restructuring had weighed heavily on its financial performance. Litigation costs mounted up to 528m euros (£435.3m) for the period, while revenue fell 16%. At the end of... [read news]

09
Jan
IBM commits $1bn to new Watson supercomputer division

Computing giant IBM has said it will invest $1bn (£608m) creating a new division for Watson, its Jeopardy-winning supercomputer. Watson, named after former IBM president Thomas Watson, beat its human rivals in the US TV quiz show in 2011. The investment includes a $100m fund to boost innovation around Watson-related developer apps. The new division will be run by Michael Rhodin, former senior vice president of the company's software... [read news]

04
Jan
Panama Canal dispute: Spain in talks to resolve row

The Spanish government is in talks with Panama to try to resolve a row over the expansion of the Panama Canal. Spain's public works minister Ana Pastor will fly to Panama this weekend, following a meeting between diplomats on Friday. Work began on the expansion of the shipping hub in 2009, but it has gone over-budget by $1.6bn (£1bn). The group behind the project, led by Spain's Sacyr, has threatened to halt work unless the extra money is... [read news]

01
Jan
Fiat agrees to buy up rest of Chrysler

The Italian motors giant Fiat has agreed to buy the remaining 41% of Chrysler it does not own in a move that will create the world's seventh-largest car company. Fiat has owned a majority stake in the US company since 2009. The agreement ends drawn-out negotiations with the current owners, Veba, the healthcare trust affiliated to the United Auto Workers' union. Chrysler and Fiat will pay the trust an initial $3.65bn (£2.2bn). Once the... [read news]

30
Dec
China local government debt surges by 70%

China has local government debts of 17.7 trillion yuan ($2.9tn), up 70% from three years ago, according to an official report. China's government asked the National Audit Office (NAO) in July to do a round-up of the debts outstanding at a local level. The report showed some local governments were using new loans to repay more than a fifth of their debt. China has a total government debt of about 58% of its economic output. Persistent fears... [read news]

28
Dec
Japan moves close to beating 15 years of falling prices

Japanese consumer prices have risen at the fastest pace in five years, showing government policies to end its deflation problem may be taking effect. Core inflation excluding food rose 1.2% in November from the previous year, surpassing market expectations. Japan is now more than half-way towards meeting the central bank's goal of achieving 2% inflation by about 2015. This has been due to a massive monetary stimulus policy aimed at... [read news]

23
Dec
Target sued by customers over credit card breach

US retailer Target is being sued by at least 11 customers over a credit card security breach that saw details of more than 40 million cards stolen. The lawsuits, each seeking class-action status, were filed in US courts in recent days and seen by the BBC. Meanwhile, major US banks have moved to limit damages by restricting spending on debit cards. Security researchers said the stolen card numbers had been seen on underground markets. US... [read news]


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