Business

22
Nov
Online gambling in New Jersey signals US expansion

Online gambling has been launched in the state of New Jersey, a sign that the US may slowly be opening up to the multibillion-dollar industry. Unlike in many countries, online gambling remains prohibited by the US government because of legislation passed in 1961. Individual states may allow online gambling if it does not cross borders. A test is under way in New Jersey to make sure only people within the state can play. Until now, only two... [read news]

21
Nov

The average was buoyed by a report showing fewer Americans were looking for work, as well as surging tech stocks, which also pushed the Nasdaq average higher. The Dow Jones rose 109.17 points to 16,009.99, and the Nasdaq index rose 47.88 points to close at 3969.15. The S&P 500 also rose, adding 14.48 points to 1,795.85. The US Labor Department said that initial claims for unemployment benefits fell by a better-than-expected 21,000 to a... [read news]

20
Nov
How Africa's natural resources can drive industrial revolution

The economic performance of Africa in the last few years has been remarkable. The continent has consistently defied the global trend. Five years after the global financial system came perilously close to collapse, the global economic outlook is still uncertain. In Europe, GDP is still below pre-crisis levels and unemployment is at a record high. Recovery in the United States, although stronger, remains weak by historic standards, and even... [read news]

19
Nov
Easyjet sees profits boost through seat booking option

Easyjet saw a 51% rise in yearly pre-tax profits to £478m, partly thanks to the introduction of allocated seats. Chief executive Carolyn McCall said allowing passengers to book their seats had had a big impact on profitability. "It's a nice, calmer boarding process, and a lot of people have taken up the option," she said. Shares rose almost 6% in early trading, boosted by the airline's plans to hand out £175m to shareholders through a... [read news]

18
Nov
'Legitimate' Bitcoin's value soars before Senate hearing

The value of virtual currency Bitcoin surged to over $600 (£372), ahead of a US Senate committee hearing. The committee has been told virtual currencies are a "legitimate financial service" with the same benefits and risks as other online payment systems. The Homeland Security and Governmental Affairs Committee is exploring the "promises and risks" of Bitcoin for "government and society at large". The currency has trebled in value since... [read news]

17
Nov
Dubai Air Show: Boeing leads order books race

Airlines in the Gulf have placed a number of high-value plane orders on the first day of the Dubai Air Show, with US giant Boeing a major winner. Dubai-based Emirates airline placed an order for 150 of Boeing's new 777 mini-jumbos, in a $76bn (£47bn) deal. Other orders from Etihad Airways, Qatar Airways and Lufthansa for some 109 of the new 777, previously codenamed 777X, brought its sales total to $95bn. Emirates has also ordered 50... [read news]

16
Nov
JP Morgan agrees $4.5bn mortgage settlement

US investment bank JP Morgan has agreed to pay $4.5bn (£2.8bn) to investors who lost money on mortgage-related securities during the financial crisis. The settlement is with 21 major institutional investors. Mortgage-related investments were a major factor in the crisis, which began in 2007 with the collapse of the US housing market. Last month JP Morgan agreed a separate, preliminary $13bn deal with the US government over mortgage... [read news]

14
Nov
Yellen Says Fed Should Not Withdraw U.S. Stimulus Too Soon

Janet Yellen, the nominee for chairman of the Federal Reserve, said she’s committed to promoting a strong economic recovery and will ensure monetary stimulus isn’t removed too soon. “I consider it imperative that we do what we can to promote a very strong recovery,” she said in response to a question during testimony today to the Senate Banking Committee in Washington. “It’s important not to remove support, especially when the... [read news]

13
Nov
Eni CEO 'optimistic' about company's future in Libya

On Monday the key gas pipeline between Libya and Italy was closed by protesters demanding greater rights for Libya's minority Amazigh, also known as Berber. The Chief Executive Office (CEO) of Italian energy company Eni - who jointly own the pipeline - told HARDtalk its closure would not cause problems for Italy. "There is so much gas around," said Paolo Scaroni, "we have already been living through a winter completely without Libyan... [read news]

12
Nov
Insurers Press for Way Around Healthcare

Senior White House officials say the administration is open to ways in which insurers can handle more enrollments and has stepped up efforts to make that possible. Some major health insurers are so worried about the Obama administration’s ability to fix its troubled health care website that they are pushing the government to create a shortcut that would allow them to enroll people entitled to subsidies directly rather than through the... [read news]


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Highlights of the month

The Foo Fighters Hit No. 1 in UK Charts

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An independent board tasked with reviewing National Security Agency...
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Andre Villas-Boas: Tottenham sack manager

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Daryl Hall talks Rock and Roll Hall of Fame inductions: ‘It’s all political’

Daryl Hall talks Rock and Roll Hall of Fame inductions: ‘It’s all political’

Daryl Hall, the silky voiced singer of Hall & Oates, is very busy these days....
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