Business
Moody’s cuts UK credit rating from AAA to Aa1
The UK has lost its top AAA credit rating for the first time since 1978 on expectations that growth will "remain sluggish over the...
Eurozone recession will persist in 2013, says European Commission
The European Commission has said Spain, France and Portugal have failed to cut overspending to agreed targets. Spain's government deficit was 10.2% of the country's...
PayPal Here device launched in UK
PayPal has launched Here device, a chip-and-pin machine designed to offer new sales methods to UK small businesses that have previously relied on cash...
Mohamed Morsi calls Egypt’s parliamentary elections
Egypt’s President Mohamed Morsi has called parliamentary elections, starting on April 27 and end in June. A presidential decree said voting would take place in...
Global stock markets fall after Federal Reserve comments
Global stock markets have fallen after some members of the Federal Reserve suggested its stimulus measures may be increasing the "risks of future economic...
Russia is losing billions illegally, says central bank governor Sergei Ignatiev
Sergei Ignatiev, Russia's central bank governor, has said that $49 billion left the country illegally last year. The capital flight, some 2.5% of Russia's annual...
LIBOR setting is still not clean and free of fraud, says US Commodity Futures Trading Commission
US regulator Commodity Futures Trading Commission said the way that the key LIBOR interest rate is set in the UK is still not clean...
Hillary Clinton will charge $200,000 per speech on her lecture circuit
It was revealed today that former US Secretary of State Hillary Clinton will be charging $200,000 per speech on her lecture circuit. The massive fee...
Silvio Berlusconi tax letter sent to voters sparks outrage among rivals
Former PM Silvio Berlusconi is trying to buy votes in Italy's election on Sunday by sending out letters promising a tax rebate, his rivals...
FBI to investigate Heinz share trades ahead of takeover
The FBI is joining an investigation into suspicious trades ahead of the Heinz takeover deal last week. The US financial regulator, the Securities and Exchange...
Bulgarian government resigns after nationwide protests against electricity prices
Bulgarian government is resigning after nationwide protests against high electricity prices and austerity, Prime Minister Boiko Borisov has announced. "I will not participate in a...
Japan posts record trade deficit in January
Japan's monthly trade deficit hit a record in January after its recent aggressive monetary policy stance weakened the yen sharply. Exports rose in January, the...
Danone cuts 900 jobs after European sales fell 3%
French food and drink company Danone has announced it will cut 900 jobs after weakness in southern European economies hit sales. The owner of Activia yogurt...
Gas prices hit more than $5 a gallon in US
Fuel prices have skyrocketed across the US, with a gallon of gas reaching past $5.00 in some parts of the country. The price of petrol...
Burger King Twitter account hacked by a McDonald’s fan
Burger King’s Twitter account was hacked by a McDonald’s fan. Burger King’s Twitter page, which has more than 89,000 followers, has been changed to feature...
Japan shares rise on weaker yen hopes
Japanese shares have risen after finance ministers of the G20 group of nations avoided singling out Japan for criticism over the recent yen weakness. The...
Iberia workers begin 5-day strike over jobs and salaries cuts
Spanish airline Iberia workers have begun a five-day strike in protest at planned cuts to jobs and salaries. Iberia has cancelled more than 400 flights...
Rafael Correa re-elected for a third term as Ecuador’s president
Rafael Correa has been re-elected for a third term as Ecuador's president with more than 50% of the vote. His main challenger, Guillermo Lasso, has...
BMW recalls 570,000 cars in US and Canada over faulty cable
German carmaker BMW has decided to recall almost 570,000 cars in the U.S. and Canada because a battery cable connector can fail and cause...
Facebook will not pay any tax for 2012 despite making $1.1 billion in pre-tax profits in US
According to a report released on Thursday, Facebook will not pay any tax for 2012 despite making $1.1 billion in pre-tax profits from U.S....
Cyprus presidential election: Nicos Anastasiades has a 15-point lead in the polls over his rival Stavros Malas
People in the Republic of Cyprus have begun voting for a new president as centre-right leader Nicos Anastasiades has a 15-point lead in the...
G20 Moscow Meeting: UK, France and Germany push for global tax reform
France, Germany and the UK have launched a drive for new global rules to clamp down on corporate tax avoidance. The three are seeking backing...
Jesse Jackson Jr. charged with fraud
Jesse Jackson Jr., former congressman and son of Chicago civil rights leader the Rev Jesse Jackson, has been charged with spending campaign funds on...
Warren Buffett to buy Heinz for $28 billion
Warren Buffett is set to buy food giant Heinz in a deal worth $28 billion. Warren Buffett's Berkshire Hathaway company and private equity firm 3G...
American Airlines and US Airways merger creates the world’s biggest airline
American Airlines and US Airways are to announce their official merge to become the world's biggest airline after the boards of both companies approved...
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