Business and Finance news

Iran’s state TV is reporting the country has produced laser-guided artillery shells, capable of hitting moving targets with high accuracy.
The Monday report quoting Defense Minister Gen. Ahmad Vahidi also says that the shell was an “intelligent” munition with the capability to identify its own targets.
The report was accompanied by footage showing an artillery piece firing […]

Restrained spending by consumers held growth in the U.S. economy to a 2.8% annual pace in the fourth quarter, slower than economists forecast while still the fastest pace in more than a year.
Gross domestic product, the value of all goods and services produced, climbed at a 2.8 percent annual pace following a 1.8 percent […]

South Africa

An accounting error is forcing Enterprise Financial Services Corp. to slash the profits it reported for 2010 and the first nine months of last year.
Earnings in 2010 may fall by as much as 55 percent from what the bank had claimed, Enterprise announced today. Profits could be cut as much as 33 percent from the […]

Britain

The official in charge of rescue efforts for the Costa Concordia says unregistered passengers might have been aboard the cruise liner when it struck a reef and capsized.
Civil protection chief Franco Gabrielli also told reporters Sunday that relatives of a Hungarian woman have told Italian authorities that she had telephoned them from aboard the ship […]

Greece is confident a debt relief deal with private creditors that is crucial to avoid default can be reached “very soon,” a government spokesman said Friday.
Prime Minister Lucas Papademos met for a third day with negotiators from the Institute of International Finance, which represents the private creditors who are being asked to take a loss […]

Belgian Prime Minister Elio Di Rupo reiterated a pledge to make extra budget cuts amid slower economic growth while calling on the European Union to step up efforts to bolster the region

An Italian coast guard official vehemently demanded that the captain go back to his crippled cruise ship to oversee its evacuation, but the captain repeatedly resisted, according to a shocking audiotape made public Tuesday.
Prosecutors have accused Capt. Francesco Schettino of manslaughter, causing a shipwreck and abandoning his vessel before all passengers were evacuated during the […]

U.K. Chancellor of the Exchequer George Osborne said he sees some reason for optimism in Europe, while acknowledging that 2012 is set to be a challenging year.