Business and Finance news
May 14, 2011
Greece’s budget deficit is forecast to exceed the limit under a European Union-led bailout, reinforcing calls for a new rescue package to stave off default as EU finance ministers prepare to meet next week.
The fiscal shortfall is seen at 9.5 percent of gross domestic product in 2011, the European Commission in Brussels said in […]
May 11, 2011
Indonesia’s central bank will probably keep interest rates unchanged for a third consecutive meeting to support the economy, allowing gains in the rupiah to reduce inflationary pressures.
Bank Indonesia will keep its benchmark reference rate at 6.75 percent, according to all 10 economists surveyed by Bloomberg News. The central bank is due to release its […]
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April 21, 2011
The evidence shows that an ex-billionaire on trial in the biggest hedge fund insider trading case in history used corrupt, well-connected friends and employees to get secrets and earn tens of millions of dollars illegally, a prosecutor said in his closing argument Wednesday.
“The evidence is now in, and you know the evidence is overwhelming,” Assistant […]
April 20, 2011
Japan’s exports in March fell for the first time in 16 months, hit by the fallout from last month’s massive earthquake and tsunami, which destroyed factories and crippled supply chains, the government said Wednesday.
Auto exports especially took a beating in the month as the twin disasters forced Toyota, Honda and Nissan to suspend their all […]
March 15, 2011
One of the top conservatives in the House is opposing a measure to keep the government running for three more weeks while the White House and Republican lawmakers seek a longer-term agreement on spending cuts.
Republican Rep. Jim Jordan of Ohio chairs a group of conservative lawmakers that makes up a sizable majority of House Republicans.
Jordan […]
March 8, 2011
Britain’s economy can withstand the government’s budget squeeze and an interest-rate increase, according to research published this week by Ben Broadbent, the Goldman Sachs Group Inc. (GS) economist who will join the Bank of England’s rate panel in June.
“The fiscal adjustment that the government plans over the coming years is undoubtedly severe,” London-based economists […]
February 13, 2011
President Barack Obama’s budget plan would cut $100 billion from Pell Grants and other higher education programs over a decade through belt-tightening and use the savings to keep the maximum college financial aid award at $5,550, an administration official said.
Nearly $90 billion of the projected savings would be achieved through two changes, said the official, […]
January 31, 2011
Intel says it found a design flaw in a recently released computer chip and will discontinue its production. While the flaw will mean lost revenue, the chip maker is raising its overall revenue outlook.
Its shares are down 1.5 percent in morning trading.
Intel Corp. said Monday it has stopped shipment of the chip, codenamed “Cougar Point” […]
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January 13, 2011
The U.S. economy ended last year on an encouraging note, with all parts of the country showing improvements flat irons. Factories produced more, shoppers spent more and companies hired more
September 25, 2010
Wyndham Exchange & Rentals, part of the Wyndham Worldwide family of companies, has agreed to buy ResortQuest for $56 million in a deal that is expected to close in the coming weeks.
In Hawaii, Wyndham Vacation Ownership, Wyndham Worldwide’s time share division, has 13 resorts.
With the ResortQuest purchase announced Friday, Wyndham Worldwide (NYSE: WYN) is expected […]
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