Business and Finance news

China cut the amount of cash that banks must set aside as reserves for the second time in three months to spur lending as Europe

Europe

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 majority owner of the Maple Leafs says it rejected

Contradicted by key former executives and challenged by his company’s ex-lawyers, James Murdoch is expected back for a second grilling in Britain’s Parliament Thursday over the phone hacking scandal that has shaken his father’s media empire.
Although the senior News Corp. executive has long insisted he knew nothing of the culture of criminality whose exposure has […]

A spokesman says business is back to normal at the Warsaw’s Frederic Chopin airport, which shut down for some 30 hours after a plane was forced to land on its belly because its landing gear failed.
Przemyslaw Przybylski said Thursday that both runways were in use and that there was no damage to the runway used […]

Chrysler said Tuesday its U.S. sales jumped 27 percent in October, while General Motors reported a slimmer 2 percent increase on increased demand for both cars and trucks.
Chrysler Group LLC sold more than 114,000 cars and trucks last month compared with 90,000 a year earlier. The results marked the Auburn Hills, Mich.-based automaker’s best October […]

Higher fares helped Delta Air Lines post a bigger third-quarter profit even though fuel prices jumped and passenger traffic was flat.
But the company’s results missed Wall Street expectations and helped push down its stock price 2.3 percent in pre-market trading.
In the past, airlines struggled to make money in a weak economy or when fuel prices […]

EU finance ministers neared agreement Saturday on forcing banks to raise just over euro100 billion ($140 billion) to make sure they have enough reserves to weather further losses on their Greek debt holdings and market turmoil, a European official said.
Finance ministers from the 17 nations that use the euro decided Friday that banks must take […]