Business

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American Express cutting 4,000 jobs this year

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American Express Co will be cutting 4,000 jobs this year. The credit card company posted high quarterly expenses and provisions for bad loans, disappointing...
Eurozone

ECB proposes 1.1 trillion euro injection to tackle deflation

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The European Central Bank President, Mario Draghi, has proposed a quantitative easing (QE) program based on monthly asset purchases of 50 billion euros until...
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S&P faces year ban from the commercial mortgage backed securities market

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Ratings agency Standard & Poor’s is facing a year-long ban from the commercial mortgage backed securities market because of misleading ratings it issued in...
BoE

BoE policymakers unanimous on holding rates, hawks become doves

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January’s Minutes of the Bank of England’s Monetary Policy Committee (MPC) meeting showed that all nine members voted to keep rates on hold, leaving the...
Sir John Sawers

Tech firms and spy agencies must work together, says ex-MI6 chief Sir John Sawers

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Former MI6 chief Sir John Sawers says technology firms and British intelligence agencies must work together and agree on data-sharing to halt terrorism. This...
Philip Hammond

Freeloading EU migrants exploiting UK’s welfare state, says Foreign Secretary

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In one of the most outspoken comments by a cabinet minister, UK’s Foreign Secretary Philip Hammond said his country was “wide open to abuse”...
market

IMF lowers forecast for global economic growth in 2015 and 2016

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The International Monetary Fund (IMF) has downgraded its forecast for global economic growth in 2015 and 2016. It also called for central banks and...
China

Chinese growth in 2014 was the slowest in over two decades

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In 2014 the Chinese economy grew at its slowest rate in over twenty years. China posted GDP of 7.4% in 2014 versus the same period...
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Denmark cuts deposit rate, will not remove currency peg to euro

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The Danish central bank reduced its deposit rate into negative territory on Monday as the market speculated that it could do something similar to...
UK

UK North versus South wealth gap is widening, says new study

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The gap between the UK's best- and worst-performing cities has widened dramatically over the past ten years, creating a two-tier economy of decline (mainly...