Switzerland imposes negative interest rate on sight deposits
The Swiss National Bank has imposed a negative rate of -0.25% on "sight deposits" with over 10 million Swiss francs ($10.22 million). A sight...
UK oil industry is on verge of collapse, says industry leader
Chairman of Brindex, the UK’s independent explorers’ association, Robin Allan, says the UK oil industry is “close to collapse.” In an interview with the...
UK retail sales posted 10-year record growth in November
UK retail sales in November grew by 6.4% year-on-year, the highest increase in the quantity bought since May 2004, the Office for National Statistics...
Low fuel costs causes drop in consumer prices
Consumer prices in the US were pulled lower because of low gasoline prices, which eased inflation in the economy.
According to the US Labor Department,...
Wellcome Trust makes £2.5bn thanks to Alibaba and JD.com
British independent charity that funds research to improve human and animal health, The Wellcome Trust, made £2.5 billion on its investment portfolio valued at...
Royal Mail was sold too cheaply, says a new report
A report that Business Secretary Vince Cable had commissioned concluded the government sold Royal Mail for £180 million less than it could have. The...
Lloyds shares to be sold, says HM Treasury
The Chancellor George Osborne announced on Wednesday that more Lloyds Banking Group shares will be sold to private ownership so that the government can...
Avon China pleads guilty to bribing local officials
Avon China, the Chinese subsidiary of Avon Products Inc., has pleaded guilty to bribing local officials to sell products to the country’s consumers.
The...
FedEx posts weak Q2 earnings, stock plunges
FedEx posted earnings of $2.14 per share, missing market predictions of $2.19. The company reported revenue of $11.90 billion for the quarter, up 4.4%...
Tar sands oil veto attempt fails in European parliamentary vote
Canadian energy companies and the government cheered with joy while green campaigners expressed their dismay after an attempt by a number lawmakers failed to...