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Archives by Year:
Chinese growth slows to three year low
The National Bureau of Statistics (NBS) found China’s growth fell to 7.6 percent, down from 8.1 percent in the first quarter. The world’s second-biggest economy has been plagued with a sluggish property market and enervated exports from Europe, its biggest trade partner, as well as a too-heavy reliance on domestic consumption. According to the WSJ, […]
China cuts cost of crude
Chinese authorities have reduced the fuel price by five percent and said the move was made as a result of internationally low crude oil prices and changes in global and regional economic conditions. The prices at the pumps are now at the lowest levels since December 2010. The National Development and Reform Commission (NRDC) said […]
Spanish recession targeted
The first instalment is part of an emergency €100bn aid initiative agreed in June to inject some much needed funds into the wavering economy and to prevent any further downward spiralling by the banks. EU heavyweights have also decided to give the region an additional year to try and get its budget deficit back in […]
EU banks set for regulatory shake up
One single bank supervisor will report directly to the European Central Bank in order to police the largest and most influential banks in the EU, in the wake of the Libor scandal that rocked UK financial services. There are also plans to outlaw any deliberate manipulation of interest rates, and a review into how Libor […]
UK prepared to close its doors to Greece
Addressing his MPs at the House of Commons liaison committee yesterday, Cameron said he’d “do whatever it takes to protect the United Kingdom from a Greek influx,” should the nation leave the eurozone. His comments have surprised a number of Tories backbenchers, as by law, nationals of the 27 countries in the EU usually have […]
GlaxoSmithKline found guilty in US drug fraud case
The fine comes after the British heavyweight admitted several criminal charges relating to US marketing laws, by promoting two of its drugs for unapproved use and for failing to report significant safety data about one of its diabetes medications to the Food and Drug Administration (FDA). The company has also been found guilty of bribing […]
