Britain’s Cameron makes personal plea to tax havens
LONDON: British Prime Minister David Cameron on Monday wrote to leaders of oversees tax havens, urging them to help the country’s efforts to combat tax evasion and avoidance. Read More →
SocGen’s Russian head faces jail over alleged bribe
MOSCOW: The head of Societe Generale’s Russian unit was facing up to seven years in prison after investigators charged him Thursday with soliciting a $1.5-million bribe in what one banking source...
EU raids oil majors in probe over possible price fixing
BRUSSELS, Belgium (AFP) – (AFP) – The European Commission has carried out surprise inspections at several major oil companies over possible price fixing in breach of EU anti-trust rules. Read More →
GDF Suez reveals sale of Brazil dam stake to Mitsui
PARIS: French energy group GDF Suez is to sell a stake of 20 percent in a giant dam being built in Brazil to Japanese group Mitsui & Co to reduce debt, GDF Suez said on Monday. Read More →
China industrial production up 9.3% in April
BEIJING: Industrial output in China rose 9.3 percent in April, the National Bureau of Statistics (NBS) said on Monday, accelerating from March but below market expectations, underscoring sluggish growth...
‘Dual-track’ system likely to replace Libor: FT
LONDON: A dual-track system combining survey-based rates and objective data is set to replace key global interest rate Libor, the Financial Times reported on Monday. Read More →
EU ministers to thrash out tax clampdown
BRUSSELS: As tens of millions languish on the dole with EU austerity blamed for deepening recession, finance ministers will switch their focus Tuesday from bailout negotiations to the pursuit of a trillion-euro...
Up to 200 jobs to be cut at Germany’s top tabloid ‘Bild’
BERLIN: Up to 200 jobs could be slashed at top German tabloid Bild, as its publishing group seeks to make some 20 million euros ($26 million) in cost savings, according to a media report on Sunday. Read More →
G7 smoothes divisions, agrees on currency policy
AYLESBURY, United Kingdom: The Group of Seven advanced economies smoothed over US-European differences at a weekend meeting on how to balance deep austerity measures with ways to support fragile growth. Read More →
US budget gap narrows as April posts surplus
WASHINGTON: The United States’s yawning annual budget deficit narrowed in April as government coffers brimmed with the largest monthly surplus in five years, official data released Friday showed. Read More →
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