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Economy

EU economic sanctions on Russia won’t affect gas sector – Van Rompuy
EU sanctions on Russia will cut Moscow's access to “sensitive” technologies in the oil sector, according to European Council head Herman Van Rompuy. The gas sector – which Europe depends on – will be unaffected, including Gazprom's South Stream pipeline.

25.07.2014 19:41

Legislation allowing US consumers to unlock their cell phones clears Congress
The US House of Representatives unanimously passed legislation on Friday that would allow consumers to “unlock” their cell phones in order to switch wireless networks. It now heads to President Obama for his signature.

25.07.2014 23:09

Lloyds in 'late stage' of Libor settlement talks, victims remain unaddressed
Lloyds Banking Group (LBG) is nearing a settlement with US and UK regulators for its alleged role in the manipulation of Libor rates – the major interest rate benchmark that determines the cost of up to $350 trillion worth of global financial products.

25.07.2014 16:04

Sanctions against Russia spark AK-47 buying frenzy in US
Russian-made firearms are reportedly flying off the shelves of American gun stores after the United States Treasury Department announced sanctions last week against the maker of the popular AK-47 rifle.

25.07.2014 16:07

Bulgaria's Prime Minister resigns as banking crisis unfolds
The Prime Minister of Bulgaria Plamen Oresharski has resigned his post. His decision came after accusations by opponents of failing to cope with the worst banking crisis in 17 years.

25.07.2014 06:27

Big BRICS for smaller nations: How unconditional can the NDB conditions be?
Jim O’Neill would have never imagined his intellectual exercise will turn into flesh and blood one day –the “accidentally” huddled initials of geographically disparate nations will become so real to make the New Development Bank (NDB).

25.07.2014 10:34

Ukraine votes to keep Western companies out of gas industry
Ukraine’s parliament has rejected allowing EU and US companies to buy up to 49 percent of oil and gas company Naftogaz, and also said they were against liquidating the national energy monopoly.

25.07.2014 09:29

1.1 million UK households could be in ‘debt peril’ by 2018
A modest increase in interest rates could render almost 25 percent of UK households in severe financial stress, according to a report published on Thursday. The Bank of England (BOE) has confirmed that such rate hikes are imminent.

24.07.2014 16:31

US growth shakiest since Great Recession - IMF
The International Monetary Fund (IMF) has slashed its growth expectations for the world’s biggest economy to 1.7 percent for the year, after a harsh winter crushed growth in the first quarter.

24.07.2014 07:25

​Bank of England: Growing number of elderly Britons working later in life is driving down wages
Britain’s more mature citizens who choose to delay their retirement because they fear running out of funds are driving UK wages down, the Bank of England (BOE) claims.

23.07.2014 18:52

Every 25th New Yorker is a millionaire - study
​One in 25 New Yorkers is a millionaire according to a study, which ranked the Big Apple fourth in the top 20 global cities for high earners. Millionaires are defined as individuals with more than $1 million in net assets, excluding a primary residence.

23.07.2014 13:04

​New Development Bank ushers in a new era of money
The modestly reported Fortaleza BRICS conference delivered a seismic shift in finance: a 21st century economic development as Bretton Woods in the last century.

22.07.2014 14:05

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