News
Bank of Japan says the economy will grow from July
The governor of the Bank of Japan has said the economy will expand between July and September this year as the country rebuilds itself following the earthquake and tsunami. "Most private economists believe that Japan's GDP growth rate will turn...
China's economy expands 9.7% as inflation accelerates
China's economy continued its boom in March and inflation accelerated to the fastest rate since 2008. Growth was at a faster-than-expected 9.7% between January and March from the same period a year earlier, the National Bureau of Statistics said. Consumer...
BP annual meeting sparks protests
BP faced angry protesters at its first annual general meeting since the disastrous Gulf of Mexico oil spill. It is almost one year since 11 workers were killed when a drilling rig leased by BP exploded, unleashing millions of barrels of oil. Fishermen...
Obama urges spending cuts and increased taxes on rich
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President Barack Obama has called for raised taxes on the rich as well as cuts in government spending in what he termed a balanced approach to cutting the huge US budget deficit. In a speech in Washington DC he outlined a package of tax increases and...
Nordic and Asian nations connected for growth, says WEF
Sweden and Singapore are the most competitive countries in the digital economy, according to a study by the World Economic Forum (WEF). Nordic and Asian economies are best at using information and communications technologies (ICT) to boost their growth...
Japan's government downgrades its outlook for growth
The Japanese government has downgraded its assessment of the economy in the wake of the devastation caused by last month's earthquake and tsunami. It said key areas of the economy would suffer, including industrial production and exports. The decision...
Armenia debates nuclear energy after Japan disaster
The future of the nuclear power plant at Metsamor and Armenia’s continued reliance on atomic energy has come under pressure following the nuclear disaster in Japan. The Armenian government is facing renewed calls by local environmentalists to shut...
Tepco may face $23.6bn compensation claims - JP Morgan
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Tokyo Electric Power Company (Tepco) may face as much as 2 trillion yen ($23.6bn; £14.5bn) in compensation claims, according to JP Morgan. The company has been grappling to contain the radiation leak crisis at its Fukushima Daiichi nuclear plant...
Oil prices surge to fresh two and a half year highs
Oil prices have surged to a two-and-a-half-year high on concerns about supply and a weaker dollar. Brent crude rose to $123.93 a barrel, while US light crude rose to $111.30. Other commodity prices were also boosted by the fall in the US currency, as...
US budget: Barack Obama hopes to avoid shutdown
Talks aimed at avoiding a shutdown of the US government have broken up with no deal, leaving negotiators just hours to agree a budget compromise. President Obama said that progress had been made after night-time talks with congressional leaders. He...
