Business
JPMorgan reports 8% fall in profits but Goldman Sachs income rises in Q2 2014
JPMorgan Chase and Goldman Sachs have seen mixed results from their investment businesses. JPMorgan reported an 8% fall in Q2 2014 profits after declines in...
BRICS countries agree to create $100 billion development bank and emergency reserve fund
The BRICS countries have signed a deal to create a new $100 billion development bank and emergency reserve fund. Brazil, Russia, India, China and South...
WTO: US violated global trade rules by imposing tariffs on products from China and India
The United States violated global trade rules when it imposed tariffs on products from China and India, the World Trade Organization (WTO) has found. In...
Citigroup agrees to pay $7 billion to settle sub-prime mortgage case
Citigroup has agreed to pay $7 billion to US authorities to settle an investigation into risky sub-prime mortgages. Citigroup will pay $4 billion to the...
Sotheby’s to auction art on eBay
Sotheby's and eBay will create a web platform to allow viewers to bid on and buy art. According to Sotheby's chief operating officer Bruno Vinciguerra,...
Lindt agrees to buy rival Russell Stover
Swiss chocolate company Lindt & Sprungli has agreed a deal to buy American rival Russell Stover. Lindt said the takeover would help it to expand...
Samsung finds evidence of suspected child labor at Chinese factory
A Samsung Electronics investigation has found "evidence of suspected child labor" at a factory of its Chinese supplier Dongguan Shinyang Electronics. The South Korean giant...
GSK China scandal: Corporate investigator Peter Humphrey charged with illegally obtaining private information
British national Peter Humphrey and his wife Yu Ying Zeng, an American national, have been charged with illegally obtaining private information in GSK China...
CYNK’s shares trading suspended after surging 23,000%
Trading in CYNK Technology has been suspended by the US Securities and Exchanges Commission (SEC) after shares in the little-known social networking company surged...
Banco Espirito Santo does not need extra funds, says Portugal’s central bank
In a bid to ease investor’s concerns, Portugal's central bank has stated that Banco Espirito Santo does not need extra funds. Banco Espirito Santo (BES),...
Su Bin: Chinese businessman hacked US companies
Chinese businessman Su Bin has been charged by US authorities with hacking into the computer systems of Boeing and other companies with large defense...
Burberry investors rejects Christopher Bailey’s pay
Burberry investors have voted against the company boss's pay package at the annual general meeting in London. 52% of shareholders voted not to support Christopher...
Barack Obama’s Austin speech interrupted by Hispanic hecklers
President Barack Obama was interrupted by two people while delivering a speech on the economy on Thursday at the Paramount Theater in Austin, Texas. The...
Afghanistan elections 2014: Ashraf Ghani calls for vote audit
Afghan presidential candidate Ashraf Ghani has called for an "extensive audit" of votes. Ashraf Ghani made the appeal before meeting US Secretary of State John...
Amazon sued by FTC over child in-app purchases
Amazon has been sued by the Federal Trade Commission (FTC) for allowing millions of dollars of unauthorized purchases by children in its mobile app...
Banco Espirito Santo: European and US stock markets fall over Portugal’s bank concerns
US and European stock markets have fallen over concerns about the health of one of Portugal's biggest banks. Shares in Banco Espirito Santo were suspended...
China’s trade surplus narrows to $32 billion in June 2014
China's trade surplus narrowed to $32 billion in June 2014 after export growth slowed and imports increased, showing the economy is still stabilizing after...
Burberry announces strong rise in sales for Q2 2014
Luxury fashion brand Burberry has announced a strong rise in sales but warned that profits could be hit by unfavorable exchange rates. Retail revenues for...
Carrefour shuts India business
Carrefour is shutting its business in India less than four years after it opened its first store in the country. One of the world's largest...
Crumbs Bake Shop closes all cupcake stores in US
Cupcake chain Crumbs Bake Shop has said it will shut all its shops, a week after its shares were suspended from trading on the...
Greece: Public sector workers begin 24-hour strike
Greek public sector workers have begun a 24-hour strike to protest against continuing cuts in government spending. Hospitals, tax offices, prisons and archaeological sites are...
John Kerry arrives in Beijing for China-US annual dialogue
Secretary of State John Kerry has arrived in Beijing for the annual China-US dialogue. China’s President Xi Jinping has called for mutual respect between the...
Vatican bank’s profit plunges to 2.9 million euros in 2013
The profit of the Vatican bank plunged in 2013 largely due to a clean-up process which has seen it end relationships with 3,000 customers. Officially...
Samsung forecasts 25% drop in profit for Q2 2014 due to slowdown in smartphone market
Samsung Electronics is forecasting a 25% drop in profit for Q2 2014 due to a slowdown in the smartphone market and a strong Korean...
Afghanistan elections 2014: Abdullah Abdullah claims victory in presidential run-off
Abdullah Abdullah has claimed victory in the second round of Afghanistan’s presidential race, despite results giving a lead to his rival, Ashraf Ghani. Addressing supporters...
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