Business
Latest stories
Euro Slips ahead of Greek Debt Talks

The euro inched lower Monday ahead of more talks aimed at solving Greece's debt crisis, as investors eye a slate of speeches by Federal Reserve officials for further clues about the timing of an interest rate hike.

The single currency eased to $1.0813 and 129.69 yen on Monday from $1.0821 and 129.98 yen in New York on Friday.

W140 Full Story
Saudi Urges non-OPEC Members to Cooperate to Boost Price

Oil producers outside OPEC must cooperate to boost falling crude prices as the cartel refuses to take responsibility alone, Saudi Arabia's oil minister has said.

"We refuse to take responsibility alone because (OPEC) produces 30 percent of market output and 70 percent comes from outside," Ali al-Naimi said in remarks carried Monday by the Saudi Press Agency (SPA).

W140 Full Story
Fitch Revises Finland Rating Outlook to 'Negative'

Bond rater Fitch cut the outlook for Finland's sovereign debt grade to "negative" Friday, saying the country's growth prospects have worsened, in part because of a fall in exports to Russia.

Finland still enjoys a top-level AAA rating, Fitch said. But it noted that GDP contracted 0.1 percent last year after slowing the previous two years.

W140 Full Story
EU Offers Greece more Money but Demands Reforms

The European Union offered Greece funds Friday to deal with what it called a "humanitarian crisis" after Prime Minister Alexis Tsipras vowed to clarify reform pledges demanded by the country's creditors.

After crisis talks between Tsipras and European leaders, EU Commission chief Jean-Claude Juncker said he was making available two billion euros ($2.16 billion) in unused EU development funds to Greece.

W140 Full Story
Switzerland, Luxembourg Plan to Join China-led Development Bank

Switzerland and Luxembourg are planning to join the Beijing-backed development bank AIIB, China's finance ministry said, the latest European nations to sign up to the multilateral lender which has drawn skepticism from the United States.

Britain, France, Germany and Italy have already announced their intentions to join the Asian Infrastructure Investment Bank -- which is viewed by some as a competitor to the World Bank and the Manila-based Asian Development Bank.

W140 Full Story
Greece in New Race against Time to Get Bailout on Track

Greece was in a new race against time on Friday to get its EU-IMF bailout on track, with its international creditors pushing for a clear reform pledge.

The two-month-old radical government of Prime Minister Alexis Tsipras has until April to reach agreement with its creditors, but its cash reserves are running dangerously low.

W140 Full Story
British Bank TSB Agrees Takeover from Spain's Sabadell

TSB, a division of Britain's bailed-out lender Lloyds Banking Group, has accepted a £1.7 billion takeover from Spanish bank Sabadell, the pair said Friday.

The two lenders have agreed terms on the bid which was pitched at 340 pence per share and worth 2.3 billion euros or $2.5 billion, they said in a statement.

W140 Full Story
OECD Chief Welcomes European Participation in China-backed Bank

The head of the OECD on Friday welcomed major European countries' participation in a new China-backed infrastructure bank, saying it would ensure the institution was run under existing global standards.

Britain, Germany, France and Italy have announced their intention to sign up for the Asian Infrastructure Investment Bank, to the consternation of the United States and Japan, which lead the World Bank and the Manila-based Asian Development Bank respectively.

W140 Full Story
Euro Edges up in Asia after Greece Reform Pledge

The euro ticked higher Friday after Greece promised to provide its creditors with a new list of reforms to secure crucial bailout cash and avoid an exit from the eurozone.

The single currency bought $1.0685 and 128.98 yen in Tokyo afternoon trade, against $1.0660 and 128.77 yen in New York as Greek Prime Minister Alexis Tsipras said the country's bailout was "back on track".

W140 Full Story
'ISIS Killers' Inspire Adman Omar Boustany to Advertise Himself in Unusual Manner

A Lebanese adman has taken an unusual path to draw the attention of headhunters, or recruiters, after he found himself without a job.

“When I came back from Dubai a few months ago, I found myself looking for a new (advertising) agency and a new opportunity but everything was on stand-by because of the situation in the region and the bad economical situation in Lebanon,” Omar Boustany said.

W140 Full Story