Qantas considers offshore option
Australian airline Qantas could transfer as many as 7,000 jobs out of its home country as it seeks to save costs, according to newspaper reports. Chie…
Brazil buy boosts Belgium's Inbev
Belgian brewing giant Inbev has seen its profits soar thanks to its acquisition of Brazil's biggest beer firm Ambev last year. Inbev, which makes Stel…
Parmalat sues 45 banks over crash
Parmalat has sued 45 banks as it tries to reclaim money paid to banks before the scandal-hit Italian dairy company went bust last year. The firm colla…
Dutch bank to lay off 2,850 staff
ABN Amro, the Netherlands' largest bank, is to cut 2,850 jobs as a result of falling profits. The cuts - amounting to 3% of the bank's workforce - wil…
Bank opts to leave rates on hold
The Bank of England has left interest rates on hold at 4.75% for a sixth month in a row. The Bank's Monetary Policy Committee (MPC) decided to take no…
Macy's owner buys rival for $11bn
US retail giant Federated Department Stores is to buy rival May Department Stores for $11bn (£5.7bn). The deal will bring together famous stores like …
Khodorkovsky ally denies charges
A close associate of former Yukos boss Mikhail Khodorkovsky has told a court that fraud charges levelled against him are "false". Platon Lebedev has b…
'Standoff' on Deutsche's LSE bid
Deutsche Boerse investors unhappy with its London Stock Exchange bid will have no chance to throw out the exchange's management until May, Reuters say…
WorldCom trial starts in New York
The trial of Bernie Ebbers, former chief executive of bankrupt US phone company WorldCom, has started in New York with the selection of the jury. Mr E…
Bank voted 8-1 for no rate change
The decision to keep interest rates on hold at 4.75% earlier this month was passed 8-1 by the Bank of England's rate-setting body, minutes have shown.…
Deutsche attacks Yukos case
German investment bank Deutsche Bank has challenged the right of Yukos to claim bankruptcy protection in the US. In a court filing on Tuesday, it said…
Ukraine trims privatisation check
Ukraine is to review "dozens" of state asset sales as the country's new administration tackles corruption. The figure announced by President Viktor Yu…
GM issues 2005 profits warning
General Motors has warned that it expects earnings this year be lower than in 2004. The world's biggest car maker is grappling with losses in its Euro…
JP Morgan admits US slavery links
Thousands of slaves were accepted as collateral for loans by two banks that later became part of JP Morgan Chase. The admission is part of an apology …
HealthSouth ex-boss goes on trial
The former head of US medical services firm HealthSouth overstated earnings and assets to boost the company's share price, it was claimed in court. Ri…
LSE 'sets date for takeover deal'
The London Stock Exchange (LSE) is planning to announce a preferred takeover by the end of the month, newspaper reports claim. The Sunday Telegraph sa…
Minister hits out at Yukos sale
Russia's renationalisation of its energy industry needs to be reversed, a senior government figure has warned. Economy minister German Gref told the K…
Ex-Boeing director gets jail term
An ex-chief financial officer at Boeing has received a four-month jail sentence and a fine of $250,000 (£131,961) for illegally hiring a top Air Force…
Malaysia lifts Islamic bank limit
Malaysia's central bank is to relax restrictions on foreign ownership to encourage Islamic banking. Banks in Malaysia will now be able to sell up to 4…
UK economy facing 'major risks'
The UK manufacturing sector will continue to face "serious challenges" over the next two years, the British Chamber of Commerce (BCC) has said. The gr…
UK house prices dip in November
UK house prices dipped slightly in November, the Office of the Deputy Prime Minister (ODPM) has said. The average house price fell marginally to £180,…
US firm pulls out of Iraq
A US company has pulled out of a major contract to rebuild Iraq's transport system after attacks on reconstruction efforts, Pentagon officials have sa…
Ukraine strikes Turkmen gas deal
Ukraine has agreed to pay 30% more for natural gas supplied by Turkmenistan. The deal was sealed three days after Turkmenistan cut off gas supplies in…
Deutsche Boerse boosts dividend
Deutsche Boerse, the German stock exchange that is trying to buy its London rival, has said it will boost its 2004 dividend payment by 27%. Analysts s…
EU-US seeking deal on air dispute
The EU and US have agreed to begin talks on ending subsidies given to aircraft makers, EU Trade Commissioner Peter Mandelson has announced. Both sides…
Putin backs state grab for Yukos
Russia's president has defended the purchase of Yukos' key production unit by state-owned oil firm Rosneft, saying it followed free market principles.…
US bank 'loses' customer details
The Bank of America has revealed it has lost computer tapes containing account details of more than one million customers who are US federal employees…
EU aiming to fuel development aid
European Union finance ministers meet on Thursday to discuss proposals, including a tax on jet fuel, to boost development aid for poorer nations. The …
News Corp eyes video games market
News Corp, the media company controlled by Australian billionaire Rupert Murdoch, is eyeing a move into the video games market. According to the Finan…
McDonald's boss Bell dies aged 44
Charlie Bell, the straight-talking former head of fast-food giant McDonald's, has died of cancer aged 44. Mr Bell was diagnosed with colorectal cancer…
Yukos sues four firms for $20bn
Russian oil firm Yukos has sued four companies for their role in last year's forced state auction of its key oil production unit Yuganskneftegas. Yuko…
Ebbers 'aware' of WorldCom fraud
Former WorldCom boss Bernie Ebbers was directly involved in the $11bn financial fraud at the firm, his closest associate has told a US court. Giving e…
Boeing unveils new 777 aircraft
US aircraft firm Boeing has unveiled its new long-distance 777 plane, as it tries to regain its position as the industry's leading manufacturer. The 7…
German business confidence slides
German business confidence fell in February knocking hopes of a speedy recovery in Europe's largest economy. Munich-based research institute Ifo said …
Telegraph newspapers axe 90 jobs
The Daily and Sunday Telegraph newspapers are axing 90 journalist jobs - 17% of their editorial staff. The Telegraph Group says the cuts are needed to…
Bank set to leave rates on hold
UK interest rates are set to remain on hold at 4.75% following the latest meeting of the Bank of England. The Bank's rate-setting committee has put up…
'Golden economic period' to end
Ten years of "golden" economic performance may come to an end in 2005 with growth slowing markedly, City consultancy Deloitte has warned. The UK econo…
Budget Aston takes on Porsche
British car maker Aston Martin has gone head-to-head with Porsche's 911 sports cars with the launch of its cheapest model yet. With a price tag under …
House prices show slight increase
Prices of homes in the UK rose a seasonally adjusted 0.5% in February, says the Nationwide building society. The figure means the annual rate of incre…
Home loan approvals rising again
The number of mortgages approved in the UK has risen for the first time since May last year, according to lending figures from the Bank of England. Ne…
House prices drop as sales slow
House prices fell further in November and property sale times lengthened as rate rises took their toll, the Royal Institute of Chartered Surveyors fou…
McDonald's to sponsor MTV show
McDonald's, the world's largest restaurant chain, is to sponsor a programme on music channel MTV as part of its latest youth market promotion. The sho…
Survey confirms property slowdown
Government figures have confirmed a widely reported slowdown of the UK's housing market in late 2004. House prices were 11.8% higher on the year in th…
Liberian economy starts to grow
The Liberian economy started to grow in 2004, but "sustained and deep reform efforts" are needed to ensure long term growth, the International Monetar…
Yukos accused of lying to court
Russian oil firm Yukos lied to a US court in an attempt to stop the Russian government selling off its key production unit, the court has heard. The u…
Ebbers denies WorldCom fraud
Former WorldCom chief Bernie Ebbers has denied claims that he knew accountants were doctoring the books at the firm. Speaking in court, Mr Ebbers reje…
US to rule on Yukos refuge call
Yukos has said a US bankruptcy court will decide whether to block Russia's impending auction of its main production arm on Thursday. The Russian oil f…
Disney settles disclosure charges
Walt Disney has settled charges from US federal regulators that it failed to disclose how family members of directors were employed by the company. Th…
Ryanair in $4bn Boeing plane deal
Budget airline Ryanair has placed an order for 70 Boeing 737-800 planes, in a deal valued at $4bn (£2.1bn) which should lead to 2,500 new Ryanair jobs…
Russia WTO talks 'make progress'
Talks on Russia's proposed membership of the World Trade Organisation (WTO) have been "making good progress" say those behind the negotiations. But th…
Fed chief warning on US deficit
Federal Reserve chairman Alan Greenspan has warned that allowing huge US budget deficits to continue could have "severe" consequences. Speaking to the…
SA unveils 'more for all' budget
The South African government has put tax cuts and increased social spending at the centre of its latest budget. Aiming to both stir economic growth an…
Brazil approves bankruptcy reform
A major reform of Brazil's bankruptcy laws has been approved by the country's Congress, in a move which it is hoped will cut the cost of borrowing. Th…
Banker loses sexism claim
A former executive at the London offices of Merrill Lynch has lost her £7.5m ($14.6m) sex discrimination case against the US investment bank. An emplo…
UK economy ends year with spurt
The UK economy grew by an estimated 3.1% in 2004 after accelerating in the last quarter of the year, says the Office for National Statistics (ONS). Th…
Bank holds interest rate at 4.75%
The Bank of England has left interest rates on hold again at 4.75%, in a widely-predicted move. Rates went up five times from November 2003 - as the b…
UK homes hit £3.3 trillion total
The value of the UK's housing stock reached the £3.3 trillion mark in 2004 - triple the value 10 years earlier, a report indicates. Research from Hali…
Building giant in asbestos payout
Australian building products group James Hardie has agreed to pay $1.1bn (£568m) to victims of asbestos-related diseases. The landmark deal could see …
House prices rebound says Halifax
UK house prices increased by 1.1% in December, the first monthly rise since September, the Halifax has said. The UK's biggest mortgage lender said pri…
Winn-Dixie files for bankruptcy
US supermarket group Winn-Dixie has filed for bankruptcy protection after succumbing to stiff competition in a market dominated by Wal-Mart. Winn-Dixi…
Rank 'set to sell off film unit'
Leisure group Rank could unveil plans to demerge its film services unit and sell its media business, reports claim. Rank, formerly famous for the Carr…
India's Maruti sees profits jump
India's biggest carmaker Maruti has reported a sharp increase in quarterly profit after a booming economy and low interest rates boosted demand. Net p…
Steady job growth continues in US
The US created fewer jobs than expected in December, but analysts said that the dip in hiring was not enough to derail the world's biggest economy. Ac…
Air passengers win new EU rights
Air passengers who are unable to board their flights because of overbooking, cancellations or flight delays can now demand greater compensation. New E…
Fannie Mae 'should restate books'
US mortgage company Fannie Mae should restate its earnings, a move that is likely to put a billion-dollar dent in its accounts, watchdogs have said. T…
Glazer makes new Man Utd approach
Malcolm Glazer has made a fresh approach to buy Manchester United, which could lead to a bid valuing the Premiership club at £800m. The US tycoon, who…
French boss to leave EADS
The French co-head of European defence and aerospace group EADS Philippe Camus is to leave his post. Mr Camus said in a statement that he has accepted…
Brussels raps mobile call charges
The European Commission has written to the mobile phone operators Vodafone and T-Mobile to challenge "the high rates" they charge for international ro…
S Korean consumers spending again
South Korea looks set to sustain its revival thanks to renewed private consumption, its central bank says. The country's economy has suffered from an …
ID theft surge hits US consumers
Almost a quarter of a million US consumers complained of being targeted for identity theft in 2004, official figures suggest. The Federal Trade Commis…
German growth goes into reverse
Germany's economy shrank 0.2% in the last three months of 2004, upsetting hopes of a sustained recovery. The figures confounded hopes of a 0.2% expans…
US consumer confidence up
Consumers' confidence in the state of the US economy is at its highest for five months and they are optimistic about 2005, an influential survey says.…
US seeks new $280bn smoker ruling
The US Justice Department is to try to overturn a court ruling that threw out its claim for $280bn (£149bn) in damages from tobacco firms. Earlier thi…
Sales 'fail to boost High Street'
The January sales have failed to help the UK High Street recover from a poor Christmas season, a survey has found. Stores received a boost from bargai…
BT offers equal access to rivals
BT has moved to pre-empt a possible break-up of its business by offering to cut wholesale broadband prices and open its network to rivals. The move co…
Water firm Suez in Argentina row
A conflict between the Argentine State and water firm Aguas Argentinas, controlled by France's Suez, is casting doubt on the firm's future. The firm, …
Mystery surrounds new Yukos owner
The fate of Russia's Yuganskneftegas - the oil firm sold to a little-known buyer on Sunday - is the subject of frantic speculation in Moscow. Baikal F…
US retail sales surge in December
US retail sales ended the year on a high note with solid gains in December, boosted by strong car sales. Seasonally adjusted sales rose 1.2% in the mo…
Firms pump billions into pensions
Employers have spent billions of pounds propping up their final salary pensions over the past year, research suggests. A survey of 280 schemes by Inco…
Lufthansa may sue over Bush visit
German airline Lufthansa may sue federal agencies for damages after the arrival of US president George W Bush disrupted flights. Lufthansa said that i…
Enron bosses in $168m payout
Eighteen former Enron directors have agreed a $168m (£89m) settlement deal in a shareholder lawsuit over the collapse of the energy firm. Leading plai…
Oil companies get Russian setback
International oil and mining companies have reacted cautiously to Russia's decision to bar foreign firms from natural resource tenders in 2005. US oil…
Gold falls on IMF sale concerns
The price of gold has fallen after the International Monetary Fund (IMF) said it will look at ways of using its gold reserves to provide debt relief. …
No seasonal lift for house market
A swathe of figures have provided further evidence of a slowdown in the UK property market. The Council of Mortgage Lenders (CML), British Bankers Ass…
BMW to recall faulty diesel cars
BMW is to recall all cars equipped with a faulty diesel fuel-injection pump supplied by parts maker Robert Bosch. The faulty part does not represent a…
Yukos unit buyer faces loan claim
The owners of embattled Russian oil giant Yukos are to ask the buyer of its former production unit to pay back a $900m (£479m) loan. State-owned Rosne…
Ford gains from finance not cars
Ford, the US car company, reported higher fourth quarter and full-year profits on Thursday boosted by a buoyant period for its car loans unit. Net inc…
Lloyd's of London head chides FSA
The head of Lloyd's of London, the insurance market, has criticised Britain's financial watchdog, the Financial Services Authority (FSA). In a speech …
Yukos drops banks from court bid
Russian oil company Yukos has dropped the threat of legal action against five banks it had accused of involvement in the sale of its key Yugansk unit.…
BMW reveals new models pipeline
BMW is preparing to enter the market for car-style people carriers, the firm's chief has told BBC News. Speaking at a BMW event ahead of the Geneva mo…
UK interest rates held at 4.75%
The Bank of England has left interest rates on hold again at 4.75%, in a widely-predicted move. Rates went up five times from November 2003 - as the b…
Iranian MPs threaten mobile deal
Turkey's biggest private mobile firm could bail out of a $3bn ($1.6bn) deal to build a network in Iran after MPs there slashed its stake in the projec…
Executive trio leave Aer Lingus
Three senior executives of Ireland's state-owned airline, Aer Lingus, are set to leave early on 28 January after accusations of a conflict of interest…
Venezuela identifies 'idle' farms
Venezuelan authorities have identified more than 500 farms, including 56 large estates, as idle as it continues with its controversial land reform pol…
FBI agent colludes with analyst
A former FBI agent and an internet stock picker have been found guilty of using confidential US government information to manipulate stock prices. A N…
GSK aims to stop Aids profiteers
One of the world's largest manufacturers of HIV/Aids drugs has launched an initiative to combat the smuggling of cheaper pills - supplied to poorer Af…
Christmas sales worst since 1981
UK retail sales fell in December, failing to meet expectations and making it by some counts the worst Christmas since 1981. Retail sales dropped by 1%…
Card fraudsters 'targeting web'
New safeguards on credit and debit card payments in shops has led fraudsters to focus on internet and phone payments, an anti-fraud agency has said. A…
Trial begins of Spain's top banker
The trial of Emilio Botin, the chairman of Spain's most powerful bank, Santander Central Hispano, has started in Madrid. Mr Botin is accused of misusi…
German economy rebounds
Germany's economy, the biggest among the 12 countries sharing the euro, grew at its fastest rate in four years during 2004, driven by strong exports. …
M&S cuts prices by average of 24%
Marks & Spencer has cut prices in London and the regions by an average of 24%, according to research from a City investment bank. Dresdner Kleinwort W…
Tsunami 'to hit Sri Lanka banks'
Sri Lanka's banks face hard times following December's tsunami disaster, officials have warned. The Sri Lanka Banks Association said the waves which k…
Small firms 'hit by rising costs'
Rising fuel and materials costs are hitting confidence among the UK's small manufacturers despite a rise in output, business lobby group the CBI says.…
S Korean credit card firm rescued
South Korea's largest credit card firm has averted liquidation following a one trillion won ($960m; £499m) bail-out. LG Card had been threatened with …
S Korean lender faces liquidation
Creditors of South Korea's top credit card firm have said they will put the company into liquidation if its ex-parent firm fails to back a bail-out. L…
$1m payoff for former Shell boss
Shell is to pay $1m (£522,000) to the ex-finance chief who stepped down from her post in April 2004 after the firm over-stated its reserves. Judy Boyn…
US bank boss hails 'genius' Smith
US Federal Reserve chairman Alan Greenspan has given a speech at a Scottish church in honour of the pioneering economist, Adam Smith. He delivered the…
Mixed signals from French economy
The French economy picked up speed at the end of 2004, official figures show - but still looks set to have fallen short of the government's hopes. Acc…
UK firm faces Venezuelan land row
Venezuelan authorities have said they will seize land owned by a British company as part of President Chavez's agrarian reform programme. Officials in…
Yukos heading back to US courts
Russian oil and gas company Yukos is due in a US court on Thursday as it continues to fight for its survival. The firm is in the process of being brok…
Ethiopia's crop production up 24%
Ethiopia produced 14.27 million tonnes of crops in 2004, 24% higher than in 2003 and 21% more than the average of the past five years, a report says. …
Yukos bankruptcy 'not US matter'
Russian authorities do not have to abide by any US court decisions taken with regard to troubled oil giant Yukos, a Houston court has been told. Legal…
US to probe airline travel chaos
The US government is to investigate two airlines- US Airways and Delta Air Lines' Comair subsidiary - after travel chaos over the Christmas weekend. S…
Saab to build Cadillacs in Sweden
General Motors, the world's largest car maker, has confirmed that it will build a new medium-sized Cadillac BLS at its loss-making Saab factory in Swe…
Ad sales boost Time Warner profit
Quarterly profits at US media giant TimeWarner jumped 76% to $1.13bn (£600m) for the three months to December, from $639m year-earlier. The firm, whic…
Parmalat boasts doubled profits
Parmalat, the Italian food group at the centre of one of Europe's most painful corporate scandals, has reported a doubling in profit. Its pre-tax earn…
Yukos loses US bankruptcy battle
A judge has dismissed an attempt by Russian oil giant Yukos to gain bankruptcy protection in the US. Yukos filed for Chapter 11 protection in Houston …
Senior Fannie Mae bosses resign
The two most senior executives at US mortgage giant Fannie Mae have resigned after accounting irregularities were uncovered at the company. Chief exec…
Warning over US pensions deficit
Taxpayers may have to bail out the US agency that protects workers' pension funds, leading economists have warned. With the Pension Benefit Guaranty C…
Soros group warns of Kazakh close
The Open Society Institute (OSI), financed by billionaire George Soros, has accused Kazakhstan officials of trying to close down its local office. A d…
Golden rule 'intact' says ex-aide
Chancellor Gordon Brown will meet his golden economic rule "with a margin to spare", according to his former chief economic adviser. Formerly one of M…
Call centre users 'lose patience'
Customers trying to get through to call centres are getting impatient and quicker to hang up, a survey suggests. Once past the welcome message, caller…
Safety alert as GM recalls cars
The world's biggest carmaker General Motors (GM) is recalling nearly 200,000 vehicles in the US on safety grounds, according to federal regulators. Th…