Business

South Carolina congressman proposes bill to ban US currency in state and use gold and silver coins instead

Thu, 18 Feb 2010 14:53:00 +0000

South Carolina State Rep. Mike Pitts has introduced a bill that would ban the recognition or use of US currency in South Carolina. The lawmaker says if the Federal Government continues to spend at the current rate, there’s a chance the U.S. economy could collapse and printed money would become worthless.

EU finance ministers pick Portugal's Constancio as ECB vice president

Wed, 17 Feb 2010 19:22:00 +0000

European Union finance ministers on Tuesday formally approved Portugal's Vitor Constancio as the European Central Bank's next vice-president.

Russia tells Greece gas pipeline can help finances

Wed, 17 Feb 2010 19:17:00 +0000

MOSCOW — Russian Prime Minister Vladimir Putin on Tuesday assured Greece that a major gas pipeline project will help it recover from its debt crisis by boosting state revenues, but has not publicly suggested any possible aid from Moscow.

China charges tycoon with financial crimes

Tue, 16 Feb 2010 00:25:00 +0000

BEIJING — A Chinese court has charged the founder of home appliance giant GOME -- once the country's richest man -- with bribery, insider trading and illegal business dealings, state media reported.

Finance Minister Says Japan Government Must Ask Voters to Approve Tax Change

Tue, 16 Feb 2010 00:18:00 +0000

Japanese Finance Minister Naoto Kan indicated the government would call elections before making any major changes to the nation’s tax code, including raising the 5 percent consumption tax.

Singapore Opens 1st Casino in Bid to Become Tourist Hub

Mon, 15 Feb 2010 18:33:00 +0000

Singapore has opened its first casino, part of a campaign by the city-state to transform itself into a tourist hub and reduce its reliance on manufacturing.

Finland clears way for Baltic gas pipeline

Sat, 13 Feb 2010 17:48:00 +0000

HELSINKI — A Finnish environmental agency on Friday approved plans to build a natural gas pipeline in the Baltic Sea — the final permit needed for the underwater energy link between Russia and Germany.

South Africa Keeps Stimulus, Plans Industrial Policy

Sat, 13 Feb 2010 17:20:00 +0000

South African President Jacob Zuma said his government will maintain spending measures and introduce new industrial policies to foster growth and create jobs as the economy exits its first recession in 17 years.

Google Poaches Social Search Service Aardvark

Fri, 12 Feb 2010 22:55:00 +0000

The coolest search engine you’ve never used got snapped up by Google Thursday for a reported $50 million. Aardvark, a company that lets you use IM, Twitter and e-mail to ask full-text questions and then get answers from people in or close to your social network, confirmed it signed a deal with Google. TechCrunch, which first reported the news, put the figure at $50 million, but Wired.com could not confirm the purchase price.

Bernard Madoff's brother, sons subject of criminal tax-fraud cases: WSJ

Fri, 12 Feb 2010 22:15:00 +0000

The brother and sons of imprisoned swindler Bernard Madoff are the subject of criminal tax-fraud cases by federal prosecutors in Manhattan, the Wall Street Journal reported, citing people familiar with the matter.

Motorola Outlines Plan to Split Into Two Companies

Fri, 12 Feb 2010 22:02:00 +0000

Motorola confirmed on Thursday that it planned to reorganize into two independent companies by the first quarter of 2011, with its mobile handset unit and its television set-top box division being combined and spun off as a separate publicly traded company.

Western Union to Pay $94 Million to Settle Dispute

Fri, 12 Feb 2010 21:57:00 +0000

Western Union has agreed to a $94 million settlement Thursday in disputes with Arizona prosecutors that center on the state's effort to reduce the flow of immigrant and drug smuggling money through wire transfers.

Nigeria's New Leader Woos Oil Companies

Fri, 12 Feb 2010 19:17:00 +0000

Nigeria's new acting president, Goodluck Jonathan, is attempting to breathe life into the nation's ailing energy sector just two days after assuming the duties of President Umaru Yar'Adua, who has been out of the country since November with health problems.

Singapore's First Casino to Open February 14

Fri, 12 Feb 2010 18:13:00 +0000

SINGAPORE — Singapore's first casino will start operating on Sunday, in time for the Lunar New Year, the operator said Thursday.

North Korea to woo foreign investors: report

Fri, 12 Feb 2010 17:55:00 +0000

SEOUL — North Korea plans to open up 12 special zones for foreign investors in an attempt to shore up its crumbling economy, a South Korean newspaper reported Thursday.

Greece needs psychological, political support -PM

Thu, 11 Feb 2010 23:53:00 +0000

Greece needs psychological and political support from Europe and does not envisage calling on the International Monetary Fund for help, Greek Prime Minister George Papandreou was quoted as saying on Thursday.

Putin says Baltic Sea gas pipeline will be 'safe'

Thu, 11 Feb 2010 23:53:00 +0000

HELSINKI — Russian Prime Minister Vladimir Putin on Wednesday downplayed environmental concerns about a planned gas pipeline in the Baltic Sea, saying it would be a "safe and reliable" energy link for Europe.

Honda expands recall to over 900000 vehicles worldwide

Wed, 10 Feb 2010 23:50:00 +0000

Honda Motor Co. said Wednesday in Asia that it's further expanding a massive recall of 2001 and 2002 models to include more than 900,000 vehicles worldwide, due to lingering concerns about malfunctioning airbags.

President Chavez announces electricity emergency in Venezuela

Wed, 10 Feb 2010 17:40:00 +0000

Venezuelan President Hugo Chavez has declared a state of emergency for the South American nation's electricity supply and announced a series of billing sanctions and rewards based on a customer's energy use.

Black Zimbabweans to take control of white-owned companies

Wed, 10 Feb 2010 17:24:00 +0000

White-owned companies in Zimbabwe are to be forced to hand majority control to black businessmen in a move that could lead to chaos rivalling the seizure of the country's commercial farms.