(Reuters) – Britain’s financial regulator fined Lloyds Banking Group 4.3 million pounds ($6.7 million) on Monday for not paying compensation quickly enough to customers wrongly sold insurance on loans and mortgages. The Financial Services Authority said that from May 2011 to March 2012, Lloyds did not pay compensation to 140,000 […]
by Chantal Britt, swissinfo.ch Feb 19, 2013 – 10:59 Outgoing Novartis chairman Daniel Vasella has chosen to forego a CHF72 million ($78 million) payout to prevent him from working for […]
Gas prices have risen for 32 days straight, according to AAA. That means that the average price for a gallon of regular unleaded gasoline has increased more than 13% over that period to $3.73. It’s hitting wallets right in the middle of winter, when people are already looking at large […]
The Qur’an’s teachings around business chime with the objectives of the worldwide social enterprise movement Though wealth creation is the primary goal taught by top businessmen, social impact is considered to be a more fulfilling outcome for others. Money is not timeless, but what you do with that money can […]
As a result of tax loopholes and deductions, the social media giant Facebook paid no income taxes for the fiscal year 2012, despite reaping $1.1 billion in US corporate profits, […]
Uwe E. Reinhardt is an economics professor at Princeton. He has some financial interests in the health care field. It has become customary to see our health care sector as a burden on society. In some ways it is. We have developed a complicated system of financing the sector – […]
The eurozone suffered its third consecutive quarter of decline at the end of 2012 as exports from leading economies Germany and France sank, deepening a regional recession that has driven unemployment to record highs. Gross domestic product in the 17-nation euro area fell by 0.6% in the fourth quarter, leaving […]
WASHINGTON — President Obama, seeking to put the prosperity and promise of the middle class at the heart of his second-term agenda, called on Congress on Tuesday night to raise the federal minimum wage to $9 an hour, saying that would lift millions out of poverty and energize the economy. […]
IAN TIMBERLAKE ARABNEWS Wednesday 13 February 2013 Billions of dollars in oil revenue for the crisis-hit economies of Sudan and South Sudan are being held hostage by Khartoum’s concerns over […]
JEDDAH: P.K. ABDUL GHAFOUR ARABNEWS Tuesday 12 February 2013 The Saline Water Conversion Corporation yesterday announced its plan to establish the world’s largest desalination plant in Rabigh, northwest of Jeddah, […]
By Naomi Wolf The Daily Star, Lebanon Story Summary The hit of this year’s Sundance Film Festival was a low-key affair called “Inequality for All,” in which Robert Reich, a labor secretary in the Clinton administration, explains how rising income inequality and the demise of the middle class is causing […]
Swiss chocolate makers were left with a bittersweet taste in their mouths last year as a strong Swiss franc melted away the appetite for their products, the top industry body […]
The United States economy most likely expanded slightly in the fourth quarter, instead of contracting, according to trade data released Friday that suggested a surprise drop in gross domestic product reported last week may have been overstated. The country’s trade deficit narrowed to $38.5 billion in December, its lowest reading […]
HONG KONG — Hewlett-Packard, one of the world’s largest makers of computers and other electronics, is imposing new limits on the employment of students and temporary agency workers at factories across China. The move, following recent efforts by Apple to increase scrutiny of student workers, reflects a significant shift in […]
Robots park your car for Dh5 an hour at world’s biggest automated parking facility which has made it to the Guinness World Records By Jay B. Hilotin, Chief Reporter, Gulf […]
(Reuters) – The number of Americans filing new claims for jobless benefits fell last week and a trend reading hit a near five-year low, a sign the grinding recovery in the labor market remains on track. Other data on Thursday showed a sharp drop in productivity in the fourth quarter […]
By Jeremy Grant in Singapore When Tina Ward, a Singaporean mother of two, and her British husband realised they were outgrowing their cramped, government-built apartment in Singapore, they took a […]
Swiss foreign trade registered a new record surplus of SFr24.4 billion ($26.8 billion) for 2012 despite the gloomy global economy and strong franc, relying largely just on the watchmaking, chemical […]
The Media Line Staff Amman, Jordan (Adam Nicky The Media Lin – Street noises mix with a call to prayer coming from the King Hussein Mosque in downtown Amman, the city’s commercial center, while on a nearby street corner, Issam, a Syrian businessman, calmly answers a steady flow of phone […]
JACKSONVILLE, Fla. — Since Patrick J. Geraghty arrived here a year and a half ago to lead the state’s largest health insurer, Florida Blue, he has expanded its operations in Medicare and Medicaid, entered arrangements with hospitals and doctors, bought a medical group, and dabbled with a new private sector […]