Category
Companies
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…
US Airways staff agree to pay cut
A union representing 5,200 flight attendants at bankrupt US Airways have agreed to a new contract that cuts pay by nearly 10%. The deal will help the …
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…
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 …
Iraq to invite phone licence bids
Iraq is to invite bids for two telephone licences, saying it wants to significantly boost nationwide coverage over the next decade. Bids have been inv…
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…
Train strike grips Buenos Aires
A strike on the Buenos Aires underground has caused traffic chaos and large queues at bus stops in the Argentine capital. Tube workers walked out last…
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.…
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…
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…
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 …
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…
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…
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…
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…
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 …
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…
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…
BA to suspend two Saudi services
British Airways is to halt its flights from London Heathrow to Jeddah and Riyadh in Saudi Arabia from 27 March. The airline said the decision was a co…
Saudi investor picks up the Savoy
London's famous Savoy hotel has been sold to a group combining Saudi billionaire investor Prince Alwaleed bin Talal and a unit of HBOS bank. Financial…
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…
Diageo to buy US wine firm
Diageo, the world's biggest spirits company, has agreed to buy Californian wine company Chalone for $260m (£134m) in an all-cash deal. Although Diageo…
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…
Glaxo aims high after profit fall
GlaxoSmithKline saw its profits fall 9% last year to £6.2bn ($11.5bn), but Europe's biggest drugmaker says a recovery during 2005 is on the way. Cheap…
Absa and Barclays talks continue
South Africa biggest retail bank Absa has said it is still in talks with UK bank Barclays over the sale of majority stake in the group. In November, A…
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, …
Ad firm WPP's profits surge 15%
UK advertising giant WPP has posted larger-than-expected annual profits and predicted that it will outperform the market in 2005. Pre-tax profits rose…
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…
EU ministers to mull jet fuel tax
European Union finance ministers are meeting on Thursday in Brussels, where they are to discuss a controversial jet fuel tax. A levy on jet fuel has b…
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…
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…
Metlife buys up Citigroup insurer
US banking giant Citigroup has sold its Travelers Life & Annuity insurance arm to Metlife for $11.5bn (£6.1bn). The sale is a further move by Citigrou…
US firm 'bids for Lacroix label'
A US firm has said it is in final negotiations with luxury goods group LVMH to buy the loss-making Christian Lacroix haute-couture house. Paris-based …
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…
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…
Gazprom 'in $36m back-tax claim'
The nuclear unit of Russian energy giant Gazprom is reportedly facing a 1bn rouble ($35.7m; £19.1m) back-tax claim for the 2001-2003 period. Vedomosti…
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…
Kraft cuts snack ads for children
Kraft plans to cut back on advertising of products like Oreo cookies and sugary Kool-Aid drinks as part of an effort to promote healthy eating. The la…
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…
Lufthansa flies back to profit
German airline Lufthansa has returned to profit in 2004 after posting huge losses in 2003. In a preliminary report, the airline announced net profits …
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 …
J&J agrees $25bn Guidant deal
Pharmaceutical giant Johnson & Johnson has agreed to buy medical technology firm Guidant for $25.4bn (£13bn). Guidant is a key producer of equipment t…
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…
Air Jamaica back in state control
The Jamaican government is regaining control of Air Jamaica in an bid to help the ailing company out of its financial difficulties. The firm has faile…
Deutsche Telekom sees mobile gain
German telecoms firm Deutsche Telekom saw strong fourth quarter profits on the back of upbeat US mobile earnings and better-than-expected asset sales.…
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…
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 …
Low-cost airlines hit Eurotunnel
Channel Tunnel operator Eurotunnel has seen sales fall in the face of the upsurge in European low-cost airlines. The firm said sales were down 4% in 2…
Qatar and Shell in $6bn gas deal
Shell has signed a $6bn (£3.12bn) deal with the Middle Eastern sheikhdom of Qatar to supply liquid natural gas (LNG) to North America and Europe. The …
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…
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…