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News

  • Dollar, stocks rebound on strong US data

    The dollar and global equity markets rebounded yesterday after three days of declines, spurred by strong US retail sales and declining jobless claims that signalled the US economy could weather weak oil prices and a likely interest rate hike next...

  • Italy pursues alleged NY mobster for extortion

    US police, acting at the request of an Italian court, have arrested a New York City man authorities identify as a member of the Gambino mob family for extortion, Italian officials said yesterday. A court in the southern Italian city of Potenza...

  • MSE Share Index sinks to 22-month low

    MSE Share Index sinks to 22-month low

    During this morning’s trading session, the MSE Share Index slipped 0.9% to a new 22-month low of 3,231.982 points as most of the active equities closed in negative territory. HSBC Bank Malta plc shed 2.6% to drop back to its 2014 low of €1.90...

  • BP to spend $1 bln to restructure, cut jobs

    BP to spend $1 bln to restructure, cut jobs

    BP will cut hundreds of jobs across its global oil and gas business by the end of next year in a $1 billion restructuring programme that was announced on Wednesday following steep falls in oil prices. The bulk of the costs will go towards staff...

  • France bids to show reform drive with deregulation Bill

    France’s government proposed a pro-growth reform Bill yesterday that is crucial for avoiding EU sanctions but risks being watered down by left-wing lawmakers angry with President François Hollande’s deregulation drive. The Bill – which polls show...

  • Shares fall on oil's five-year low as dollar slides

    Oil prices slumped to five-year lows yesterday and US and European equity markets fell as investors worried about the Greek and Chinese economies withdrew from riskier positions and bought Japanese yen, which rose against the US dollar. Brent...

  • Leaks reveal Disney, Koch Industries tax deals

    Walt Disney Co., commodities group Koch Industries and others agreed deals in Luxembourg that could have delivered huge tax savings, a group of investigative journalists has reported, heightening an international debate on corporate tax avoidance.

  • Educational clinic for investment firms on CRD IV Package

    FinanceMalta (FM), in collabor-ation with the Malta Financial Services Authority (MFSA), is organising an educational clinic for professionals working in investments on the implementation of the Fourth Capital Requirements Directive and the...

  • Maltapost reports profit up by 37.5%

    Maltapost’s profit before tax increased by 37.5 per cent to €2.74 million, the company announced yesterday, at it published its latest financial statements for the year ending September 30. A statement said the company had performed soundly during...

  • Shipping movements

    The following ships are expected in Malta: The Saint Nikolas from Valencia to Livorno (Carmelo Caruana Co Ltd) and the MV Eurocargo Malta from Genoa to Genoa (Sullivan Maritime) tomorrow. The HH East (ex-Coneast) from Misurata to Annaba, the...

  • Air passengers rights explained

    A recent ruling dealing with air traveller’s rights has been delivered by the Court of Justice of the European Union just in time before the fast approaching holiday season. The eventuality of mobile boarding stairs colliding with an aircraft...

  • France keeps EU ‘Robin Hood tax’ plan despite deadline miss

    France keeps EU ‘Robin Hood tax’ plan despite deadline miss

    France sought yesterday to keep alive a disputed financial transactions tax after 18 months of talks failed to produce a deal that would force banks blamed for causing the financial crisis to help pay for the clean-up. Having missed a self-imposed...

  • Less inequality would boost economic growth

    Moves by national governments to reduce inequality between their rich and poor citizens would help to lift economic growth, the Organisation for Economic Co-operation and Development said yesterday. The Paris-based think tank wrote in a report...

  • Shares fall on oil drop and Greek unrest

    Investors sold equities worldwide yesterday after China's market posted its worst day in five years and oil prices fell to levels not seen since 2009. US and European shares were down for a second day in a row, in part due to concern that the...

  • Troubled Tesco warns on profit again

    Grocer Tesco has cut profit expectations for the fourth time this year, blaming the cost of trying to recover from an accounting scandal and a slide in market share. Shares in the world’s third-biggest retailer plunged as much as 17 per cent to a...

  • HSBC slips back to 2014 low

    HSBC slips back to 2014 low

    In contrast to the marginal increases in the share price of HSBC during the past two weeks, new sell orders forced the bank’s equity down to €1.90 although a final trade at €1.93 ensured that the shares ended the session 0.8 per cent higher.

  • A big step forward for small Australian banks

    A big step forward for small Australian banks

    Australia’s smaller banks stand to benefit from a government-backed financial sector review that has recommended the nation’s big lenders set aside more capital for their main business of mortgages, in a move towards a level playing field. The...

  • Japan economy shrinks more than expected

    Japan’s economy shrank more than initially reported in the third quarter on declines in business investment, data showed yesterday, surprising markets and backing premier Shinzo Abe’s recent decision to delay a second sales tax hike. The hit from...

  • Money market report for the week ended December 5

    On Thursday, December 4, the Governing Council of the European Central Bank (ECB) decided that the interest rate on the main refinancing operations (MRO) and the interest rates on the marginal lending facility and the deposit facility will remain...

  • China faces pressure as imports shrink unexpectedly, exports slow

    China faces pressure as imports shrink unexpectedly, exports slow

    China’s imports shrank unexpectedly in November while export growth slowed, fuelling concerns the world’s second-largest economy could be facing a sharper slowdown and adding pressure on policymakers to ramp up stimulus measures. Exports rose 4.7...

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