76373 results returned for search: "" category "Business"
Opinion is divided as to when the recession will really start to bite in Bermuda. Some effects are already being felt. Construction projects have been shelved or scaled back, resulting in falling employment in that sector. Most of these early job los...
DATE: Dec 13, 2008
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NEW YORK (Reuters) - Investors scrambled to assess potential losses from an alleged $50 billion fraud by Bernard Madoff, a day after the arrest of the prominent Wall Street trader.
Prosecutors and regulators accused the 70-year-old former chairman of...
DATE: Dec 13, 2008
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LONDON (AP) — Britain's pound fell to a new record low against the euro yesterday for the second consecutive day as fears grew about the strength of the British economy.
The British currency dropped to 1.1250 euros — the weakest it has ever been agai...
DATE: Dec 12, 2008
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NEW YORK (Reuters) - Costco Wholesale Corp's quarterly profit rose slightly as strong results from its gasoline stations helped to offset weak consumer demand for all but the most essential household items.
Warehouse clubs like Costco had been seen a...
DATE: Dec 12, 2008
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OTTAWA (Reuters) - The Supreme Court ruled yesterday that the government collected employment insurance premiums unlawfully for three years, but it declined to order the government to return surplus funds to contributors.
The high court ruled in a ca...
DATE: Dec 12, 2008
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NEW YORK (Bloomberg) — Ciena Corp., the maker of network equipment for customers such as AT&T Inc., posted a $25.4 million fourth-quarter loss after telephone companies cut back on orders because of the economic recession.
The net loss was 28 cents a...
DATE: Dec 12, 2008
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BEIJING (AP) — China's inflation fell to its lowest level in nearly two years as sharp increases in food and energy costs eased, giving Beijing more room to spur growth through spending without igniting price rises.
Consumer prices rose by 2.4 percen...
DATE: Dec 12, 2008
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Bermuda-based Max Capital Group Ltd. has seen its ratings outlook upgraded to positive from stable by AM Best, partly because of its efforts to reduce the level of risk in its investment portfolio.
Max announced earlier this month that it intended to...
DATE: Dec 12, 2008
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Bermuda insurance groups face a "real risk" of US tax law proposals that would impact them negatively becoming law by as soon as next year.
That is the view of Barclays Capital analysts Jay Gelb and Charles Marr, expressed in a note to investors yest...
DATE: Dec 12, 2008
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AUTHOR:
Jonathan Kent
Finance Minister Paula Cox moved to reassure the business community in the wake of XL Capital Ltd. reportedly seeking a buyer and three Bermuda-based companies - Tyco International, Foster Wheeler and Weatherford - announcing plans to move to Switzer...
DATE: Dec 12, 2008
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