Business
Latest stories
Moody's to Review Cyprus for Possible Downgrade

Rating firm Moody's said Friday it would review Cyprus for a possible downgrade, citing dragging bailout talks with international lenders on an aid package.

Just five weeks after its last ratings cut, Moody's said the review on Cyprus's B3 government bond rating was due to rising liquidity risks for the eurozone country, closely linked to debt-crippled Greece.

W140 Full Story
To Boost Reform, U.S. Lifts Ban on Most Myanmar Imports

Moving to encourage reform in Myanmar ahead of a landmark trip by President Barack Obama, the United States has scrapped a nearly decade-old ban on most imports from the long-isolated nation.

The world's largest economy will open up to products from the country formerly known as Burma with the exception of gems, a sector seen as a major driver of corruption and violence.

W140 Full Story
U.S.: Jordan's Economic Reforms a 'Necessary Pain'

Tough economic reforms biting hard in Jordan, which have pushed up fuel prices and triggered protests, are "a necessary pain" to meet the nation's challenges, a top U.S. official said Friday.

U.S. Secretary of State Hillary Clinton, who is traveling in Asia, spoke this week with Jordan's King Abdullah and "commended the Jordanian government's efforts to address their economic challenges, and the king's commitment to reform," State Department spokeswoman Victoria Nuland said.

W140 Full Story
U.S. House Passes Bill Normalizing Russian Trade

House Democrats and Republicans joined forces Friday in voting overwhelmingly to end Soviet-era trade restrictions while approving a measure that punishes Russian officials involved in human rights violations.

The vote to establish permanent normal trade relations with Russia has been a top priority of American businesses and farmers concerned that they are being left behind as Europe and China move into Russia's market of 140 million consumers.

W140 Full Story
Greek PM to Seek Investors in Qatar, China, Russia

Greek Prime Minister Antonis Samaras will hold an investment trip to Qatar later this month and similar trips to China and Russia are planned at a later date, the state agency said on Friday.

"Samaras will travel to Qatar on November 27 and (his office) is planning journeys to China and Russia with the aim of attracting investors," the ANA agency said.

W140 Full Story
Merkel, Putin Meet amid Tension over Rights Issues

Putin, Merkel Spar over Pussy Riot in Russia Talks

German Chancellor Angela Merkel on Friday clashed with Russian President Vladimir Putin over the jailing of feminist rock band Pussy Riot in a meeting aimed at soothing tensions over human rights.

W140 Full Story
Markets Shaken by U.S. Budget Fears, Mideast Clashes

Markets remained under pressure Friday ahead of the start of budget discussions between President Barack Obama and congressional leaders and as investors fretted over a military escalation in Gaza.

Japanese stocks, however, enjoyed solid gains on hopes that elections next month may lead to more stimulus measures being enacted, in the latest attempt to get the stuttering economy moving.

W140 Full Story
Greek PM to Seek Investors in Qatar, China, Russia

Greek Prime Minister Antonis Samaras will hold an investment trip to Qatar later this month and similar trips to China and Russia are planned at a later date, the state agency said on Friday.

"Samaras will travel to Qatar on November 27 and (his office) is planning journeys to China and Russia with the aim of attracting investors," the ANA agency said.

W140 Full Story
Britain Could Lose £66 Bn on Bank Bailouts

Britain could lose the £66 billion ($105 billion, 82 billion euros) it spent on rescuing Royal Bank of Scotland and Lloyds Banking Group and made key errors over failed lender Northern Rock, lawmakers said on Friday.

The Public Accounts Committee -- a panel of British lawmakers -- issued the gloomy verdict in a eagerly-awaited report into the government's handling of Northern Rock, which has since been taken over by Richard Branson's Virgin Group.

W140 Full Story
IMF Head Says Eurogroup Deal Key to Saving Greece

A crucial meeting of Eurozone finance ministers next week will be key to getting Greece "back on its feet", IMF chief Christine Lagarde said Friday, as she cut short her visit to Asia to attend the talks.

The International Monetary Fund managing director told a news conference in Manila that the Eurogroup's focus was getting the debt-wracked country on a "sustainable" path as soon as possible.

W140 Full Story