Industrial turnover was strong in December according to the latest figures from the Statistical Service. The industrial turnover index reached 165.7 (base 2000=100), recording an increase of 8.7% compared with December 2007. Industrial production in the same period rose by only 1.9%, however. For the period January-December 2008 turnover rose by 12.8% compared to the
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Global real estate agent DTZ Holdings Plc warned of a full-year pretax loss as conditions in the property market continued to deteriorate, and it played down prospects of any improvement before 2011. The pretax result in the year to 30 April would be "significantly lower than expected" and it was speeding up a programme of
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European Union leaders will urge the G20 leading and emerging economies to double the size of the International Monetary Fund's arsenal for fighting global recession to $500 billion, a draft declaration showed on Friday. The draft also held out the prospect of the EU offering aid to eastern European states hit hard by the global
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The U.S. dollar edged higher on Friday but still headed for its biggest weekly fall in 24 years on investor fears that it will lose its status as the world's reserve currency, while oil prices ceded ground after a recent rally. U.S. Treasuries were steady in Asian trade after yields on Wednesday recorded their biggest
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Online travel agencies, eager to spur spring bookings in the recession, are locked in a price battle that has some of them cutting fees and reimbursing customers if the price of their trip falls after they book. Priceline.com on Thursday offered a promotional price guarantee on airline tickets and vacations. The promotion follows a similar
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Three of the world's biggest banks on Thursday embarked on fresh steps to boost their balance sheets, as governments moved to crack down on excesses that may have fueled the global credit crisis. The moves by HSBC Holdings Plc, Citigroup Inc and UBS AG and are the latest corporate efforts to repair or regain their
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Two visiting space shuttle astronauts floated outside the International Space Station on Thursday to hook up a final set of solar panel wings to bring the orbital outpost to full power. Spacewalkers Steven Swanson and Richard Arnold spent six hours outside the station during the first of three spacewalks planned for the flight. "Have a
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By James B. Kelleher As they struggle to close ballooning budget deficits amid the worst financial crisis since the Great Depression, many U.S. state and local governments will be tempted to follow the example of Chicago. The third-largest U.S. city has raised billions of dollars in recent years turning public assets over to private businesses
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The European Union resisted pressure to pump more cash into its recession-hit economies just as Washington added $5 billion more to its soaring rescue bill, throwing a lifeline to stricken auto parts makers. EU leaders are expected, however, to agree on Friday to contribute at least $75 billion to the International Monetary Fund to boost
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The U.S. House of Representatives swiftly passed a bill on Thursday to recoup controversial bonuses paid to American International Group Inc <AIG.N> as Treasury Secretary Timothy Geithner tried to calm the furor by taking responsibility. In the face of public outrage at the fact that AIG paid $165 million in bonuses after receiving $180 billion
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