Business
Latest stories
Australian Bank Customers Score Win in Fees Case

Australian bank customers scored a major win in a class action against top lenders Thursday, with the nation's highest court ruling they could challenge a wide range of fees as excessive.

The High Court of Australia found in favor of the 38,000 customers of the Australia and New Zealand Banking Group (ANZ) fighting back against the fees, overturning an earlier ruling limiting the case to credit card charges.

W140 Full Story
U.S. Boosts Humanitarian Aid to Syria to over $100 Million

The United States Wednesday unveiled $21 million in new aid help those caught up in the conflict in Syria, boosting its humanitarian funding to over $100 million.

USAID head Rajiv Shah announced during a visit to Jordan that the new funds would be made available to the U.N. World Food Program to help feed Syrians both inside and outside the country.

W140 Full Story
EU Leaders Take Reassuring Tone Ahead Of Crucial ECB Meet

European leaders piled up reassuring declarations on the Eurozone on Wednesday, the eve of a keenly-awaited meeting of the European Central Bank's governing council.

European President Herman Van Rompuy slapped away speculation that the debt crisis would bring down the euro, while Germany's finance minister forecast that the single currency would be more stable in a year's time and that heavily indebted Greece would remain in the Eurozone.

W140 Full Story
Netherlands to Give No More Aid to Greece

The Netherlands will not contribute any further aid to debt-ridden Greece, but Athens could be given more time to get its finances on an even keel, Dutch Prime Minister Mark Rutte said Tuesday.

"Two major rescue packages have been agreed on for Greece," said Rutte, who represented his People's Party for Freedom and Democracy (VVD) during a live televised debate, eight days ahead of Dutch elections.

W140 Full Story
Bank of England Set To Refrain From More QE Stimulus

The Bank of England is expected on Thursday to refrain from pumping more cash into the British economy, despite news that it remained stuck in recession during the second quarter, economists said.

The central bank's Monetary Policy Committee (MPC), which begins a two-day meeting on Wednesday, is also forecast to maintain its key lending rate at a record low 0.50 percent, where it has stood since March 2009.

W140 Full Story
China Slowdown Biggest Risk to Asian Growth

A slowdown in China's economy is perceived as the biggest risk to Asia's economic growth, a survey of regional powerbrokers released Wednesday said.

While there were also worries about the weakness in the European and U.S. economies, the survey by the Pacific Economic Cooperation Council (PECC) think tank said there was more concern over the effects of a slowdown in China.

W140 Full Story
Iraq Threatens to Cut Kurdistan Budget over Oil Row

Iraq's cabinet threatened on Tuesday to cut the autonomous Kurdish region's budget by $3 billion over a suspension of oil exports in a wide-ranging dispute between the two sides.

Kurdish authorities in Arbil suspended exports of oil via central government pipelines in April as a result of a payment dispute, restarting them last month as part of a goodwill gesture that is due to expire on September 15.

W140 Full Story
Coffee Giant Starbucks Taps into Tea-Loving India

Starbucks is betting on big returns as it seeks to lure an expanding legion of coffee lovers in India -- primarily a tea-drinking nation where lifestyle changes have spawned a booming market for cafes.

After eyeing the Indian market for years, the world's largest coffee chain is planning its foray into the country later this year, with an initial $78 million investment to tap the country's fast-growing appetite for the drink.

W140 Full Story
Moody's Downgrades EU Rating Outlook to 'Negative'

Moody's on Monday lowered the European Union's long-term issuer rating outlook from stable to negative, saying the move reflected credit risks of the bloc's key budget contributors.

"It is reasonable to assume that the EU's creditworthiness should move in line with the creditworthiness of its strongest key member states," it said, citing negative outlooks for Britain, France, Germany and the Netherlands.

W140 Full Story
‘Beirut Digital District’ Launched in Beirut

The Beirut Digital District (BDD) was launched Monday in the neighborhood of Bashoura, in the heart of Beirut, with the aim of creating a hub for technology, attracting foreign investment and helping retain young and talented Lebanese.

BDD fosters accelerators to boost startups and allows closing deals, sharing ideas, developing projects, and expanding businesses, said Minister of Telecommunications Nicolas Sehnaoui in a tweet.

W140 Full Story