The US economy grew at an annualised rate of 0.7% in the fourth quarter of 2015 compared with the same quarter a year ago, official figures show.The rate of growth marks a sharp slowdown from the 2% growth recorded in the previous quarter.The US Commerce department said one reason for the slower growth was a slowdown in consumer spending.Export
About $4bn (£2.8bn) may have been stolen from a fund owned by the Malaysian state, a prosecutor says.The 1MDB fund was set up in 2009 to pay for major new economic and social developments in Malaysia.Last year, Swiss authorities opened an investigation into 1MDB after it amassed more than $11bn (£7bn) of debt.Switzerland's attorney
Foreign Minister Stephane Dion said Canada was prepared to lift sanctions imposed on Iran [Chris Wattie/Reuters]Toronto, Canada - Canada's new government has said it will lift some United Nations-imposed sanctions against Iran, but experts and activists say further changes in relations with Tehran face legal and political barriers.
Global equity markets have been on a rollercoaster ride since the opening sessions of 2016. The violent lurch lower in stocks was initially triggered by fears an economic slowdown in China, the world's second largest economy, was spinning out of control.
But it was the spectacular collapse in oil prices which really lent impetus to the January
South Korea's biggest carmaker, Hyundai Motors, has seen its profits fall for the eighth consecutive quarter, giving a cautious outlook for 2016.Net profit in the months from October to December dropped by 2% to 1.6 trillion won ($1.4bn).Earnings were weighed down both by stagnating demand in emerging markets and by discounts to revive sales in
Russia's economy contracted by 3.7% in 2015, according to preliminary figures published by the country's statistics service.Retail sales plunged by 10% and capital investment fell by 8.4% in the economy's worst performance since 2009.In contrast, Russian GDP increased by 0.6% in 2014.The economy has been hit hard by the extraordinary collapse in
Twenty jetpacks have been purchased by Dubai’s Directorate of Civil Defence for its fleet of emergency response vehicles.
Like a helicopter, jetpacks can take off and land vertically, but they are small enough to operate in confined spaces between buildings or near trees.
Flown by a pilot or remote control, jetpacks allow for rapid
Q: Would a TV series called Mr Timpson be as dramatic as the series Mr Selfridge?
A: Any company lasting 150 years (my great-grandfather opened his first shop in 1865) has plenty of stories to tell. But I fear, if you are looking for a sub-plot scattered with socialising and sexual indiscretion, you are bound to be a bit
FC Barcelona’s Javier Mascherano has pleaded guilty to two counts of tax fraud.
In a hearing that took a little more than ten minutes, Mascherano admitted that he failed to pay taxes on earnings for the years 2011 and 2012. Like many athletes before him, Mascherano’s tax woes can be tied to assigning image rights to
Global stock markets bounced back at the end of a tumultuous week as policymakers sought to play down fears the world was on the brink of a fresh financial crisis.
US, European and Asian markets all rallied after weeks of losses as oil prices rose and policy makers pledged more support for the economy.
It was European Central Bank president Mario