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Business News Headlines - BBC

House giant enters administration Wed, 08 Sep 2010 16:18:57 GMT
Property giant Connaught formally enters administration, putting thousands of jobs at risk.
BP spreads blame over oil spill Wed, 08 Sep 2010 15:09:42 GMT
A BP report says "a series of failures" by BP and its contractors were to blame for the massive Gulf of Mexico oil spill.
Writing off tax is 'unaffordable' Wed, 08 Sep 2010 12:45:37 GMT
The country "cannot afford" to write off underpayments of income tax caused by problems with the calculation system, a minister says.
Cable worries over 'casino' banks Wed, 08 Sep 2010 08:51:19 GMT
Business Secretary Vince Cable expresses "worry" about the combination of High Street banks with investment banking, after Bob Diamond is named as Barclays' new boss.
Dublin to break up Anglo Irish Wed, 08 Sep 2010 14:56:17 GMT
The Irish government says it will break up the nationalised Anglo Irish Bank as part of the failed lender's resolution.
UK factory output rises by 0.3% Wed, 08 Sep 2010 09:45:22 GMT
UK manufacturing output rises 0.3% in July from the month earlier, thanks to increased output in the machinery sector.
Canada in third bank rate rise Wed, 08 Sep 2010 14:41:26 GMT
Canada now has interest rates of 1%, after raising its key lending benchmark for the third time this year.
Greece economy contracts by 1.8% Wed, 08 Sep 2010 11:35:30 GMT
The debt-laden Greek economy shrank by a surprise 1.8% in the second quarter as households slashed spending.
Halifax says house prices stable Wed, 08 Sep 2010 13:14:10 GMT
UK house prices have stabilised, according to the latest survey from the Halifax.
Cable's plan to cut science funds Wed, 08 Sep 2010 14:04:55 GMT
Business Secretary Vince Cable has unveiled plans for a squeeze on public funding for scientific research.
Vodafone to pay India $2.6bn tax Wed, 08 Sep 2010 10:59:42 GMT
An Indian court tells Vodafone it has to pay $2.6bn in tax for its takeover of Hutchison Telecom's Indian phone assets.
Obama to back company tax breaks Tue, 07 Sep 2010 15:40:35 GMT
President Obama is to call for company tax breaks in his bid to regain the initiative as mid-term elections loom.
Job market growth slows in August Tue, 07 Sep 2010 23:57:57 GMT
Job appointments grew at their slowest rate in 10 months in August, raising questions about the strength of the UK job market, a survey suggests.
Dana says Korean bid 18% too low Wed, 08 Sep 2010 09:32:44 GMT
Dana Petroleum tells shareholders independent valuers found Korean oil's bid is too low and should be rejected.
Lycatel to make adverts clearer Wed, 08 Sep 2010 11:58:13 GMT
Phone card firm Lycatel agrees to make its charges much clearer in its adverts for international phone cards

Business News Headlines - Associated Press

Ireland to split Anglo Irish into good, bad banks Wed, 08 Sep 2010 17:44:24 GMT
By SHAWN POGATCHNIK 2010-09-08T17:44:24Z
DUBLIN (AP) -- Ireland plans to split its most troubled financial institution, Anglo Irish Bank, in two as part of wider efforts to reassure international lenders that the Irish are taking control of their debt crisis....

Panel examining recession's causes meets in Vegas Wed, 08 Sep 2010 17:30:00 GMT
By OSKAR GARCIA 2010-09-08T17:30:00Z
LAS VEGAS (AP) -- Nevada had unrealistic growth expectations before the nation's financial meltdown battered the state's tourism industry and erased billions of dollars in real estate equity, an economist told a federal commission examining the causes of the Great Recession....

In Gulf work camp, jobless begin glum journey home Wed, 08 Sep 2010 17:08:46 GMT
By BRIAN MURPHY 2010-09-08T17:08:46Z
SHARJAH, United Arab Emirates (AP) -- The hidden face of the Emirates' economic crunch is in places such as Industrial Zone 18 and the ramshackle compound for about 700 migrant workers within. For more than six months, they have lived on charity, fought off rats and slept amid piles of trash after a construction company abruptly closed and left them jobless....

Hungary won't seek to renew IMF, EU loans Wed, 08 Sep 2010 17:04:50 GMT
By 2010-09-08T17:04:50Z
BUDAPEST, Hungary (AP) -- Hungary will not seek any more loans from the International Monetary Fund or the European Union and will be able to meet its financing needs by selling bonds to international and domestic investors, Economics Minister Gyorgy Matolcsy said Wednesday....

EU stress tests body defends process Wed, 08 Sep 2010 16:55:41 GMT
By 2010-09-08T16:55:41Z
LONDON (AP) -- The little-known body that organized this summer's stress tests into 91 EU banks defended itself Wednesday against charges that its assessment was not rigorous enough, particularly with regard to the banks' exposure to potentially-risky government debt....

French unions plan new strikes over retirement Wed, 08 Sep 2010 16:39:38 GMT
By SYLVIE CORBET 2010-09-08T16:39:38Z
PARIS (AP) -- French President Nicolas Sarkozy vowed Wednesday to press ahead with his contested overhaul of the country's pension system and unions promptly announced new national strikes and protests, a day after bringing more than 1 million people to the streets....

European stocks up on US gains, Portugal bond sale Wed, 08 Sep 2010 16:27:17 GMT
By PAN PYLAS 2010-09-08T16:27:17Z
LONDON (AP) -- A solid showing on Wall Street and a relatively successful Portuguese government debt sale helped Europe's stocks recover early losses Wednesday to close higher, though fears of a flare-up in the region's debt crisis lingered amid news that Greece's recession deepened in the second quarter....

Stocks resume rally as European debt worries ease Wed, 08 Sep 2010 17:33:15 GMT
By STEPHEN BERNARD 2010-09-08T17:33:15Z
NEW YORK (AP) -- Stocks resumed their rally Wednesday after a successful auction of Portuguese government debt eased worries about Europe's financial system....

Oracle plans to give Hurd $950,000 annual salary Wed, 08 Sep 2010 16:55:18 GMT
By ANDREW VANACORE 2010-09-08T16:55:18Z
NEW YORK (AP) -- Oracle Corp. plans to pay newly appointed co-President Mark Hurd a base salary of $950,000 annually and said the ousted Hewlett-Packard Co. CEO is eligible for a target bonus of $5 million in the current fiscal year....

BP report blames itself, others for oil spill Wed, 08 Sep 2010 16:21:00 GMT
By HARRY R. WEBER, MICHAEL KUNZELMAN and DINA CAPPIELLO 2010-09-08T16:21:00Z
NEW ORLEANS (AP) -- In an internal report released Wednesday, BP blames itself, other companies' workers and a complex series of failures for the massive Gulf of Mexico oil spill and the drilling rig explosion that preceded it....

Political News Headlines - BBC

Cameron's father dies in hospital Wed, 08 Sep 2010 16:31:52 GMT
David Cameron's father Ian dies in hospital in France shortly after the Prime Minister joined other members of his family at his bedside.
MPs to probe Cameron-Clegg deal Wed, 08 Sep 2010 15:58:46 GMT
MPs are to examine how the coalition was formed after the election and issues arising from the negotiations between the two parties.
MPs to debate phone hacking claim Wed, 08 Sep 2010 17:00:28 GMT
Parliament is to debate allegations that MPs had their mobile phones hacked into by News of the World journalists.
Blair cancels second book event Wed, 08 Sep 2010 10:30:03 GMT
Tony Blair pulls out of a second event related to his memoirs amid threats of disruption by an anti-Iraq war protest.
The Full Story: PM's questions Wed, 08 Sep 2010 11:57:05 GMT
All the action, reaction and analysis as Nick Clegg stood in for David Cameron at prime minister's questions.
Kelly inquest calls under review Wed, 08 Sep 2010 13:21:50 GMT
Ministers meet to discuss whether to release information about the death of government scientist Dr David Kelly and whether to hold a formal inquest.
Paterson warning on parades body Wed, 08 Sep 2010 16:09:48 GMT
The Secretary of State warns that the government will reappoint the Parades Commission if there is no local agreement on parading.
Hannan seeks 'in or out' EU vote Wed, 08 Sep 2010 09:47:43 GMT
Tory MEP Daniel Hannan pushes for a referendum on whether the UK should stay in the EU, calling it a "matter of major constitutional significance".
Cable worries over 'casino' banks Wed, 08 Sep 2010 08:51:19 GMT
Business Secretary Vince Cable expresses "worry" about the combination of High Street banks with investment banking, after Bob Diamond is named as Barclays' new boss.
SNP outlines government programme Wed, 08 Sep 2010 15:36:28 GMT
The Scottish government unveils plans to scrap the "double jeopardy" rule under its new programme for government.
Extradition laws to be reviewed Wed, 08 Sep 2010 17:50:18 GMT
The government orders an independent review of the UK's extradition laws, which will examine if the US-UK treaty is "unbalanced".
At-a-glance: The candidates Tue, 20 Jul 2010 11:05:32 GMT
A rundown of the five candidates in the race to be the next Labour leader.
Leader hopefuls: Policy-by-policy Wed, 01 Sep 2010 08:54:12 GMT
What do the five candidates stand for?
James Landale: State of the race Wed, 01 Sep 2010 00:30:37 GMT
The personalities and policies behind the Labour contest
Newsnight's candidate hustings Tue, 15 Jun 2010 20:58:34 GMT
All the action and expert analysis as the Labour leadership hopefuls went head-to-head on BBC's Newsnight.

Political News Headlines - Associated Press

BP Investigator: 8 failures led to disaster Wed, 08 Sep 2010 13:40:41 GMT
By DINA CAPPIELLO 2010-09-08T13:40:41Z
WASHINGTON (AP) -- The lead BP PLC investigator is saying that eight separate failures had to occur for the company's deepwater well to unleash the largest offshore oil spill in history....

Gibbs: Emanuel will take time weighing mayoral run Wed, 08 Sep 2010 17:39:08 GMT
By 2010-09-08T17:39:08Z
WASHINGTON (AP) -- White House Press Secretary Robert Gibbs says that being mayor of Chicago isn't something that rolls around often and he's sure chief of staff Rahm Emanuel will take some time to weigh his options....

Clinton, Gates denounce planned Quran burning Wed, 08 Sep 2010 17:04:52 GMT
By MATTHEW LEE 2010-09-08T17:04:52Z
WASHINGTON (AP) -- The top two national security advisers in President Barack Obama's Cabinet on Wednesday denounced plans by a small church in Florida to burn the Muslim holy book to commemorate the Sept. 11, 2001 terrorist attacks, saying it would inflame tensions and put Americans abroad at risk....

Top ballot item: bid to legalize pot in California Wed, 08 Sep 2010 17:42:15 GMT
By DAVID CRARY 2010-09-08T17:42:15Z
No single election contest this fall combines the buzz and history-making potential of California's Proposition 19, which would make the state the first to legalize recreational use of marijuana....

Clinton: Planned Quran burning not American way Wed, 08 Sep 2010 16:34:47 GMT
By MATTHEW LEE 2010-09-08T16:34:47Z
WASHINGTON (AP) -- Secretary of State Hillary Rodham Clinton said Wednesday that plans by a small church in Florida to burn the Muslim holy book are "outrageous" and "aberrational" and do not represent America....

US terror training in Yemen reflects wider program Wed, 08 Sep 2010 17:34:52 GMT
By LOLITA C. BALDOR 2010-09-08T17:34:52Z
WASHINGTON (AP) -- Seldom visible in the Yemeni mountains, the elite U.S. commandos training the Yemen's military represent the Obama administration's quest to fight terrorism without inflaming anti-American sentiment....

PROMISES, PROMISES: Few black Coast Guard cadets Wed, 08 Sep 2010 14:43:25 GMT
By DENNIS CONRAD 2010-09-08T14:43:25Z
WASHINGTON (AP) -- At his inaugural parade a half-century ago, President John F. Kennedy watched the U.S. Coast Guard Academy's marching unit pass him on Pennsylvania Avenue and declared it unacceptable. Not one cadet was black, he told an aide, and something ought be done about it....

Gates: Any Russian arms cheating would backfire Wed, 08 Sep 2010 15:17:37 GMT
By ROBERT BURNS 2010-09-08T15:17:37Z
WASHINGTON (AP) -- Defense Secretary Robert Gates assured lawmakers Wednesday he expects Russia to abide by a new nuclear arms treaty, but that even if Moscow cheats it won't gain any military advantage....

Feingold defends record as 'career politician' Wed, 08 Sep 2010 17:44:13 GMT
By SCOTT BAUER 2010-09-08T17:44:13Z
MADISON, Wis. (AP) -- Sen. Russ Feingold defended himself as a "career politician" on Wednesday, challenging his Republican opponent to explain to him in person why that's such a bad thing....

Obama to pitch trio of economic proposals in Ohio Wed, 08 Sep 2010 13:51:48 GMT
By JULIE PACE 2010-09-08T13:51:48Z
WASHINGTON (AP) -- President Barack Obama is voicing unwavering opposition to extending Bush-era tax breaks for the nation's wealthiest families even for a year or two, drawing a sharp contrast with Republicans eight weeks before the November elections....