Latest Business News
EU closes in on deal on contested budget but MEPs wary
After months of tough negotiations, the EU executive, the member states and the parliament thrashed out a possible compromise on a trillion-euro budget Wednesday to cover European Union spending over the next seven years.
Britain to consider creating RBS 'bad' bank: Osborne
British finance minister George Osborne on Wednesday ordered a review into whether state-rescued Royal Bank of Scotland should be split into 'good' and 'bad' banks, with the latter housing written-off assets, as part of the government's plan to return RBS to the private sector.
Greek political deadlock over state broadcaster continues
Talks Wednesday between Greece's prime minister and his coalition partners failed to resolve the political deadlock caused by the government's shutdown of state broadcaster ERT, and are set to continue.
US oil prices dip despite inventories build
Despite an unexpected build in US oil inventories, US oil prices Wednesday declined only modestly.
Former investigators question 1996 US-France crash
Six former investigators of the 1996 crash of TWA flight 800 from New York to Paris said on Wednesday the aircraft was brought down by an external explosion and called for the probe to be reopened.
Commerzbank confirms to axe over 5,000 jobs
Management and employees' representatives at Commerzbank, Germany's second-biggest bank, reached agreement Wednesday on cutting over 5,000 jobs during the next three years.
Fed lowers growth, inflation forecasts
The Federal Reserve on Wednesday trimmed its growth forecast for 2013 slightly and slashed its inflation outlook, suggesting it saw little threat to prices from its ongoing easy-money program.
Aid group urges Spain to scrap 'dangerous' healthcare reform
A medical aid group on Wednesday urged Spain to scrap a "dangerous" austerity reform that has deprived nearly 900,000 foreigners of access to free healthcare, saying it was putting lives at risk.