Carlos Slim will cut phone fees to skip fine
Mexico’s competition watchdog has ordered Carlos Slim to cut charges he levies on mobile phone competitors in exchange for dropping a record fine, exacting a small concession from the country’s dominant telecoms mogul. Slim’s cash cow, mobile giant America Movil, said on Thursday it had agreed with Mexico’s Federal Competition More...
Cloudy horizon for French economy
It is a chilly spring evening in Nantes, western France. Despite the cold, the town is busy. The elegant restaurants and fashionable bars around the opera house are not short of customers. It is hard to see much More...
Facebook IPO values company at between $85bn and $95bn
Facebook has set the share price for its upcoming initial public offering (IPO) at between $28 and $35 per share, valuing the company at between $85bn-$95bn. The IPO is set to be the largest ever for an internet More...
Greek debt rating raised by S&P
Greece has had its government debt rating raised out of default by credit rating agency Standard & Poor’s. S&P upgraded the crisis-hit nation to “CCC” from “selective default” More...
Euro zone unemployment equals record high in March
Unemployment in the euro zone rose to 10.9 percent in March, equaling the record high of 15 years ago, data showed on Wednesday, driven by rises in Italy and Spain. The jobless rate in the 17 nations using the single More...
Italy jobless rate at fresh high
Unemployment in Italy reached a 12-year high in March as the shrinking economy and spending cuts fed through. The rate in eurozone’s third-biggest economy rose to 9.8%, from 9.6% in February, the national More...
U.S., Alabama urge no delay in BP oil spill trial
The U.S. government said a trial to assign blame and damages among BP Plc and others over the 2010 Gulf of Mexico oil spill should not be delayed until after a hearing over a $7.8 billion settlement of private party More...
Weak petrochemicals knock Total
French oil firm Total has reported a fall in profits due in part to weak demand and high raw material costs at its European petrochemicals business. Net income for the first three months of the year was 3.66bn euros More...