Irish and World Business News
Ireland's trade surplus declined for the second month in a row in March, as imports jumped by 26 per cent but exports experienced slower growth, according to the Central Statistics Office.
- Asian markets fall on growth fears
Hong Kong shares dived to a four-month low on Wednesday after official Chinese media reported flat loan growth in the first two weeks of May for the country's "Big Four" state-owned banks, fanning fears about the slowing Chinese economy.
- Cove reports new gas find
Exploration firm Cove Energy has reported a new gas find off Mozambique, increasing the size of its discoveries in the east African nation by as much as 66 per cent.
- Judgment reserved in Quinn case
Seán Quinn and members of his family had engaged in fraudulent conduct and shown a willingness to pervert the course of justice and use a number of courts for their own purposes, the High Court was told today.
- Greek bond U-turn infuriates creditors
Greece made a last-minute decision today to pay bondholders who refused to accept a debt restructuring, a move that may set a precedent and infuriate creditors who accepted just cents on the euro for their investment in a historic bond swap.
- Government debt at record level
The Government’s liabilities rose during the fourth quarter of 2011, reaching a record level, new data showed today.
- Facebook increases IPO price range
Facebook has increased the price range in Silicon Valley's biggest initial public offering to raise more than $12 billion, giving the social network a valuation potentially exceeding $100 billion.
- EU edges closer to bank capital deal
European finance ministers edged closer today to breaking a deadlock on tougher capital standards for banks, a reform designed to prevent another financial crisis but which has exposed deep rifts between Britain and the rest of the EU.
- Germany helps stave off euro zone dip
The euro zone just avoided recession in early 2012 but the region's debt crisis sapped the life out of the French and Italian economies and widened a split with paymaster Germany.
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The week in pictures - 11 May 2012A selection of some of the most striking images from the last seven days
2012 Greek ElectionsGreek Elections 2012
