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Topics News & Markets UK banks miss 2011 target for lending to smaller firms but beat goal for total business loans By The Associated Press | February 13, 2012 LONDON - The Bank of England says that the U.K.'s five largest banks fell short of their target for lending to small and medium-sized businesses last year, but exceeded their goal for total business lending. Smaller businesses in the U.K. have complained repeatedly that they were...

Topics News & Markets Italy's borrowing costs drop in sale of 1-year treasury bonds By The Associated Press | February 13, 2012 ROME - Italy has seen its costs of borrowing drop in a sale of one-year Treasury bonds. Interest rates dropped from 2.735 per cent to 2.23 per cent in Monday's auction. Italy put €8.5 billion ($11.21 billion) of 12-month bonds up for auction. Demand slightly outstripped the offer...

Topics News & Markets SingTel's 4Q profit falls as costs rise, contribution from India unit drops By Ak, The Associated Press | February 13, 2012 SINGAPORE - Singapore Telecommunications Ltd. said its quarterly profit dropped 9.6 per cent as costs rose and the contribution from its India unit slumped. SingTel said Monday that profit for the October-December quarter fell to 902 million Singapore dollars ($717 million) from SG...

World stock markets rise after Greek parliament passes harsh austerity packageA currency trader gestures in front of a screen showing the Korea Composite Stock Price Index, center, at the foreign exchange dealing room of the Korea Exchange Bank headquarters in Seoul, South Korea, Monday, Feb. 13, 2012. South Korea's Kospi rose 0.60 percent, or 12.03 points, to close at 2,005.74. (AP Photo/Ahn Young-joon)

Topics News & Markets World stock markets rise after Greek parliament passes harsh austerity package By Carlo Piovano, The Associated Press | February 13, 2012 LONDON - Global markets rose on Monday after Greece's parliament approved a new set of austerity measures required by international lenders in exchange for a bailout that would save the country from bankruptcy next month. Drastic cuts in civil service jobs, minimum wages and welfare...

Greeks clean up damage after riots engulf Athens over new austerity deal voted in ParliamentA woman walks past graffiti which reads "everybody in the streets to overthrow the junta of the markets" in Athens on Monday Feb. 13, 2012. Firefighters are dousing smoldering buildings and cleanup crews are sweeping rubble following a night of rioting in central Athens after lawmakers approved harsh new austerity measures demanded by bailout creditors to save the debt-crippled nation from bankruptcy. The rioting began ahead of a historic vote in Parliament on yet more austerity measures. Lawmakers approved the bill in a 199-74 vote, with strong dissent among the two main coalition partners. (AP Photo/Dimitri Messinis)

Topics News & Markets Greeks clean up damage after riots engulf Athens over new austerity deal voted in Parliament By Elena Becatoros, The Associated Press | February 13, 2012 ATHENS, Greece - Firefighters doused smouldering buildings and cleanup crews swept rubble from the streets of central Athens on Monday following a night of rioting during which lawmakers approved harsh new austerity measures demanded by bailout creditors to save the nation from...

Chinese city seizes Apple iPads in dispute with domestic company over ownership of nameFILE - In this file photo taken on Jan. 26, 2011, a man stands near Apple's iPad advertisement in Shanghai, China. The official said Monday, Feb. 13, 2012, that investigators in Shijiazhuang, southwest of Beijing, started seizing iPads last week at the request of a company that filed a complaint with the government accusing Apple Inc. of violating its rights to the iPad name. (AP Photo/Eugene Hoshiko, File)

Topics News & Markets Chinese city seizes Apple iPads in dispute with domestic company over ownership of name By Joe McDonald, The Associated Press | February 13, 2012 BEIJING, China - Authorities have seized Apple iPads from retailers in a city in northern China due to a dispute with a domestic company that says it owns the iPad name, an official said Monday. The Chinese company said it is asking for similar action in more than 20 other cities. The...

Japan's economy shrinks 2.3 per cent in fourth quarter amid weak exportsA man rides a motorcycle past containers piled up at a port in Tokyo, Monday, Feb. 13, 2012. Japan's economy shrank 2.3 percent in the fourth quarter as manufacturers were battered by the strong yen, weak export demand amid the European debt crisis and flooding in Thailand. (AP Photo/Shizuo Kambayashi)

Topics News & Markets Japan's economy shrinks 2.3 per cent in fourth quarter amid weak exports By Malcolm Foster, The Associated Press | February 13, 2012 TOKYO - Japan's economy shrank 2.3 per cent in the fourth quarter as manufacturers were battered by the strong yen, weak export demand amid the European debt crisis and flooding in Thailand. A drop in public investment during the quarter, due largely to political bickering delaying...

Topics News & Markets Vodafone confirms reports it is considering takeover bid for Cable & Wireless Worldwide By The Associated Press | February 13, 2012 LONDON - Vodafone Group PLC, the world's largest mobile phone company, said Monday it is considering a possible bid for Cable & Wireless Worldwide PLC, causing shares in the telecoms network provider to jump 27 per cent. Responding to reports in weekend newspapers, Vodafone said it...

Topics News & Markets Oil nears $100 in Asia as Greece approves new measures to secure bailout By Alex Kennedy, The Associated Press | February 13, 2012 SINGAPORE - Oil prices rose to near US$100 a barrel Monday in Asia after the Greek parliament approved new austerity measures that should secure a bailout and avoid bankruptcy. Benchmark crude for March delivery was up 88 cents at $99.55 a barrel at late afternoon Singapore time in...

EU open to negotiations but won't scrap airline carbon emissions tax, official saysAirbus Chief Executive Tom Enders speaks during a panel discussion on "Driving Change, Overcoming Challenges" during the Singapore Airshow Aviation Leadership Summit at the Raffles City Convention Centre, Monday, Feb. 13, 2012. Enders said Monday he's concerned that new European Union carbon emission charges for airlines could spark a trade war between Europe and the rest of the world. (AP Photo / Bryan van der Beek)

Topics News & Markets EU open to negotiations but won't scrap airline carbon emissions tax, official says By Alex Kennedy, The Associated Press | February 13, 2012 SINGAPORE - Europe is willing to discuss its new carbon emissions tax for airlines with disgruntled governments but has no plans to scrap the levy, a top EU official said Monday. "We're ready to negotitate within our framework," Siim Kallas, European Commission vice-president and...