Business

BusinessBay Ledger News Zonebill@blnz.comtag:www.blnz.com,2009:topics/businessItaly set for decision on new governmenttag:www.blnz.com,2009:2013/03/22/Italy_decision_government_c70d

Italy's President Giorgio Napolitano said he will hand out a mandate for the formation of a new government on Friday in a bid to break a deadlock created by elections last month, but the identity of the possible prime minister is still a mystery.

2013-03-22T09:02:14ZAFP Global Editionby Dario ThuburnCyprus MPs study bailout 'Plan B' as meltdown loomstag:www.blnz.com,2009:2013/03/22/Cyprus_study_bailout_Plan_meltdown_bc60

Cyprus is scrambling to overhaul its banking sector to avoid financial meltdown, after the European Central Bank threatened to pull the plug on emergency funding for the island's lenders.

2013-03-22T08:39:33ZAFP Global Editionby Charlie CharalambousBP says to return $8 bn to shareholderstag:www.blnz.com,2009:2013/03/22/says_return_shareholders_e78f

British energy giant BP on Friday said it would return up to $8.0 billion (6.2 billion euros) to company shareholders by repurchasing shares, a day after completing the sale of its stake in a Russian joint-venture.

2013-03-22T07:53:42ZAFP Global EditionBy Staff ReporterPutin welcomes China's Xi for landmark talkstag:www.blnz.com,2009:2013/03/22/Putin_welcomes_Chinas_landmark_talks_b20d

Russian President Vladimir Putin and China's new leader Xi Jinping are to hold landmark talks Friday in the hope of further cementing the two countries' partnership with a range of strategic agreements.

2013-03-22T06:13:40ZAFP Global Editionby Anna SmolchenkoCyprus launches banking overhaul as meltdown loomstag:www.blnz.com,2009:2013/03/21/Cyprus_launches_banking_overhaul_meltdown_cd56

Cyprus is scrambling to overhaul its banking sector to avoid financial meltdown, after the European Central Bank threatened to pull the plug on emergency funding for the island's lenders.

2013-03-22T03:17:57ZAFP Global Editionby Charlie CharalambousPutin welcomes China's Xi for landmark talkstag:www.blnz.com,2009:2013/03/21/Putin_welcomes_Chinas_landmark_talks_b20d

Russia's President Vladimir Putin and China's new leader Xi Jinping are to hold landmark talks on Friday in the hope of further cementing the two countries' partnership with a range of economic and strategic agreements.

2013-03-22T02:49:06ZAFP Global Editionby Anna SmolchenkoIMF urges Iraq to bolster non-oil sectortag:www.blnz.com,2009:2013/03/21/urges_Iraq_bolster_non-oil_sector_e5c5

The IMF forecast Thursday that Iraq's economy would grow around nine percent this year helped by surging oil production, but said Baghdad needs to do more to support private, non-oil business.

2013-03-21T22:19:05ZAFP Global EditionBy Staff ReporterBrazil, China to ink deal on trade in national currencytag:www.blnz.com,2009:2013/03/21/Brazil_China_deal_trade_national_c515

Brazil hopes to sign a bilateral accord with China to promote trade in their national currencies at next week's BRICS summit of the world's five emerging powers, Trade and Industry Minister Fernando Pimentel said Thursday.

2013-03-21T21:45:00ZAFP Global EditionBy Staff ReporterCanada hopes economy picks up to balance budget by 2015tag:www.blnz.com,2009:2013/03/21/Canada_hopes_economy_picks_balance_1fff

Canada's Tory government pegged a return to a balanced budget and its re-election hopes in 2015 on a strong rebound in the economy on Thursday, after being dealt an unexpected slump in recent months.

2013-03-21T21:38:40ZAFP American Editionby Michel ComteS&P cuts Cyprus rating as banking meltdown loomstag:www.blnz.com,2009:2013/03/21/cuts_Cyprus_rating_banking_meltdown_ec3b

Ratings firm Standard & Poor's dealt a further blow to reeling Cyprus Thursday, cutting its credit rating as the eurozone country struggles to avoid a banking sector meltdown.

2013-03-21T21:27:18ZAFP Global EditionBy Staff ReporterItaly president to unveil decision on new government Fridaytag:www.blnz.com,2009:2013/03/21/Italy_president_unveil_decision_government_bba8

Italian President Giorgio Napolitano said he will announce on Friday his decision on who will be asked to form a government after inconclusive elections in the austerity-stricken country and amid rising tensions in the eurozone.

2013-03-21T21:21:01ZAFP Global Editionby Ella IdeUS stocks drop on Cyprus, weak earningstag:www.blnz.com,2009:2013/03/21/stocks_drop_Cyprus_weak_earnings_24e0

US stocks fell Thursday, hit by uncertainty over the Cyprus banking crisis and some surprisingly weak corporate earnings.

2013-03-21T20:54:52ZAFP Global EditionBy Staff ReporterRajaratnam's brother charged in Wall St insider casetag:www.blnz.com,2009:2013/03/21/Rajaratnams_brother_charged_Wall_insider_0d91

US prosecutors unveiled insider trading charges Thursday against the brother of disgraced hedge fund manager Raj Rajaratnam in the latest chapter of a giant Wall Street fraud investigation.

2013-03-21T20:31:32ZAFP Global EditionBy Staff ReporterS&P cuts Cyprus rating one notch to 'CCC'tag:www.blnz.com,2009:2013/03/21/cuts_Cyprus_rating_notch_CCC_f02d

Ratings firm Standard & Poor's cut troubled Cyprus' sovereign credit rating by one notch on Thursday citing "acute problems" in Cyprus's banking sector.

2013-03-21T20:24:55ZAFP Global EditionBy Staff ReporterCanada cuts growth forecasttag:www.blnz.com,2009:2013/03/21/Canada_cuts_growth_forecast_4510

Canada's finance minister unveiled a no-frills budget on Thursday that aims for a return to black in 2015 despite a lower economic growth forecast of 1.6 percent for this year.

2013-03-21T20:21:32ZAFP American EditionBy Staff ReporterT-Mobile deal with MetroPCS get regulators' OKtag:www.blnz.com,2009:2013/03/21/T-Mobile_deal_with_MetroPCS_regulators_dcfc

T-Mobile USA's deal to merge with smaller telecom carrier MetroPCS has cleared all regulatory hurdles in the United States, the companies announced Thursday.

2013-03-21T18:39:36ZAFP Global EditionBy Staff ReporterPro-fracking filmmaker accuses IMF of censorshiptag:www.blnz.com,2009:2013/03/21/Pro-fracking_filmmaker_accuses_censorship_7158

The maker of a documentary in support of oil and gas fracking accused the International Monetary Fund Thursday of censorship after it declined to show a key clip from his film at a conference.

2013-03-21T18:36:02ZAFP Global Editionby Jeremy TordjmanOverhaul of Cyprus banks on cards as meltdown loomstag:www.blnz.com,2009:2013/03/21/Overhaul_Cyprus_banks_cards_meltdown_bc0d

Cyprus Thursday was examining an overhaul of its banking sector to avoid financial meltdown after the European Central Bank threatened to pull the plug on emergency funding for the island's banks.

2013-03-21T18:24:50ZAFP Global Editionby Charlie CharalambousCrisis 'should not affect Madrid 2020 bid'tag:www.blnz.com,2009:2013/03/21/Crisis_should_affect_Madrid_2020_a18c

The head of the International Olympic Committee's Evaluation Commission Craig Reedie said he is happy with the guarantees given by the Madrid 2020 bid team that the Spanish economy could support hosting the Olympics.

2013-03-21T17:54:28ZAFP Global EditionBy Staff ReporterCyprus brinksmanship could spin out of control: analyststag:www.blnz.com,2009:2013/03/21/Cyprus_brinksmanship_could_spin_control_8fce

As the EU raised the spectre of a eurozone exit for Cyprus, experts warned on Thursday of the consequences of brinksmanship from Brussels to Moscow in the race to fix new bailout terms.

2013-03-21T17:41:29ZAFP Global EditionBy Staff Reporter