Business News - AFP

LONDON (AFP) - The economy shrank officially by 0.3 percent in the third quarter but this was better than initial data had shown and was welcomed by economists.

LONDON (AFP) - Gold prices soared to a record above 1,180 dollars here on Wednesday on the back of weak greenback, which makes the precious metal cheaper for buyers using stronger currencies, traders said.

THE HAGUE (AFP) - Bank group ABN Amro reported a third-quarter net loss of a billion euros (1.5 billion dollars) on Wednesday, a sharp improvement from the outcome in the previous quarter.

WASHINGTON (AFP) - The United States has firmed up plans to impose up to 15 percent tariffs on imported Chinese steel pipes targeted for wideranging sanctions for alleged unfair subsidies.

TOKYO (AFP) - Japan posted a trade surplus for a ninth straight month in October as the world's number two economy slowly emerges from its deep slump thanks to recovery in the rest of Asia, according to the latest data.

LONDON (AFP) - The London Stock Exchange announced on Wednesday that six-month net profits nosedived by almost 40 percent, as a result of depressed markets and increasing competition.

LONDON (AFP) - World oil prices rose slightly on Wednesday as traders awaited the weekly US energy report and digested slower-than-expected third-quarter American economic growth.

LONDON (AFP) - British retail banks won a landmark legal case on Wednesday when the newly-created Supreme Court ruled in favour of unauthorised overdraft charges.

BEIJING (AFP) - Chinese banks may need to raise billions of dollars in the next few years as massive lending erodes their capital and leaves them vulnerable to bad debts, a pair of research reports has warned.

STOCKHOLM (AFP) - Swedish luxury carmaker Koenigsegg said Tuesday it was giving up its bid to buy Saab Automobile from its US parent General Motors due to costly delays, plunging Saab's future into doubt.

WASHINGTON (AFP) - The Federal Reserve on Tuesday raised its outlook for US economic growth in 2010 to a range of 2.5 to 3.5 percent, and said the troubles in unemployment appeared to be near a peak.

DUBLIN (AFP) - Recession-hit Ireland was severely disrupted by a one-day strike Tuesday as about 250,000 public sector workers protested at planned austerity cuts in next month's budget.

STRASBOURG (AFP) - The European Union's top executive on Tuesday refused to rule out a bloc-wide tax on its half-billion population, in remarks sure to raise eurosceptic hackles.

WASHINGTON (AFP) - The US economic rebound in the third quarter was weaker than initially estimated, the Commerce Department said Tuesday in cutting its estimate to a 2.8 percent annual pace of expansion.

BERLIN (AFP) - German Chancellor Angela Merkel said Tuesday she was expecting a "comprehensive thank-you letter" from General Motors for huge loans to keep the auto maker's Opel unit afloat, which she said had now been repaid.

WASHINGTON (AFP) - Hot social networking site Facebook said Tuesday it has introduced a dual-class stock structure but has no plans to go public for the moment.

LONDON (AFP) - The Bank of England admitted Tuesday it lent a total of 61.6 billion pounds to Royal Bank of Scotland and HBOS in secret during last year's financial crisis, adding that the cash had been repaid.

BERN (AFP) - Swiss authorities said Tuesday they had informed more than 500 UBS clients suspected of having evaded taxes in the United States whether their data would be transmitted to US tax authorities.

WASHINGTON (AFP) - Shoppers are expected to come out in force but cling a bit tighter to their wallets for the kickoff of the holiday gift-giving season this weekend, new surveys showed Tuesday.

LONDON (AFP) - Gold prices soared to a record 1,174 dollars an ounce here on Monday as a sliding US currency and worries about a possible spike to inflation increased demand for the "safe-haven" metal, traders said.

WASHINGTON (AFP) - A rush to cash in tax incentives helped boost sales of existing US homes 10.1 percent in October, according to data Monday showing fresh momentum for the sector at the heart of the economic crisis.

MADRID (AFP) - European Central Bank President Jean-Claude Trichet said Monday it was "premature" to declare the global financial crisis over, although the "freefall" in economic activity has been halted.

PARIS (AFP) - The French markets watchdog heard claims Monday that 17 current and former EADS aerospace executives saved themselves millions by exploiting insider knowledge of problems with the A380 superjumbo project.

LONDON (AFP) - Britain's political leaders clashed Monday at a key business conference over how to fix rocketing public debt and spark economic recovery, with an election looming next year.

THE HAGUE (AFP) - A Boeing 747, one of four engines powered by a 50-percent biokerosene mix, circled the Netherlands for an hour on Monday for what airline KLM called the world's first passenger flight using biofuel.

BRUSSELS (AFP) - European governments pulled back on Monday from a subsidy war feared by EU commission officials as US auto maker General Motors prepares severe job cuts in Europe.

NEW YORK (AFP) - The dollar came under fresh pressure Monday after comments suggesting US authorities may extend emergency stimulus measures, encouraging traders to move into riskier assets including gold.

NEW YORK (AFP) - Oil prices rose Monday as a weaker dollar helped boost demand for commodities.