Miner Xstrata, the world’s biggest integrated zinc producer, will spend A$274m ($246m) to boost output at its George Fisher mine in Australia by nearly 30 percent by 2013. Xstrata said in a statement it had got approvals from the state government of Queensland to proceed with the expansion of the mine at the group’s Mt. […]

British software firm Autonomy said it was confident there was upside for earnings consensus for 2011, even after organic growth slowed in the third-quarter as some contracts were delayed. The company, whose software searches and organises unstructured information such as emails, phone conversations, documents and video, reported a 10 percent rise in revenue to $211m, […]

World stocks hit a two year high on Thursday, touching levels not seen since September 2008 just after the collapse of Lehman Brothers. Emerging market stocks led the way, touching levels not seen since June 2008. MSCI’s all-country world index, a leading benchmark used by professional investors, was up 0.8 percent in the day at […]

Japan has called into question South Korea’s leadership of the Group of 20 forum because of Seoul’s interventions to stem the won’s rise and insisted its own currency action was qualitatively different. “As chair of the G20, South Korea’s role will be seriously questioned,” Yoshihiko Noda told a parliamentary panel when asked about South Korea’s […]

Hong Kong stocks rose to a 2010 high on October 6 as investors poured money into local assets on expectations of another round of asset purchases by the US Federal Reserve to stimulate the economy weakened the dollar. Mainland banking shares, which have a large weighting on the benchmark index, joined the rally after sharply […]

The Bank of Japan has pledged to pump more funds into the struggling economy and keep interest rates at virtually zero, surprising markets and stealing a march on the Federal Reserve in providing a fresh dose of economic stimulus. For months, the central bank had eschewed government calls for more decisive action, such as buying […]

General Motors Co posted an annual sales gain of 10.5 percent in September amid evidence that the U.S. auto market remained stuck in a slow-moving recovery at the start of the fourth quarter. GM was the first of the major U.S. automakers to report sales for the month. Analysts and industry executives expect auto sales […]

Iraqi banks need to raise at least $10bn in fresh capital over the next three years to prepare for an expected oil-fuelled construction boom and meet new regulatory requirements, an investor said

The Nikkei average clawed up 0.7 percent on Wednesday on window-dressing before the end of Japan’s financial first half, but it pared earlier gains as the yen’s strength revived and resistance held strong. An additional boost came from a poor December outlook in the Bank of Japan’s “tankan” survey of business sentiment, which some market […]

The Lloyd’s of London insurance market revealed that record claims from disasters including the Chilean earthquake and US oil spill halved its profits, and said it saw no respite from a steady decline in prices. Lloyd’s, which traces its origins back 322 years to a London coffee house where wealthy merchants insured ships, has posted […]

European workers have put aside $2.5trn less than they need to fund their retirement, condemning many to a penurious old age unless they start saving more, British insurer Aviva said. The shortfall is equivalent to one-fifth of the EU’s annual economic output and reflects savings habits that have failed to keep pace with lengthening lifespans, […]

The European Commission has said it intends to use a its plan to reform financial markets to rein in speculation on commodities markets, notably by reinforcing controls and extend the market abuse legislation. The European Commissioner in charge of financial reform services Michel Barnier made the announcement in the opening speech of a conference on […]

Iran’s central bank has agreed to open won accounts at two South Korean state-owned banks to avert disruption in bilateral trade despite international sanctions, Seoul’s finance ministry has announced. The Iranian central bank plans to open the accounts with the Industrial Bank of Korea and Woori Bank by the end of this month so that […]

Potash Corp is trying to stitch together a consortium led by China to back a management buyout to trump BHP Billiton’s $38.6bn hostile offer, according to the Globe and Mail. Potash Corp has said ever since BHP launched its bid nearly a month ago that it was working to find a white knight, and worries […]

A German central bank board member who caused outrage with remarks about Muslim immigrants and Jews has resigned after coming under pressure from political leaders including Chancellor Angela Merkel. The Bundesbank said Thilo Sarrazin, 65, who accused Turks and Arabs of exploiting the welfare state, refusing to integrate and lowering the average intelligence, would leave […]