Business | MyFOX Spokane

Swiss bankers say assets not blunted by tax deals

Submitted by Fox First at Ten on November 21st

GENEVA (AP) - The trade group for Swiss banks says their foreign assets account for just over half of the 5.3 trillion francs ($5.64 trillion) in assets they manage, despite pressure from other countries to clamp down on tax evaders. Swiss Bankers Association CEO Claude-Alain Margelisch says there

UK still borrowing more than planned

Submitted by Fox First at Ten on November 21st

LONDON (AP) - The British government continued to borrow more than planned in October as corporation tax collections fell sharply in the wake of a nine-month recession, official figures showed Wednesday. The Office for National Statistics said borrowing in October was 8.6 billion pounds ($13.7

WHY IT MATTERS: The EU budget debate

Submitted by Fox First at Ten on November 21st

By DON MELVINAssociated Press BRUSSELS (AP) - The Issue: Europe's leaders will gather in Brussels on Thursday to decide on how much the European Union, the political and economic partnership between 27 of the region's countries, will spend in the next seven years. Compared to the size

Macau grapples with booming casino economy

Submitted by Fox First at Ten on November 21st

By KELVIN CHANAP Business Writer MACAU (AP) - In a nondescript building around the corner from the world's biggest casino, students at the Macau Polytechnic Institute are in class. Huddled at a long table topped with green felt, they pay close attention as their instructor writes a series

Japan's Abe says strong economy tops his platform

Submitted by Fox First at Ten on November 21st

By MARI YAMAGUCHIAssociated Press TOKYO (AP) - Former Japanese Prime Minister Shinzo Abe said Wednesday that he will spearhead an economic recovery and strengthen Japan's military if his conservative party regains control in elections next month. "We will recover Japan," Abe told a news

Greek PM presses for deal on loan

Submitted by Fox First at Ten on November 21st

By ELENA BECATOROSAssociated Press ATHENS, Greece (AP) - Greece reacted with dismay Wednesday after European finance ministers failed to agree to release vital rescue loans, with the prime minister warning that the stakes are higher than just his debt-ridden country's future. After 12 hours

EU nations head into tough budget summit

Submitted by Fox First at Ten on November 21st

By RAF CASERTAssociated Press BRUSSELS (AP) - Everyone's drawing lines in the sand, but the leaders are so far apart they might as well be on different beaches. The European Union heads into a critical summit Thursday to hammer out a €1 trillion ($1.28 trillion) budget through 2020 - and it

Oil up to above $87 after Tel Aviv bus explosion

Submitted by Fox First at Ten on November 21st

By PABLO GORONDIAssociated Press The price of oil rebounded slightly to above $87 a barrel on Wednesday after an explosion injured 10 people on a bus in Tel Aviv, a development that has the potential to seriously complicate diplomatic efforts to broker a cease-fire between Israel and Islamic

Survey on China manufacturing lifts Asia stocks

Submitted by Fox First at Ten on November 21st

By PAMELA SAMPSONAP Business Writer BANGKOK (AP) - Asian stock markets rose after a private survey released Thursday showed manufacturing in China at a 13-month high, rare good news for the global economy. Sentiment also benefited from a cease-fire agreement between Israel and Hamas in the Gaza

Japan logs 4th straight trade deficit in October

Submitted by Fox First at Ten on November 21st

By MALCOLM FOSTERAssociated Press TOKYO (AP) - Japan logged its fourth straight monthly trade deficit in October as the European debt crisis and strained business ties with China over a territorial dispute reduced exports. The Ministry of Finance said Wednesday that imports exceeded exports by