ECONOMY

Bankia restated its 2011 results putting the loss at €2.98bn against the earlier reported €309m profit.

Bank's chief executive Lloyd Blankfein would be taking a pay cut and receive lower pay compared to his counterparts in JPMorgan and Citigroup, shareholders told.

Asia shares erase yearly gains and Japan hits a 20-year weekly losing streak as investors flee risky bets across global markets

Alibaba raising funds for the buyback through a stake sale to China Investment Corp.

Gina Rinehart, an Australian mining tycoon has leap-frogged Walmart heiress Christy Walton as the world's richest woman with a daily income of £32m.

Grexit talk gets real as EU Leaders meet the low expectations set at Brussels dinner summit

Company plans to complete layoffs within two years, mainly through early retirement to minimise number of redundancies.

It was all about the Grexit: what if Greece leaves the Euro scenario but despite that the President of the EU Council, Herman Van Rompuy said they don't want Greece to leave.

The economic slowdown in China has affected the growth of exports in other Asian countries, especially in Japan.

The British defence group signs bumper deal with Saudi Arabia, which includes jets and related support and services

At the heart of the European Union is a pact that was first formed by two European leaders who were determined to lay to rest for good, the past enmity between their two countries. Konrad Adenauer, Chancellor of West Germany from 1949 to 1963, made his first visit to General de Gaulle, the French President and founder of the Fifth Republic, at his home in Colombey-les-Deux Églises in 1958.

The retail sales fall wipes out gains made in March and is another sign that the UK is back in recession.

London Stock Exchange shares dive after Italy's UniCredit and Intesa Sanpaolo confirm stake sale

We all spent much less last month and it’s a record drop. According to figures released by the Office of National Statistics today, retail sales volumes fell by 2.3% last month, all because of a sizeable fall in petrol sales.

Former Greek PM claims exit risk "real" as European Leaders prepare emergency Summit meeting

Australia ranks as world's happiest nation in OECD Better Life Index - ahead of Norway and US.

The British government and the Bank of England must do much more to stimulate growth in the country's economy, the IMF's Christine Lagarde said.

The number of Royal Dutch Shell shareholders opposing company executive pay rises increases.

Despite disappointing April data showing a slowdown in China iron ore, coal, copper and other commodities demand, analysts tell IBTimes UK that there is nothing to worry about

Credit rating agency downgrades Japan's rating to A+ with a negative outlook

UK Consumer Price Index annual inflation rate falls to 3 percent year on year and 0.6 percent month on month

IMF supports Britain's austerity but says more spending needed if economy doesn't improve

Investment bank’s total losses for its London operations reported to be are more than double original estimates. JP Morgan also confirm suspension of share repurchases.

UK's Financial Services Authority fines Sachin Karpe and Laila Karan for unauthorised trading scheme in the foreign exchange markets.

The U.S. President Barack Obama hosted the largest ever NATO summit in his home town, Chicago, a day after major industrialized nations tackled a European debt crisis that threatens the global economy.

Spain's Economy Minister shoots-down calls for Spanish banks to be bailed out, despite the country’s banking industry teetering on the brink of collapse

Media sources say that motor racing giant Formula One has gained approval for an initial public offering worth nearly $3bn on Singapore's stock exchange

Budget airline Ryanair warns of a future decline in profits on higher fuel costs, despite beating forecasts with a 2012 profit surge.

Prices might zoom to $160 per barrel post sanctions. In February prices touched $110 a barrel because of tension in the Strait of Hormuz.