ECONOMY

Apple Inc's booming China market share has plunged for the second consecutive quarter in October-December, losing out to cheaper deals from local brands like Huawei and ZTE, according to Reuters. The local brands have been promoting their products aggressively through the channel service partners for quite some time now.

Lloyds Banking Group takes back part of huge packages awarded to senior directors during 2010.

"Oil sales to British and French companies have ceased," the Oil Ministry says. The decision is not expected to have a big impact on either Britain or France, however.

A report by the Campaign for Community Banking Services (CCBS) says the number of bank branches in Britain will drop from 9,550 to 8,000 by 2018.

Though the economic performance of Europe continues to weigh on the prospects of global growth, emerging markets and the United States are giving a glimmer hope to the world economy, analysts believe.

Economists and financial analysts caught out by surprise surge of retail sales figures across UK despite gloomy outlook.

In separate reports released on Feb. 15, both Airbus and Boeing have agreed that there is tremendous potential for growth of the aviation industry in the Asia-Pacific region.

In recent times it seems carrier operating costs have outstripped profit margins accrued through sales of smartphone devices, particularly for those from the big brands like Apple.

President Mahmoud Ahmadinejad has inserted the first rod in to the reactor, according to a footage shown in Iran’s English language Press TV.

Karolos Papoulias sacrifices wages as bailout rests 'on knife edge'.

An enterprising Spanish village is re-establishing the peseta (the former Spanish currency) in a bid to boost the local economy.

UK unemployment figures rise by 48,000 to 17-year high of 2.67 million.

Eurozone crisis following Greek default would put UK economic recovery at risk, says Bank of England.

Eurozone economic output contracted by 0.3 percent in last three months of 2011, official figures show.

Prince Charles takes on 100 'job ambassadors' to get 100,000 long-term unemployed jobless back into work.

Brussels meeting with European Bank president Mario Draghi and Olli Rehn, EU finance commissioner, scrapped.

Scottish Premier club tax fight sees them docked 10 points after entering administration.

EU's Eurostat agency predicted to reveal eurozone economy shrinking 0.4 percent in Q4.

Cosmetics giant L'Oréal sees growth across luxury and Asian markets as profit report is released.

Inflation at lowest point since November 2010.

UK's AAA credit rating in danger after Moody’s puts country on negative watch along with France and Austria.

UK's five biggest banks miss lending targets for smaller businesses, says Bank of England.

On 11 February 2011, the West's "man in Cairo", Hosni Mubarak, was toppled from power, the result of continuing and increasingly violent anti-government demonstrations. After 18 days of civil unrest during which all the Government's concessions had been spurned and with no tangible support from his allies abroad, Mr Mubarak, the President of Egypt for almost 30 years, finally stood down.

Although the Confederation of British Industry played down recession threats on Monday, a study by the Chartered Institute of Personnel and Development (CIPD) paints a dismal picture of the job scene.

The President of Iran has made a startling announcement... one sure to set alarm bells ringing throughout the White House, the European Union (EU) and in the International Atomic Energy Agency (IAEA).

Confederation of British Industry predicts Britain will avoid recession and see growth in second half of 2012.

Continuing disagreements between policy administrators in the European Union (EU) and heads of the global aviation industry could threaten the operations of airlines both inside and outside the EU.

Greek parliament accepts stringent financial austerity package, slashing jobs, pay and pensions and sparking riots across country.

U.S.-based commercial aircraft manufacturer Boeing has announced they intend to scale up production speeds of their newly launched 787 Dreamliner, to 10 planes per month, by the end of 2013.