China protests hurt Japan shares

17 September 2012 Last updated at 21:38 ET Shares of some Japanese firms that have suspended part of their operations in China in wake of the anti-Japan protests have fallen in Tokyo. Nissan shares dropped 2.5%, Fast Retailing fell 4.2%, Honda Motors dipped 2% and Panasonic slid 1.3%. The protests followed Japan's purchase of islands in the East China Sea, over which China claims...

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Brokerage boss admits $100m fraud

17 September 2012 Last updated at 18:30 ET The founder of US futures broker Peregrine Financial Group has pleaded guilty to a fraud involving 24,000 customers in the US state of Iowa. The embezzlement, totalling over $100m (£61.5m), began some 20 years ago. Russell Wasendorf Sr, who is 64, was once regarded as a noble figure who supported a range of institutions from health care...

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France and UK 'close' on banks

17 September 2012 Last updated at 14:02 ET France and the UK broadly agree on the EU plan for the European Central Bank (ECB) to supervise all eurozone banks, the French finance minister says. Pierre Moscovici also said the UK "will be part of the decision-making process" on bank supervision, even though the UK is outside the 17-nation eurozone. He was speaking in London after talks...

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Treasury 'slow' on Northern Rock

17 September 2012 Last updated at 13:40 ET The Treasury's most senior civil servant has told MPs the government should have been quicker to nationalise Northern Rock following its collapse. Sir Nicholas Macpherson was answering questions from the Public Accounts Committee. It is investigating claims that the taxpayers will end up losing £2bn from the collapse and rescue of the bank....

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Delay fears on EADS and BAE deal

17 September 2012 Last updated at 13:55 ET France's finance minister says the planned merger of defence giants BAE and EADS needs close scrutiny raising fears of delays through political wrangling. The tie-up raised "a lot of questions" over "strategic interests" and "industrial effects," Pierre Moscovici said. Mr Moscovici said the proposed deal must be "examined thoroughly". ...

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Hamleys sold to French toy group

17 September 2012 Last updated at 12:36 ET The 250-year old toy chain Hamleys has been taken over by a French toy retailer for a reported £60m. The chain, whose flagship store on London's Regent Street calls itself the biggest toy shop in the world, has a total of eight outlets in the UK and Ireland and stores around the world. The buyer, Groupe Ludendo, has 300 toy stores in France,...

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iPhone orders boost Apple shares

17 September 2012 Last updated at 11:59 ET Continue reading the main story Apple shares hit a new record high of almost $700, after the firm revealed it had received two million pre-orders in 24 hours for its iPhone 5. Most will be delivered to stores later this week, but due to high demand, some customers will not receive their new handsets until October, Apple said. The latest...

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HSBC to allow Post Office access

17 September 2012 Last updated at 07:57 ET HSBC is to allow customers to use the Post Office counter network for basic transactions following criticism by the government. Most UK banks, except for HSBC and Santander, allow customers to make withdrawals and deposits at post offices. A previous consumer minister last year accused the duo of "holding out" against offering the service....

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Bankrupts face account shut-out

17 September 2012 Last updated at 06:00 ET People recovering from bankruptcy will no longer have a choice over where they can access a bank account as Co-op withdraws from the market. Only the Co-op and Barclays offered accounts to those who are undischarged bankrupts - generally the 12 months after a bankruptcy order is made. The former has said it will no longer accept new customers...

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US in new trade spat with China

17 September 2012 Last updated at 05:17 ET US President Barack Obama is expected to file a new trade complaint against China, accusing it of illegally subsidising exports of cars and car parts. A White House official said China's actions were forcing US manufacturers to shift production overseas. "The key principal at stake is that China must play by the rules of the global trading...

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