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Latest Business News

Coast Guard allows toxic chemical use on Gulf oil (AP) -

Oil containment boom is seen with fresh oil near Comfort Island, in Yscloskey, La. Saturday, July 31, 2010. On shore, BP, Halliburton and Transocean are engaging in a billion-dollar blame game over the blown-out oil well in the Gulf of Mexico. At sea, they're depending on each other to finally plug up the environmental disaster. (AP Photo/Judi Bottoni)AP - The U.S. Coast Guard has routinely approved BP requests to use thousands of gallons of toxic chemical a day to break up oil slicks in the Gulf of Mexico despite a federal directive that the chemicals be used only rarely on surface waters, congressional investigators said Saturday after examining BP and government documents.


Fiat boss shakes up Italian labour (AFP) -

Fiat boss Sergio Marchionne is shaking up labour relations in Italy by strong-arming unions as he aims to create a global megagroup with US automaker Chrysler.(AFP/File/Alberto Pizzoli)AFP - Fiat boss Sergio Marchionne is shaking up labour relations in Italy by strong-arming unions as he aims to create a global megagroup with US automaker Chrysler.


Debate on death and taxes heats up as billionaires fall (AFP) -

A scoreboard displays a photo of George Steinbrenner, owner of the New York Yankees during his memorial ceremony on July 16, 2010 at Yankee Stadium in the Bronx borough of New York City. The question of death and taxes has risen to the fore in Washington as the demise of prominent billionaires has underscored a fluke which allows big estates to escape taxes, but only for this year.(AFP/Getty Images/File/Al Bello)AFP - The question of death and taxes has risen to the fore in Washington as the demise of prominent billionaires has underscored a fluke which allows big estates to escape taxes, but only for this year.


UK's Osborne urges banks to lend, restrain bonuses (Reuters) - Reuters - British finance minister George Osborne urged the country's banks to use strong first-half profits to boost business lending rather than pay large bonuses, in an interview published late on Saturday.
Michigan voters search for economic savior (AP) -

President Barack Obama addresses employees at the Chrysler's Jefferson North Assembly Plant in Detroit, Friday, July 30, 2010. (AP Photo/Carlos Osorio)AP - Michigan voters frustrated over lost jobs, home foreclosures and budget deficits will vote in Tuesday's primary election for leaders they hope can move the state out of its economic morass.


BP may sell German gas stations for $2.6 billion: report (Reuters) - Reuters - BP Plc is seeking to sell its German petrol station chain Aral for around 2 billion euros ($2.6 billion), German magazine Wirtschaftswoche reported on Saturday, citing investment bankers familiar with BP's plans.