Monthly Archives: March 2011

LONDON – U.K. home builder Taylor Wimpey is selling its North American business to an investment partnership for $955 million. Taylor Wimpey, Britain’s second-largest home builder, said Thursday that its U.S. and Canadian subsidiaries were being sold to TMM Holdings, … Continue reading →

STOCKHOLM – Swedish fashion retailer Hennes Mauritz AB said Thursday that its profit fell 30 percent in the first quarter of the year as a result of higher cotton prices and negative currency exchange effects. The Stockholm-based company said net … Continue reading →

WASHINGTON – The Federal Reserve Bank of New York has turned down an offer by American International Group to repurchase dodgy mortgage bonds that the Fed had taken off the insurance company’s hands during the financial crisis. AIG had offered … Continue reading →

LISBON, Portugal – Portugal’s National Statistics Institute estimates the debt-stressed country’s national budget deficit last year was 8.6 percent — way above the government’s target of 7.3 percent. The estimate published Thursday was another severe setback for Portugal’s attempts to … Continue reading →

DUBLIN – Anglo Irish Bank, the dying institution at the heart of Ireland’s journey to near bankruptcy, confirmed Thursday an Irish-record 2010 net loss of euro17.7 billion ($25 billion) because of property development loans gone bad. Anglo originally revealed its … Continue reading →

NANJING, China (AFP) – US Treasury Secretary Timothy Geithner on Thursday called for more flexible exchange rate policies at a Group of 20 meeting in China, saying it was crucial to global monetary system reform. Geithner did not explicitly single … Continue reading →