Finance & Economics | WPN World People News

Moving a step towards banking union, the European Commission Wednesday unveiled proposals designed to safeguard taxpayers' interests and money while ensuring that shareholders and creditors bear the burden of losses by failed banks.

Australian flag carrier Qantas has warned its annual profit will drop by up to 91 per cent, sending its shares to an all-time low amid investor fears.

The UAE based Etihad Airways has acquired a 3.96 per cent stake in Virgin Australia, the fourth major acquisition in the last six months, the airlines announced Tuesday.

Secretary-General Ban Ki-moon (second left) addresses the General Assembly ahead of the G20 summit to be held in Mexico on 18 and 19 June 2012.

KUALA LUMPUR Global energy major ExxonMobil Corp. sees new opportunities for supply of low emission natural gas to fuel economic growth and environmental progress as it mulls setting up a petrochemical plant and exports of liquefied natural gas (LNG) from the US.

Spain has signaled that the country may need a European Union bailout to rescue its collapsing banking system even as Cyprus too edged closer to a bailout.

US oil and gas producer Vanguard Natural Resources has struck a $445 million deal to acquire natural gas and liquid assets of independent exploration and production company Antero Resources.

Over 4,300 jobs were created in the city of London in May, a surprising jump of 25 per cent over April, although still a third less than during the corresponding month a year back, according to a new study by recruitment firm Astbury Marsden.

US health insurer WellPoint Inc plans to buy contact-lens and eyewear retailer 1-800 Contacts Inc, the largest direct-to-consumer retailer of contact lenses in America, from private equity firm Fenway Partners in deal estimated to be close to $900 million.

Indonesian state-controlled gold and nickel miner, PT Aneka Tambang is seeking 2.6 billion U.S. dollars in investments through 2014 to finance various projects in the country, a media reported here on Monday.