The power company behind Japan’s Fukushima nuclear plant disaster has asked for another 1.85tn yen ($22.4bn; £14.1bn) in aid. The Tokyo Electric Power Company (Tepco) said it needs another 846bn yen for higher compensation claims. It wants the remaining 1tn yen to keep the company afloat, including covering the cost of shutting down the plant. [...]
H&M profits hit by higher costs
Profits at the world’s third biggest clothes retailer, Hennes & Mauritz, have edged higher. In the first quarter H&M made a net profit of 2.7bn Swedish krona ($406m; £255m), up from 2.6bn krona in the same period in the previous year. The company said that profits were hit by higher purchasing costs, which it did [...]
China reports large trade deficit as imports surge
China posted its largest trade deficit in at least a decade in February, after imports of commodities jumped as companies built up supplies. The deficit was $31.5bn (£20bn) after imports rose 39.6% from a year earlier and exports rose 18.4%, the customs bureau said. Analysts said the widening trade gap may signal deeper economic issues [...]
Greece and Spain top agenda at Eurogroup meeting
Finance ministers from eurozone nations are to meet on Monday to discuss giving Greece’s second bailout final approval. The Eurogroup, which includes eurozone finance ministers, the president of the European Central Bank and European Commission chiefs, meets in Brussels. Spain’s financial status is also likely to be on the agenda. Earlier this month, Spain said [...]
OECD: Eurozone shows ‘tentative’ signs of recovery
The eurozone is showing “tentative” signs of recovery, according to the latest report from the Organisation for Economic Co-operation and Development (OECD). The OECD researches economics for the 30 nations that make up its membership. For the eurozone, its leading indicator of economic activity rose in January and also turned positive for Britain. The United [...]
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