Business

After three days of delays, Greek coalition leaders held crucial debt talks yesterday with the prime minister to review a draft deal on steep cutbacks demanded by creditors in return for a €130 billion ($170 billion) bailout.

Nokia Corp plans to stop assembling cell phones in Europe by year-end as it shifts production to Asia and will cut another 4,000 jobs, its latest attempts to cushion itself from stiff competition in the smartphone sector.

Citibank yesterday confirmed that it has been engaged by the Government as debt process advisor to assist with the Phase 2 settlement of claims with respect to holders of Clico’s short term investment policies in amounts greater than TT$75,000.

Oil prices are slightly higher yesterday following government reports that US crude stockpiles didn’t grow as much as expected last week.

Facebook unveiled plans for the biggest ever Internet initial public offering (IPO) that could raise as much as US$10 billion, but made it clear chief executive officer Mark Zuckerberg will exercise almost complete control over the company, leaving...

Markets were cautious yesterday as investors waited for Greek political leaders to endorse an austerity plan that would allow the country to claim its second bailout.

Overall market activity resulted from trading in seven securities of which three advanced, none declined and four traded firm.

Interest in US energy companies spiked in 2011 as buyers clamoured for more access to oil-rich layers of North American shale, a consulting and accounting firm said yesterday.