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Standard Chartered bank has been accused by the US of laundering billions of dollars of money from Iran over the past decade even though many of the Iranian institutions the bank was dealing with were subject to US sanctions. According to the New York State Department of Financial Services up to $250 billion has been laundered and...

International Airlines Group shares dropped 5.2 per cent on Friday after the Iberia and British Airways owner announced a 390 million euro loss for the half-year ending in June. This is compared to pre-tax profits of 39 million euros for the same period a year earlier. According to the group the losses were mainly due to the problems being...

A sharp swing in stock prices has caused the New York Stock Exchange to investigate a spate of irregular trading. Stocks in 140 companies were being traded at higher than normal volumes including American Airlines and Citigroup. However, trades have only been cancelled in six stocks. The abnormal trading has brought back memories of the...

UBS has blamed a loss of 349 million Swiss francs on problems associated with the flotation of Facebook. The Swiss bank is claiming that a mishandling by Nasdaq meant that it ended up with far more shares in the social networking site than it had initially ordered. Facebook shares have tumbled in price following the stock exchange...

Manchester United Football Club has announced plans to list on the New York Stock Exchange. The club aims to sell 16.7 million shares at as much as $20 each in an effort to raise $330 million. The decision follows a fall in revenue over the last year after the team saw its Champion’s League hopes dashed. Manchester United said that it...

Facebook shares dropped to an all time low last week after the social networking site published its first ever quarterly results since becoming a public company. The company said that for the quarter ending in June it had lost $157 million. When it first listed on the Nasdaq back in May the price per share was $38. Last week saw that price...

Although Apple’s net profits have risen 21 per cent for the quarter ending in June hitting $8.8 billion, the figure was less than expected. Sales for the computer and gadget manufacturer have risen from $28.6 billion for the three months in 2011 to $35 billion for the latest quarter. However, sales of the iPod were down 10 per cent and...

Asia Pacific Breweries has seen its share price climb by 17 per cent on the Singapore Stock Exchange to hit 49 Singapore dollars each. The Tiger beer maker has received a takeover bid by Heineken which wants to pay S$50 per share for the stake in the company it does not already control. APB, One of the largest brewers in Asia, is currently...

Microsoft has declared a quarterly loss for the fist time ever. The computing giant lost $492 million in the second three months of 2012 compared to a $5.9 billion profit announced for the same quarter a year ago. The main reason for this is a decision by the company to write down the value of online advertising business...

Internet auction site and retailer eBay has announced that in the second three months of the year its income doubled compared to the second quarter of 2011. Net income for the company was $692 million compared to $283 million a year earlier. Revenue was also up above the expectations of analysts to $3.4 billion which was an increase of 23...