International

Wednesday, March 31st 2010 - 02:14 UTC
Main traders agree on quarterly contracts for iron ore, but no mention of China

Two of the world's biggest mining companies have agreed landmark deals with Asian steel mills to buy iron ore on quarterly contracts. The deals could mark the end of annual contracts that have formed the basis for pricing in the steel industry for decades.
Vale and BHP Billiton said the new system was fairer and more transparent.
Wednesday, March 31st 2010 - 02:08 UTC
US criticizes Canada over its Arctic policy

Hillary Clinton has criticised Canada for failing to invite indigenous groups and Scandinavian countries to talks on the future of the Arctic.
Wednesday, March 31st 2010 - 02:04 UTC
UK economy recovery in fourth quarter revised upwards

The United Kingdom economy grew faster than previously thought in the last quarter of 2009, the Office for National Statistics says. It revised October to December's growth to 0.4%, up from the previous estimate of 0.3%.
Tuesday, March 30th 2010 - 04:34 UTC
Rio Tinto executives sentenced to lengthy jail terms for bribery by Chinese court

Four Rio Tinto executives have been found guilty of bribery and stealing secrets by a Chinese court and have all been handed lengthy jail terms. Australian Stern Hu was handed a 10-year sentence. Wang Yong was given 14 years, Liu Caikui seven years and Ge Minqiang eight years.
Tuesday, March 30th 2010 - 04:26 UTC
Aftermath of scandal: strict expenses rules and safeguards for British MPs

British Members of Parliament will not be allowed to buy taxpayer-funded second homes under new expenses rules after the election. Those with seats at least 20 miles or an hour from Westminster will be able to claim rent up to £1,450 a month - equivalent to a one-bed flat.
Tuesday, March 30th 2010 - 04:23 UTC
Relief in European Union: Greece manages to take 5 billion Euros in 7 year bonds

Greece on Monday took five billion Euros with a seven-year bond just days after being given a lifeline by the European Union to help resolve its unprecedented debt crisis but analysts noted timid demand for the offer.
Tuesday, March 30th 2010 - 04:17 UTC
Latest strike by cabin crew cost British Airways £ 5 million a day

British Airways has said that the latest strike by cabin crew has cost them £5.5m-a-day - down from £7m for the first walkout. The airline claims it carried 118,575 passengers in total over Saturday and Sunday compared to 86,262 the last weekend.
Monday, March 29th 2010 - 18:48 UTC
Falklands training ground for UK troops to be deployed in Afghanistan

Eight thousand miles from the United Kingdom in the Falkland Islands more than 150 soldiers from 1st Battalion The Yorkshire Regiment are preparing for war.
Monday, March 29th 2010 - 04:33 UTC
Gibraltar-Madrid air-bridge in doubt after Spanish airline suspends flights

The future of the air bridge between Gibraltar and Madrid was in doubt following Ándalus Líneas Aéreas suspension last week of all flights in the face of unpaid debts running into hundreds of thousands of dollars.
Monday, March 29th 2010 - 04:25 UTC
China takes the lead position as the world’s main exporter

The World Trade Organization confirmed China's top position in the global markets saying it had now overtaken Germany as the world's top exporter. The United States comes in third on the list behind Germany.