Economy News

HP sales fall short of forecasts

Computer firm Hewlett-Packard sees a drop in first-quarter sales, as it attempts to turn itself around under new chief executive Meg Whitman. full story.

Obama seeks US corporate tax cut

US President Barack Obama proposes a cut in corporate tax and an end to tax loopholes, as part of his election-year strategy on the economy. full story.

Peugeot boosted by alliance talks

Peugeot shares jump 12% after the carmaker confirms it is in talks about possible "co-operations and alliances". full story.

Greek MPs consider bailout laws

Protests take place outside parliament in Greece, as MPs consider emergency laws after a 130bn-euro bailout deal. full story.

Eurozone service sector shrinks

The eurozone's service sector shrinks unexpectedly in February, a survey suggests, increasing fears of a recession. full story.

Heathrow passengers reach record

The number of passengers using BAA's Heathrow airport reached a record last year while losses for the company narrowed, the airport operator says. full story.

France Telecom reports weak 2011

France Telecom plans to slash its payout to shareholders this year after a weak performance in 2011. full story.

Air Asia hit by high fuel costs

Malaysian budget airline Air Asia reports a 56% fall in fourth-quarter profit, hurt by higher fuel costs. full story.

South Korea wins Navy tanker deal

The Royal Navy selects South Korean firm Daewoo for a £452m deal to build four new fuel tankers. full story.

EU court to rule on Acta legality

A controversial anti-piracy agreement is to be referred to the EU's highest court due to concerns surrounding internet freedoms. full story.

Indian call centres 'in US fraud'

Indian call centres were used to swindle millions of dollars out of Americans in a debt collection fraud, say US federal officials. full story.

Hungary may lose EU aid over debt

The European Commission plans to freeze 495m euros of funding for Hungary, lamenting the country's excessive budget deficit. full story.

Nigeria rig 'may burn for months'

A gas-fuelled fire, with flames as high as 5m, may burn for months in waters off the Niger Delta in south-east Nigeria, a Chevron spokesperson tells the BBC. full story.