Former AIG boss, Robert Benmosche, dies at 70

Former AIG chief executive officer and president Robert Benmosche has died at NYU Langone Medical Center.

German consumer price index above forecast in February

German preliminary consumer price index (CPI) inflation rose 0. 1% year-on-year in February, compared with expectations of a 0. 3% contraction and after a 0. 4% decline in January.

US GDP falls from 2.6% to 2.2% in the fourth quarter

US gross domestic product in the fourth quarter fell to 2. 2% from a 2. 6% in the previous quarter, but above analysts' expectations of a 2. 0% reading.

German parliament approves 4-month extension to Greece's bailout

The German parliament has approved a four-month extension to Greece's bailout.

Rio Tinto streamlines group structure to cut costs, splits up energy division

Diversified mining group Rio Tinto has announced plans to streamline its product groups and corporate functions, dividing up its energy division as it looks to cut costs and simplify its structure.

German seven-year yields move into negative territory

German seven-year government bond yields moved into negative territory on Thursday morning.

Quindell rises on rumours of full takeover by Slater Gordon

Shares in insurance outsourcer Quindell advanced further on Wednesday after rumours grew louder that Australian law firm Slater & Gordon (SGH) was contemplating a full takeover.

Costa owner Whitbread expects annual results at top end of forecasts

Hospitality group Whitbread said it expects full-year results to come in at the top end of expectations after a strong fourth quarter from its Premier Inn and Costa brands.

Morrisons names former Tesco Asia head David Potts as new CEO

Big Four supermarket chain Wm Morrison has named the former head of Tesco’s Asian business as its new chief executive officer (CEO).

FTSE 100 sets new record high, passing December 1999 peak

London’s FTSE 100 surged to a new all-time high on Tuesday afternoon, surpassing the previous record reached amid the dotcom bubble at the end of 1999.

Yellen hints at plans for dropping 'patient' from Fed's statement

Federal Reserve Chairwoman Janet Yellen told the Congress the Federal Reserve was making plans to drop the word “patient” from its statement.

Greece will send reform plans to Eurozone finance ministers on Tuesday morning

HSBC reports 17% drop in annual pre-tax profit

HSBC has reported a 17% drop in pre-tax annual profit to $18. 68bn, after the lender was hit by fines for its involvement in the foreign exchange rigging scandal.

Greece bailout will be extended for 4 months

Austria’s finance minister Hans Jörg Schelling said the Eurozone approved a four-month extension on Greece’s bailout, subject to Athens submitting details on the reform and budgetary measures it plans to take by Monday.

Eurogroup foresees 4-month extension to Greek bailout

Eurozone leaders agree on draft accord that could extend Greek bailout

Eurozone ministers gathered in Brussels have agreed a draft accord with Athens that could extend the Greek bailout, according to a Greek government official.

ECB says some members voted against QE package

Some members of the European Central Bank (ECB) voted against the quantitative easing programme in January, according to first minutes published by the monetary authority.

Fed minutes show no rush to raise interest rates

The number of Federal Reserve officials leaning toward keeping rates at zero "for a longer time" was higher than that of those who wanted to raise interest rates.

Torrance ExxonMobil Refinery bursts into flames following large explosion

The Torrance fire department rushed to quell flames from a large explosion at the ExxonMobilRefinery after residents heard the explosion reported tremors on Wednesday morning.

BoE's MPC voted unanimously to keep policy unchanged, minutes show

The Bank of England's Monetary Policy Committee voted to keep its policy unchanged at its 5-6 February meeting, minutes revealed on Wednesday.