Wednesday, 19 June 2013 09:51
Italian fashion designers Domenico Dolce and Stefano Gabbana have been handed a suspended prison sentence of one year and eight months for hiding hundreds of millions of euros from the tax authorities.
Business

Italian fashion designers Domenico Dolce and Stefano Gabbana have been handed a suspended prison sentence of one year and eight months for hiding hundreds of millions of euros from the tax authorities.

A bank has begun accepting cattle as collateral for cash loans in Zimbabwe, the Associated Press has reported.

Singapore's central bank censured a record 20 banks after it found more than 100 traders in the city state tried to rig key borrowing and currency rates.

The troubled US city of Detroit has defaulted on its debt payments as it threatened to become the country's largest ever municipal bankruptcy.

The International Monetary Fund has assailed US government spending cuts as "excessively rapid and ill-designed" as it cut the economy's growth forecast for 2014.

Europe's newest passenger jet, the Airbus A350 plane has landed safely after its first test flight.

India’s central bank has intervened to curb the slide of the rupee after it hit record lows.

The US Justice Department has filed a joint lawsuit with Arkansas against oil producer Exxon Mobil Corp over the pipeline spill in March of thousands of barrels of heavy Canadian crude oil in a suburban neighbourhood.

The World Bank has lowered its growth estimate for the global economy in 2013, but said that expansion appeared more stable than just before the 2008 financial crisis.

Facebook Inc, the world's No 1 social network, has announced that it will adopt hashtags, one of the most recognisable features of its younger rival Twitter, in a move to position its web service as an important complement to television, sporting events and breaking news.
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Live Blog: Turkey Protests
Protests at Taksim Square in Istanbul started after trees were torn up to make way for the redevelopment of Gezi Park. ( 16-Jun-2013 )
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