South Africa may need to enforce power cuts or raise electricity prices further if a disputed $3.75bn loan from the World Bank is not approved, according to a senior government official

Standard Bank, Africa’s largest bank by assets, has its roots deep in South Africa, where it was founded in 1862

As financial markets panic about the risks to the euro from laxer governments in southern Europe, the northern Baltic states are already in tight fiscal bandages as they experience Europe’s most severe recession

An upcoming overhaul of the European Union’s budget will keep the bloc’s farm aid system and is unlikely to involve any pan-EU tax, the bloc’s new budget chief said

General Motors Co has posted a $4.3bn net loss from the time of its emergence from bankruptcy in July through the end of the year and said it believes a profit is possible in 2010

Paulson & Co, the hedge fund linked to civil fraud charges against Goldman Sachs Group Inc, moved to head off investor concerns about its role in a deal that has scarred the reputation of the Wall Street bank and overshadowed blow-out quarterly earnings