The oil spill in the Gulf of Mexico continued to shake BP. The firm announced that its unpopular chief executive Tony Hayward would step down on October 1st. Robert Dudley, its American executive director, will replace him. BP reported a loss of $17 bill… more »

After months of tortuous negotiations, Barack Obama signed America's financial-reform bill into law. The legislation grants the government new powers to supervise and break up companies it believes pose a threat to the economy. It also includes the creat… more »

Greece raised €1.6 billion ($2 billion) in six-month treasury bills, its first auction since a bail-out in May. It will pay a 4.65% yield and the sale was oversubscribed. The national debt-management agency was forced to drop plans to auction one-year pa… more »

Agricultural Bank of China, the last of China’s big state-owned banks to float on the stockmarket, raised $19.2 billion in Hong Kong and Shanghai. It could end up being the world’s biggest-ever initial public offering. Investors are betting that AgBank,… more »

The House of Representatives approved the Dodd-Frank bill, which if passed by the Senate will bring in the most sweeping changes to America's financial regulatory system since the 1930s. Negotiations had been completed on ironing out the differences betw… more »

China surprised markets by ending the peg of the yuan to the dollar, a policy that was reintroduced in July 2008 during the financial crisis. The yuan’s movement is still restricted to a rise or fall of no more than 0.5% against the dollar in a single da… more »