Bondholders reject GM - US$27b 'debt for equity' swap fails
A General Motors Corp bankruptcy filing seemed inevitable after a rebellion by its bondholders forced it to withdraw on Wednesday a plan to swap bond debt for company stock. GM has until Monday to complete a government-ordered restructuring that includes...

German inflation rate falls to zero
Inflation in Germany, Europe's biggest economy, has dropped to zero for the first time in 22 years, according to preliminary government figures released Wednesday. The Federal Statistical Office said the inflation rate fell to zero in May from 0.7 per...

US group snaps up Forum Hotel
An American group with Jamaican connections has emerged front-runners to purchase the old Forum Hotel in Portmore, St Catherine. Less than one week after the Urban Development Corporation (UDC) told the Financial Gleaner that it had identified a buyer...

Lotto scammers fleeced US$30 million last year
KINGSTON (AP): Americans sent more than US$30 million to Jamaica last year to claim winnings in a Jamaican lottery. The trouble is, there was no such contest. Despite pressure from the police, scam artists are consolidating Jamaica's status as a new centre...