latest world business news

Stranded air passengers have spent the night at airports in Paris and Brussels after freezing weather severely disrupted Christmas travel. Some 200 people slept overnight at Charles de Gaulle airport in Paris , which cancelled 400 flights because of snow and ice . Flights and trains were also disrupted in Belgium , where significant snow fell overnight, and in Germany . Conditions were expected to ease throughout Christmas Day. Airport managers described the extremes of snow and ice at the airport as "exceptional". Problems were made worse on Friday as a strike by workers at France's main anti-freeze factory disrupted crucial supplies. Those left at Charles de Gaulle airport overnight were given camp beds and blankets as they saw in Christmas inside the terminal building. Junior transport minister Thierry Mariani visited exhausted travellers at the airport just before midnight, seeking to explain the situation to would-be passengers. "Since Roissy [...

An Indian space rocket carrying a communications satellite has exploded on take-off. Live TV footage showed the rocket disappearing in a plume of smoke moments after its launch in Sriharikota near the city of Chennai (Madras). India's space organisation said it was investigating the cause of the failure. India is seeking to increase its share of the growing commercial satellite launch market, and says it wants to send a manned mission in space in 2016. India's Geostationary Satellite Launch Vehicle (GSLV) was carrying the GSAT- 5P communication satellite when it exploded in the first stage of the flight on Saturday, December 25, 2010. "The performance of the (rocket) was normal up to about 50 seconds. Soon after that the vehicle developed large altitude error leading to breaking up of the vehicle," the head of the Indian Space Research Organisation, K Radhakrishnan, told reporters. "But what caused this interruption has to be studied in detail....

West Midlands-based firm Tarmac Building Products Ltd is to cut 550 jobs and close one of its divisions due to "tough market conditions". The firm, which is based in Wolverhampton, said it planned to close its precast solutions and flooring arm. It said 217 jobs would be lost in Tallington, Lincolnshire and 106 in Henlade, Somerset. The remainder are to go in Derby, Lound in Nottinghamshire and Dolyhir in Powys, Wales. A company spokesman said it was consulting with staff and unions over the plans to cut 500 full-time staff and 50 agency employees . The company blamed tough trading conditions and uncertain market demand. "This affects five sites across the UK and, unfortunately, means that around 550 people are at risk of redundancy," the spokesman said. "We are very conscious of the impact this will have on our employees, their families and the local communities around our sites if the closure goes ahead. "It is not a decision we have ta...

Shares in Randgold Resources have fallen 4% after the mining company warned political tension in the Ivory Coast would hit its gold production. Randgold said its Tongon mine was operating, but on a "curtailed basis". At least 173 people have been killed in the Ivory Coast following last month's disputed election. Randgold now expects to produce about 35,000 ounces of gold this year.   A second mill had been delayed because delivery of components had been held up in the Abidjan port and by shipping delays caused by the political crisis. The company also said its fourth-quarter performance would be affected by a "below-target" contribution from its Loulo complex in Mali. "We knew that 2010 was going to be a challenging year and the fourth quarter is turning out to be even tougher than anticipated," chief executive Mark Bristow said. Randgold shares fell 235p to 5,320p in morning trading.

The West African regional bloc Ecowas has told incumbent Ivory Coast President Laurent Gbagbo to stand down or expect to face "legitimate force". Ecowas said after its summit in Abuja, Nigeria, that it would send an envoy to the country to meet Mr Gbagbo. It would also convene a meeting of defence ministers to plan military action if he refused to back down, it said. Before the talks, Nigerian Foreign Minister Odein Ajumogobia ruled out a power-sharing arrangement between the rivals like those set up in Kenya and Zimbabwe following disputed elections. The BBC's Thomas Fessy in the main city Abidjan says the pressure from Ecowas has not come as a surprise, and means that Mr Gbagbo is now definitely boxed in on all sides. The Ecowas chairman, Nigerian President Goodluck Jonathan , has already written personally to Mr Gbagbo to ask him to step down, and offered him refuge. There have been suggestions that member nations send in troops to strengthen the presen...

Indian border guards Border Security Forces (BSF) have shot dead a Bangladeshi youth at Hatibandha Upazila under Lalmonirhat District of Bangladesh today (December 25, 2010). Witnesses said Saifur Rahman, 22, a cattle trader and resident of Dakkhin Gotamari village at the Upazila fell victim to BSF firing while returning home from India around 6.30am on Friday. Earlier, a Bangladeshi national named Abdur Rashid, 35, son of Abu Chan Miadead was killed on Balapara frontier in Dimla upazila of Nilphamari District of the country in the early hours on December 17, 2010. Mentioned that, Mr. Saifur Rahman is the 4th victim of Indian BSF after the killing of Chapainawabganj, Jessore and Nilphamari within the last 15 days.  Lalmonirhat 31 Rifles Battalion deputy commander Maj Shafique Uddin said Safiur died on the spot as the Indian border guards fired shots on him near Daikhawa camp of Bangladesh border guards. He said: "The body was taken away by the BSF personnel. BDR have sent...

Taking part in an open discussion, Odhikar general secretary Atikur Rahman Khan said BSF is killing one Bangladeshi in every four days. Human rights group Odhikar and Human Rights Watch at a press conference at BRAC Centre on December 13, 2010 revealed a report on killing, abuse and torture by the Border Security Force (BSF) of India along the border. About 1,000 Bangladeshis were killed by Indian Border Security Forces (BSF) over the last decade, according to a report released by rights groups in the capital city Dhaka in Bangladesh on December 13, 2010. Apart from the killings, the report says, the Indian border guards usually threaten, abuse and beat Bangladeshi people living in frontiers villages, but they hardly get any cooperation from Bangladesh police. "It's a gross violation of human rights." The report was prepared based on statements of victims, witnesses, journalists, human rights workers, law enforcement officials and members of BSF and BDR. The re...