The world's smallest republic is facing financial catastrophe after Australia decided to close a detention centre for asylum seekers that was the lifeblood of its economy.

Added: 2008-03-13

Tough times for Nauru as money runs out

Category: varial news

Lachlan Murdoch withdraws bid for Consolidated Media

Rupert Murdoch's eldest son, Lachlan, has abandoned plans to buy Consolidated Media Holdings, Australia's second-largest media company, for A$3.2bn (£1.48bn) after his partners reportedly failed to agree on a price.

Federal Reserve staff move into offices of investment banks to monitor activities

The US Federal Reserve has sent staff into some of Wall Streets biggest firms and its New York branch is gathering evidence on key traders activities as Americas central bank raises its scrutiny of risk to an unprecedented level.

Parmalat founder Calisto Tanzi stays at home as

The principal trial of those involved in the collapse of Parmalat, the Italian food and dairy giant, began in Parma yesterday, but without Calisto Tanzi, the group's 70-year-old founder, appearing in court.