Stories for August 24th 2007
Mortgage expert forecasts US housing downturn recession
Countrywide Financial Corp Chief Executive Angelo Mozilo said on Thursday the U.S. housing downturn is likely to lead the country into recession, but that the largest U.S. mortgage lender will survive.
Japan leaves key interest rate unchanged at 0.5%
The Bank of Japan decided Thursday to keep its key interest rate unchanged at 0.5% for the sixth month in a row.
Shanghai's market breaks through the 5.000 points benchmark
While Wall Street closed Thursday trading down 0.4% and the Federal Reserve pumped an additional 17 billion US dollars in China the stock market capped a bull run, with the Shanghai Composite Index hitting 5,000 points for the first time while Hong Kong shares rallied to a three- week high.
China/US trade and export safety dispute tension heightens
China accused the United States on Thursday of becoming increasingly protectionist, as it hit back following a wave of high-profile trade disputes and export safety scandals.
Falkland Islands: Weekly Penguin News update
Headlnes:
Cherie takes first Status pledge; Smiles abound as kids make the college grade; West ferry terminal uncertainty remains; 'Jail break' investigation.
UK: Foot-and-mouth zones to be lifted today
The protection zones around two farms at the centre of the foot-and-mouth outbreak will be lifted at noon.
Limited supplies make wheat prices reach record highs
Wheat prices hit record highs this week. Bad weather in key grain growing areas such as Canada and parts of Europe has limited supplies as demand has risen, sparking fears of a supply shortfall and threats of rising bread prices.
Energy shortages punish Argentine July industrial production
Argentina's July industrial production grew 2.7% over the same month a year ago and actually declined 2.1% compared to June 2007 because of the energy crisis which forced many factories to reduce production, according to the latest release from the country's Statistics and Census Office, Indec.
Kirchner official says no “transparent” inflation index until November
Argentina's cabinet chief Alberto Fernandez promised union leaders on Friday that the controversial Consumer Prices Index, CPI, will be “transparent” as of next October because the government is intent on ensuring the chances of presidential candidate Cristina Fernandez de Kirchner, reports La Nacion.
British Airways and Korean Air Lines fined for price fixing
British Airways Plc and Korean Air Lines Co pleaded guilty in US court this week to a global price-fixing conspiracy and were each fined 300 million US dollars.
