Stories for January 2008
US economy and consumer confidence weakening rapidly
United States economic growth fell sharply in the last three months of 2007 as the credit crunch took effect, according to the latest figures from the Department of Commerce. Overall growth rate in 2007 was 2.2%, the weakest since 2002.
Chilean Conservatives will preside over Congress in 2009
For the first time in half a century a right wing Deputy will become speaker of the Chilean Lower House following an agreement between the ruling coalition and the opposition conservative alliance.
FBI and SEC probe into the sub prime mortgage crisis
The FBI is investigating at least fourteen companies embroiled in the sub-prime mortgage crisis as part of a crackdown on improper lending and inside information according to The Wall Street Journal.
Falklands waiting for majestic QE2 on her final world cruise
The world-famous Queen Elizabeth 2 passenger liner on her final world cruise left Montevideo on Wednesday and is expected to call in the Falkland Islands on Friday. It was her tenth and last call to Montevideo.
Argentine pickets act as “border patrol and issue passports”
Uruguayan officials reacted with dismay and indignation when it was confirmed that Argentine pickets are extending special “neighbor passes” to those wishing to cross a bridge linking the neighboring countries and which has been blocked in protest over the construction of a pulp mill in Uruguay.
Petrobras after Exxon's downstream assets in S. America
Brazil's government managed Petrobras will bid strongly for Exxon's downstream assets in South America, O Globo newspaper reported this week from Rio do Janeiro.
Argentina reopens export registries for wheat and corn
Argentina announced this week the reopening the wheat and corn export registries, a measure that had an immediate impact in the US markets of Chicago and Kansas City.
Australia preparing to plant bumper wheat crop in 2008
High prices around the world are encouraging farmers to plant more grain and Australia is preparing to plant a bumper wheat crop in 2008 following last year's disastrous drought that drastically slashed yields.
UK unveils plan to prevent repeat of a Northern Rock run
The British government unveiled plans this week to give authorities the power to swiftly seize control of a failing bank as part of an overhaul of banking laws to prevent a repeat of the run on mortgage lender Northern Rock PLC.
Castro brothers softly consolidating transition in Cuba
The younger brother of ailing long time Cuban leader Fidel Castro, acting President Raúl Castro was the top vote-getter in Cuban parliamentary elections, according to official results released Wednesday.
