Stories for January 2008

Thursday, January 31st 2008 - 20:00 UTC

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.

Thursday, January 31st 2008 - 20:00 UTC

Chilean Conservatives will preside over Congress in 2009

Chilean Congress building

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.

Thursday, January 31st 2008 - 20:00 UTC

FBI and SEC probe into the sub prime mortgage crisis

Chilean Congress building

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.

Thursday, January 31st 2008 - 20:00 UTC

Falklands waiting for majestic QE2 on her final world cruise

Q2 leaving Montevideo port in her last call

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.

Thursday, January 31st 2008 - 20:00 UTC

Argentine pickets act as “border patrol and issue passports”

Road close: Pickets acting as a border police, "issuing 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.

Thursday, January 31st 2008 - 20:00 UTC

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.

Thursday, January 31st 2008 - 20:00 UTC

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.

Thursday, January 31st 2008 - 20:00 UTC

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.

Thursday, January 31st 2008 - 20:00 UTC

UK unveils plan to prevent repeat of a Northern Rock run

BoE will demand more information from banks on their  financial health

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.

Thursday, January 31st 2008 - 20:00 UTC

Castro brothers softly consolidating transition in Cuba

Fidel's brother Raul Castro

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.

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