The Bank of England decided on Thursday to keep interest rates on hold at 5% as it struggles to deal with a slowing economy and spiraling inflation. Many reports have shown the economy heading for a significant slowdown or even a recession.
The European Central Bank (ECB) has kept its interest rate benchmark unchanged at 4.25% amid signs of slowing economic growth. ECB President Jean-Claude Trichet said growth in the 15-nation bloc had been particularly weak in mid-2008.
The Argentine Congress began this week to consider President Cristina Fernandez de Kirchner proposal to re-nationalize Argentina's flag air carrier Aerolineas which until last month was under the control of a Spanish group.
Headlines: Little ones take to the stage; Gallantry awards for RAF men; Jobs 'at risk' as C&W moves 181 service to St Helena; Fuel price increases leading to thefts?
A Chilean court this week upheld a decision fining Shell Oil Company US$676,000 for contaminating beaches three years ago in the northern Chilean city of Antofagasta.
United Nations Secretary-General Ban Ki-moon called Friday on all sides in Bolivia to ensure that Sunday's recall referendum on the President, Vice-President and regional governors is conducted in a peaceful atmosphere.
Paraguay's elected president former bishop Fernando Lugo said he receives a devastated country with no institutions, and claimed there is a plan to destabilize his administration which takes office next August 15.
The Consumer Prices Index in Brazil slowed down to 0.53% in July from 0.74% the previous month, according to a release from the Brazilian Geography and Statistics Institute, IBGE.
Brazil's government managed oil and gas corporation Petrobras signed this week the purchase of ExxonMobil's assets in Esso Chile Petrolera and other associated Chilean companies.
Marine animals known to inhabit the Pacific Ocean may flock to the waters of the Arctic as global warming increases water temperatures, a new study claims.