Stories for January 2009
President Alvaro Uribe's hometown newspaper reported Thursday that Colombia's immensely popular leader will not seek a third consecutive term in 2010 elections.
The Government could nationalise private schools hit by the recession by turning them into state-funded academies, it has been reported.
Headlines: St Brandan loses contract Tamar steps in to fill gap; Audit puts hospital on the sick list; Kayaker makes epic journey.
Norway's state investment fund has blacklisted US firm Textron, owner of top plane-maker Cessna, and Canadian mining firm Barrick Gold. The fund, an ethical investor, sold shares in the firms because Textron makes cluster bombs and because of environmental concerns about Barrick.
Anglo-Australian Rio Tinto Group is selling mining assets in Argentina, Brazil and Canada to Brazilian competitor Vale Doce for 1.6 billion US dollars in an attempt to reduce its 39 billion debt load y 10 billion. The group also admitted it was considering a big equity issue.
While bankers and politicians met this week in Davos for the World Economic Forum a rival summit in the Brazilian city of Belem challenged them and blamed the capitalist system for the current global crisis.
Unemployment in the Euro zone countries climbed to 8% in December, the highest in over two and a half years, with the total number of jobless reaching 12.472 million in the Euro zone and 17.911 million in all the 27 EU member states according to a Eurostat study released on Friday
The US economy shrank at an annual rate of 3.8% in the last quarter of 2008, according to the latest report from the US Commerce Department. This is the worst performance of the US economy since 1982.
Secretary-General Ban Ki-moon called on the world's business and other leaders to use the current economic crisis to launch a global Green New Deal that creates jobs and fights climate change by investing in renewable energy and technological development.
The chairman of one of the world's leading banks headquartered in London, HSBC, Stephen Green has said that the current financial rules must be fundamentally revised as they had deepened the financial crisis.