Stories for July 2nd 2009
US jobless rate in June 9.5%; 14.7 million unemployed
The number of jobs lost in the US last month came in at 467,000, which was much more than had been expected. The jobless rate rose to 9.5% in June, from 9.4% in May, as the US economy continued to struggle.
European Central Bank implements “liquidity infusion”
The European Central Bank’s, ECB, kept its key rate unchanged at 1% for another month following their regular meeting. But at a news conference on Thursday ECB president Jean-Claude Trichet said he was pleased with the first results of the “liquidity infusion” to the banking system.
May unemployment in Euro zone, 9.5% and 8.9% in European Union
The unemployment rate in the 16-nation Euro zone jumped to 9.5% in May, the highest in 10 years, as the economies in the region continued to grapple with deepening recession. For the 16 countries sharing the common currency Euro, the jobless rate is the highest since May 1999.
UK concedes pandemic can’t be contained and changes to “new treatment”
The rising numbers of A/H1N1 virus flu cases mean trying to contain the virus is no longer an option says the British government says, reports BBC.
Featured Analysis
IMO to Consider Ban on Heavy Fuel Oil in Antarctic Waters
Earlier this week we published the position of CLIA, Cruise Lines International Association on some of the possible effects of the heavy fuel oil ban in Antarctic water for the industry, if the initiative is passed and approved by the International Maritime Organization.
Uruguay’s primary election results stun the ruling coalition
Uruguay’s main opposition party performed much better than anticipated according to official results of last Sunday’s primary elections for the nomination of presidential candidates for October’s elections.
YPF/Petrobras/GALP to explore for oil in Uruguayan waters
A consortium made up of YPF/Repsol, Petrobras Uruguay and GALP from Portugal has won a bid to explore for oil in two offshore blocks near the coast of Uruguay, according to industry reports late Wednesday.
Honduran interim president rejects OAS ultimatum
Honduran interim president Roberto Micheletti rejected Wednesday an ultimatum from American governments to reinstate ousted leader Manuel Zelaya to the presidency. The ongoing political crisis has sparked new protests in the capital Tegucigalpa which is under military curfew.
Conservative, pro business president takes office in Panama
Ricardo Martinelli, the multimillionaire owner of a supermarket chain, was inaugurated as president of Panama on Wednesday. National Assembly President Jose Luis Varela performed the swearing-in and placed the presidential sash on Martinelli, a pro-business conservative who in May defeated a candidate from the ruling center-left party.
Brazilian inflation seems under control; further rate cuts expected
Brazil’s government set its inflation target for 2011 at 4.5%, seeing no evidence of significant inflationary pressures going forward. May consumer price inflation or IPCA, was 0.47%, and 5.2% in the last twelve months and is expected to have slowed down further during June.
