Stories for December 10th 2009
S&P downgrades Spain’s credit outlook to negative from stable
Spain has had its credit outlook cut to negative from stable by the ratings agency Standard & Poor's. The agency said Spain faced a deeper deterioration in public finances and a longer period of economic weakness than it had previously expected.
US extends bail-out fund until October next year “to assist American families”
US Treasury Secretary Timothy Geithner has announced that the 700 billion US dollars financial bail-out fund will be extended until October next year.
Bank of England leaves rates and QE program unchanged
The Bank of England has held UK interest rates at the record low of 0.5% in a widely-expected move. It also announced no changes to its program of pumping newly-created money into the economy - so-called quantitative easing (QE).
UK Chancellor warned about spending cuts and budget deficit targets
United Kingdom Chancellor Alistair Darling was warned he must find £36 billion in new spending cuts if the British Government is to meet its commitment to halve the budget deficit over the next four years.
Weak dollar helps US October exports rise 2.6%, highest level in almost a year
The United States trade deficit unexpectedly narrowed in October as exports rose to their highest level in almost a year, official figures have shown. The deficit fell to 32.9 billion US dollars, 7.6% lower than September's downwardly revised 35.7 billion
Chile denies any plans to work with FOGL in Falklands’ oil exploration
Chile reaffirmed Thursday that the country’s oil corporation Enap has no plans or prospects of exploring for oil in the Malvinas Islands maritime territory or any form of association with Falkland Oil and Gas Limited.
Over 35.000 Carabineros mobilized for Chile’s Sunday election
Chile's police force (Carabineros) this week outlined plans to protect the eight million voters expected to participate in Sunday's presidential election. Over 35,000 officers will be mobilized nationwide to ensure the election takes place smoothly, with Carabineros giving special attention to possible anarchist bomb threats.
Billionaire Piñera favourite to win Chile’s Sunday presidential election
The latest poll published in Santiago just four days before Chileans elect their next president - confirms billionaire businessman Sebastian Piñera as the heads-on favourite to win next Sunday’s vote.
President Obama defended the concept of “just war” at Peace Nobel ceremony
President Barack Obama defended the concept of a just war as he accepted the Nobel Peace Prize in Norway on Thursday. The US leader acknowledged he was a controversial recipient, not least because he is the commander-in-chief of a nation fighting two conflicts overseas.
Idle capacity and low inflation allow Brazil to keep basic rate unchanged
Brazil’s central bank kept the benchmark Selic interest rate at a record low for the third straight meeting as inflation remains below target. The bank’s eight-member board, led by President Henrique Meirelles, voted unanimously on Wednesday to keep the overnight rate at 8.75%.
