Stories for July 12th 2012
China, the world's second biggest consumer of fuel, has cut retail oil prices by about 5% with immediate effect. This is the third cut in two months, and some analysts say could be an attempt to increase fuel consumption. Demand for oil fell for the first time in three years in April.
The US Federal Reserve officials are open to the possibility of a new round of asset purchases, though the US economy may need to get weaker before any further action is taken.
An apartment in the Watergate complex, best known for the break-in that brought down President Richard Nixon in the 1970s, has sold for a record 3.1 million dollars, the Washington Post reported Monday.
Venezuelan President Hugo Chávez will seek Congress' approval to hike the 2012 government borrowing cap by about a third to 27 billion dollars to help fund a new pension program ahead of his October 7 re-election bid.
The Paraguayan Supreme Court accepted on Wednesday an unconstitutional appeal against the removal of President Fernando Lugo which requests the annulment of the political impeachment undertaken and voted by Congress.
The world’s number one copper producer Codelco announced it had placed 2 billion dollars in bonds, its largest debt issue to date, aimed at refinancing debt and funding a good part of the miner's 2013 investments.