Economy

Friday, May 25th 2012 - 01:16 UTC
UK deeper in recession; IMF recommends more stimuli measures

Britain fell deeper into recession than initially thought in the first quarter of 2012 due to a slump in construction output, raising the likelihood that the Bank will opt to inject more stimuli to protect the economy from the Euro zone debt crisis.
Thursday, May 24th 2012 - 16:44 UTC
Brazil’s current account deficit compensated by heavy FDI during April

Brazil's monthly current account deficit rose sharply in April as the country's trade surplus faded and profit remittances and foreign travel costs increased, the Brazilian Central Bank said Thursday.
Thursday, May 24th 2012 - 16:41 UTC
Outbreak of tick fever kills 22 cattle in Australia; origin of the parasite unknown

Twenty-two cattle have been killed by tick fever in the New South Wales, Australia. Tick fever is caused by a parasite in red blood cells and the only thing that can spread tick fever is cattle ticks, reports Meat trade news daily.
Thursday, May 24th 2012 - 16:27 UTC
China to take measures to boost demand fearing economy slowdown

China has said it will take measures to boost demand and investment amid fears of a slowdown in its economy. The government said it will encourage private investment in sectors such as energy, railways and telecommunications.
Thursday, May 24th 2012 - 05:40 UTC
Uninspired EU summit pledges support for Greece, but prepares for “Grexit”

European Union leaders pledged support for Greece on Thursday, vowing to keep the debt-wracked country in the Euro zone as officials prepared behind the scenes for a possible doomsday scenario of exit.
Thursday, May 24th 2012 - 05:35 UTC
“Blue” dollar in Argentina reaches 6.15 Pesos; 36% gap over official exchange

Wednesday was another day of intense trading for the money exchange market in Buenos Aires with the “blue” or black market dollar reaching a new record, 6.15 Argentine Pesos, which for the first time was higher than the system used for getting dollars out of the country.
Thursday, May 24th 2012 - 05:13 UTC
Glut of pigs in the US and China posed to halt four-year rally in prices

The heaviest and most numerous US pig population on record and rebounding Chinese output are creating a surplus that is poised to halt a four-year rally in prices, reports Meat Trade News daily.
Wednesday, May 23rd 2012 - 19:27 UTC
Falklands’ economy “booming” in spite of Argentina’s efforts of a blockade

Despite desperate attempts from Argentina to deter potential investors and increased interference in Falkland Islands’ activities the objective of an economic blockade has not been achieved, said Governor Nigel Haywood on Wednesday in his ‘state of the nation’ annual speech to the Legislative Assembly.
Wednesday, May 23rd 2012 - 18:38 UTC
Euro-zone tells members to prepare contingency plans for a possible Greek exit

Euro zone officials have told members of the currency area to prepare contingency plans in case Greece quits the bloc, an eventuality which Germany's central bank said would be testing but “manageable”.
Wednesday, May 23rd 2012 - 06:59 UTC
Brazilian Real falls to a new three-year low, “positive” for exporters says minister

The Brazilian Real fell to a new three-year low after briefly erasing its decline as the central bank sold currency swap contracts for the second time in three trading sessions, holding two auctions on Tuesday.