The Bank of Japan has cut its main interest rate from 0.5% to 0.3% - its first reduction for seven years. The move followed a global wave of rate cuts to contain the financial crisis. Japan has the lowest interest rates in the developed world.
European inflation edged down in October according to data released Friday helping to pave the way for the European Central Bank to deliver another hefty rate cut next week.
Iron ore miners face the prospect of the first price cut in seven years as steel production in China and elsewhere plunges amid the global downturn. The iron ore market has turned from a seller's market to a buyer's market, according to traders
Air Comet which has been flying to Punta Arenas in the extreme south of Chile since December 2004 will cease to operate in the area after having reached a commercial and operational alliance with Sky Airline.
Unemployment in Chile's extreme south region of Magallanes remained almost unchanged during the third quarter confirming it as the lowest in the country with 1.7%, compared to the national average of 7.8%.
Argentina Economy Ministry sources reacted angrily to a debt ratings downgrade by Standard & Poor's on Friday saying it was another mistaken decision. S&P downgraded Argentina's foreign-currency rating to B- from B.
BT has been forced to pay the UK Ministry of Defence £1.3m in compensation after some of its staff met call-answering targets by phoning each other. The Audit Commission found they fixed figures to help the company avoid fines for not answering calls quickly enough.
The International Monetary Fund (IMF) is creating an emergency fund for emerging market economies to help them weather the global credit crisis. The Group of 24 developing countries, which includes nations from Latin America, Asia and Africa, had requested such a development earlier this month.
The US Federal Reserve agreed on Wednesday to provide 30 billion US dollars each to the central banks of Brazil, Mexico, South Korea and Singapore, expanding its effort to unfreeze money markets to emerging nations for the first time.
The United States economy shrank at an annualised rate of 0.3% between July and September, according to figures from the Commerce Department. GDP figures were better than expected, although they show the sharpest contraction of the economy since 2001.