Oil prices have risen to a record high above $97 a barrel, amid concerns over tight fuel stocks and a weak US dollar.
The chairman and chief executive of the Citigroup bank, Charles Prince, has resigned and will be replaces by former US Treasury Secretary Robert Rubin it was announced.
The United States bank Merrill Lynch said that CEO Stan O'Neal had retired with immediate effect, in a move that followed intense media speculation following calls for his departure after the firm was forced to admit a 7.9 billion US dollars exposure to bad debt.
Billionaire Mukesh Ambani became the richest person in the world, surpassing American software czar Bill Gates, Mexican business tycoon Carlos Slim Helu and famous investment guru Warren Buffett, courtesy the bull run in the stock market.
Magallanes in the extreme south of Chile remains as the region with the lowest unemployment in the country, 3.2% in the July-September quarter. This is considerably less than Chile's 7.7% national average or Greater Santiago's 8%.
China has raised fuel prices by almost 10% in an effort to ease the country's worsening supply crisis. Officials hope the extra revenue will make refiners increase production, easing the long queues and rationing at filling stations.
World markets plunged on Thursday amid renewed fears about the credit crisis, sending shares in finance firms sharply lower. On Wall Street the Dow Jones Industrial Average shed more than 360 points or 2.6%, after two leading banks were downgraded earlier in the day.
The Canadian dollar jumped more than two U.S. cents Friday to a record 107.18 US cents on strong employment data and a rise in oil prices, while the green back resumed its weakness against most major currencies. So far this year the Canadian dollar has appreciated 24% against the US dollar.
In one of his first statements since becoming the IMF new managing director, Dominique Strauss-Kahn said it was time Argentina deals with the issue of its outstanding debt, including to the Paris Club of creditor nations, thus favoring the return of investments to the country.
The number of new jobs created by the United States economy leapt dramatically in October with employers adding 166.000 posts, twice the expected number, reported the Labor Department.