Bad weather, violent conflict and volatile market prices could force a drop off in the global production of cereal crops this year, the United Nations Food and Agricultural Organization (FAO) predicted Thursday after already warning that some one billion people worldwide are going hungry.
Treasury Secretary Timothy Geithner has unveiled a comprehensive bank bail-out plan worth at least 1.5 trillion US dollars. Under the plan, the size of a key Federal Reserve lending program will be expanded to 1 trillion from 200 billion.
Visiting Argentine president Cristina Fernández de Kirchner and Spanish president Jose Luis Rodriguez Zapatero, admitted on Tuesday difficulties in the economic relations but emphasized that bilateral relations are excellent.
China's exports fell more than expected in January, down 17.5% from a year earlier, while imports plunged 43.1%, , as China's economy continued to be hit by the global economic slowdown.
The former head of risk at Britain's HBOS, who claimed he was sacked for warning about the bank's too-rapid growth, has said he stands firmly and confidently behind his allegations.
United Kingdom jobcentres were said to be creaking under the pressure of work as new figures showed unemployment surging to a 10-year high. The jobless total reached 1.97 million, confounding many experts who had predicted it would break through the two million barrier.
China car sales topped the US for the first time last January totalling 735,500, a 14% drop, the China Association of Automobile Manufacturers said on Tuesday in an e-mailed statement today. That compares with a 37% plunge to 656,693 in the US, the world's largest auto market last year.
Former bosses at bailed-out banks Royal Bank of Scotland (RBS) and HBOS have said they are profoundly sorry and admitted they under-estimated the extent of the financial crisis.
United States Agco Corp. warned that industry-wide farm-equipment sales in South America could fall by almost a third this year due to drought and tough credit conditions.
Chile's trade surplus plunged 70% to 667 million US dollars during January compared to the previous month according to the latest release from the Central Bank. This also compares negatively with the 2.3 billion US dollars of the same month a year ago.