The Federal Reserve left US interest rates un changed between 0% and 0.25% describing the current situation as “levelling off” although economic activity is “likely to remain weak for a time”.
The percentage of US homeowners who owe more than their house is worth will nearly double to 48% in 2011 from 26% at the end of March, portending another blow to the housing market, Deutsche Bank said on Wednesday.
The United States has won a ruling at the World Trade Organisation (WTO) against China's restrictions on the import of American DVDs and other media products.
The United States economy has hit the bottom and the current quarter will see positive growth because of the government's stimulus spending, according to billionaire financier George Soros.
The recession in the United Kingdom has claimed another 220,000 jobs in the three months to June to take the total number of unemployed to 2.43 million, official figures have revealed.
Annual profits at mining giant BHP Billiton have more than halved after demand for commodities slumped. The company has more than 100 operations across the world, including South America and the Falkland Islands.
The British group which manages InterContinental Hotels, Crowne Plaza and Holiday Inn revealed that it plunged into losses in the first six months of 2009 and forecast a tough second half as the recession keeps business travellers at home. That compares with a net profit of 163 million dollars in the same part of 2008.
Venezuelan President Hugo Chavez received on Tuesday Argentine President Cristina Fernandez de Kirchner in Caracas to sign agreements expanding trade between the two countries. Among the deals was an accord to import as many as 10,000 cars from Argentina this year instead of Colombia.
The Argentine Football Federation Executive Committee agreed Tuesday to end the contract that for two decades had united AFA with television company Televisión Satelital Codificada, owner of the television rights for Argentina’s soccer.
New economic figures show that China's export-geared economy still has weaknesses, but is showing signs of recovery. Still, there are warnings that much of the gain is dependent on government stimulus spending.