The global airline industry is expected to post losses of 5.2 billion US dollars this year and another 4.1 billion in 2009, according to the International Air Transport Association (IATA). This year's losses are based on an average crude oil price of 113 US dollars per barrel and 140 US dollars for jet fuel.
The International Monetary Fund (IMF) has agreed a voluntary code of conduct with sovereign wealth funds (SWF). The deal with 26 countries that run investment funds will be put to the IMF members at its October meeting.
The Euro zone economy (EU-15) contracted 0.2% in the second quarter compared to the previous three months according to the latest release from the Eurostat statistics office. As a consequence the Euro fell to its lowest in eight months to 1.4386 US dollars.
Coca Cola the world's largest beverage maker is to buy China's main fruit juice company for 2.4 billion US dollars, the biggest foreign acquisition of a Chinese company. The offer is three times the market value.
The original artwork for The Rolling Stones' iconic lips and tongue symbol has been bought by London's Victoria and Albert Museum.
The Chilean Air Force formally presented last weekend the new presidential aircraft, a Boeing 767-300ER which cost 30 million Euros and will enable Chilean leaders to reach any point in the world.
The British pound has fallen to two-and-half-year low against the US dollar and record low against the Euro amid fears about the health of the UK economy.
French President Nicolas Sarkozy wants Europe to play a stronger role in international financial markets regulation to strengthen governance rules and boost confidence, his office said in a statement on Tuesday.
With Hurricane Gustav on course to hit the US Gulf of Mexico coast, the damage it does to the region's oil facilities could be a worst case scenario.
More than one billion people still lack access to safe drinking water, Secretary-General Ban Ki-Moon said on Monday, calling for greater efforts to achieve the water and sanitation targets set by world leaders in 2000.