International
InternationalKuwait sovereign fund also interested in Repsol-YPF
The Kuwait Investment Authority, KIA, could rival a bid by Russian oil company Lukoil for the 20% stake in the Spanish oil corporation Repsol.YPF, according to the Finmarket website, which was published in Madrid's ABC newspaper.
Oil tumbles to 47 USD; call for Russia & Norway to join OPEC
While oil skidded to its lowest level since May 2005 in New York on Tuesday, the head of OPEC (Organization of Petroleum Exporting Countries) said he hopes oil producing nations like Russia will join the organization, or at least agree to output cuts to help spark a rally in prices.
Unemployment up is Spain: almost 3 million jobless
The number of people filing for jobless benefits in Spain soared to almost 3 million following a 6% rise in unemployment during November. The Labour Ministry said Tuesday that an additional 171,243 people signed on for unemployment benefits last month, bringing the total to 2.99 million.
Japan imports whale meat from Iceland; first time in 17 years
Japan has bought whale meat from Iceland, the first time in 17 years it has imported the banned meat, according to a Saturday report from Kyodo News agency.
UK manufacturing slowdown continues to take hold
British manufacturing fell at a record pace in November as the slowdown continued to take hold, the latest figures have revealed.
World economy heading for first contraction since 1930, warns UN
United Nations said on Monday the world economy faces its worst downturn since the Great Depression. It expects world economic output to shrink by as much as 0.4% in 2009, due to a slump among developed countries - particularly the US and in Europe.
UK state-control banks mellow home repossession actions
Britain's Royal Bank of Scotland has announced that it will give struggling homeowners at least six months before launching repossession action. The NatWest parent said it was doubling the three-month breathing space currently offered to borrowers who fall behind with mortgage repayments.
Parliament awaits statement on MP's office police raid
United Kingdom Justice Secretary Jack Straw has appeared to indicate that ministers had been “surprised” by the nature of the raids on Tory frontbencher Damian Green's homes and offices.
Socialists call for return to EU founding fathers' spirit
The new French Socialist leader Martine Aubry defended a strong economic stimulus program “to help the weakest” based on the Social-democrat model because “communism died twenty years ago, and neo-liberalism just two months ago”.
UK has no plans to join the Euro, says PM Brown's office
The British government has denied a shift in policy on the Euro after the European Commission's president said the UK was “closer than ever before” to joining.
