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Stories for July 1st 2004

• Thursday, July 1st 2004 - 21:00 UTC

  Australia arms vessel to combat toothfish poaching.

  Australian authorities have fitted an Antarctic research ship with machine guns in a bid to increase efforts to deter Patagonian toothfish poachers in the Southern Ocean.

• Thursday, July 1st 2004 - 21:00 UTC

  Federal Reserve raises interest rate to 1,25%.

  Stating that the “risks to the attainment of both sustainable growth and price stability for the next few quarters are roughly equal”, the United States Federal Reverse Open Market Committee announced this Wednesday, after two days of deliberation that it decided to raise its target for the federal funds rate by 25 points to 1,25%. Rates were at its lowest since 1958.

• Thursday, July 1st 2004 - 21:00 UTC

  Brazil's GDP expanded 2,7% in Q1.

  Brazil's GDP expanded 2,7% during the first quarter of 2004 compared to the first quarter of 2003 confirming the economic recovery tendency of the country's economy reports the Brazilian Geography and Statistics Institute, IBGE. According to IBGE, Brazil's GDP in the first quarter of 2004 reached 124,3 billion US dollars, that is 1,6% expansion over the last quarter of 2003.

• Thursday, July 1st 2004 - 21:00 UTC

  Lula and his administration loosing ground.

  Brazilian president Luiz Inacio Lula da Silva and his administration continue to loose ground in the latest public opinion polls released this week in Brazil.

• Thursday, July 1st 2004 - 21:00 UTC

  Save electricity?if not blackouts.

  China has launched a massive national campaign to save electricity and avoid waste which includes raising air conditioners temperature and warnings of supply cuts to hotels that do not comply.

• Thursday, July 1st 2004 - 21:00 UTC

  Unemployment figure surprises Chile.

  An unexpected raise in the national unemployment rate reaching 9,4% in the March-May quarter surprised Chilean authorities and market analysts who were expecting a slight decline closer to 8,8%. The 9,4% index represents a 0,7% increase over the previous quarter and 0,6% over the same period in 2003.