Stories for August 24th 2007

Friday, August 24th 2007 - 21:00 UTC
Mortgage expert forecasts US housing downturn recession

Countrywide Financial Corp Chief Executive Angelo Mozilo said on Thursday the U.S. housing downturn is likely to lead the country into recession, but that the largest U.S. mortgage lender will survive.
Friday, August 24th 2007 - 21:00 UTC
Japan leaves key interest rate unchanged at 0.5%

The Bank of Japan decided Thursday to keep its key interest rate unchanged at 0.5% for the sixth month in a row.
Friday, August 24th 2007 - 21:00 UTC
Shanghai's market breaks through the 5.000 points benchmark

While Wall Street closed Thursday trading down 0.4% and the Federal Reserve pumped an additional 17 billion US dollars in China the stock market capped a bull run, with the Shanghai Composite Index hitting 5,000 points for the first time while Hong Kong shares rallied to a three- week high.
Friday, August 24th 2007 - 21:00 UTC
China/US trade and export safety dispute tension heightens

China accused the United States on Thursday of becoming increasingly protectionist, as it hit back following a wave of high-profile trade disputes and export safety scandals.
Friday, August 24th 2007 - 21:00 UTC
Falkland Islands: Weekly Penguin News update

Headlnes:
Cherie takes first Status pledge; Smiles abound as kids make the college grade; West ferry terminal uncertainty remains; 'Jail break' investigation.
Friday, August 24th 2007 - 21:00 UTC
UK: Foot-and-mouth zones to be lifted today

The protection zones around two farms at the centre of the foot-and-mouth outbreak will be lifted at noon.
Friday, August 24th 2007 - 21:00 UTC
Limited supplies make wheat prices reach record highs

Wheat prices hit record highs this week. Bad weather in key grain growing areas such as Canada and parts of Europe has limited supplies as demand has risen, sparking fears of a supply shortfall and threats of rising bread prices.
Friday, August 24th 2007 - 21:00 UTC
Energy shortages punish Argentine July industrial production

Argentina's July industrial production grew 2.7% over the same month a year ago and actually declined 2.1% compared to June 2007 because of the energy crisis which forced many factories to reduce production, according to the latest release from the country's Statistics and Census Office, Indec.
Friday, August 24th 2007 - 21:00 UTC
Kirchner official says no “transparent” inflation index until November

Argentina's cabinet chief Alberto Fernandez promised union leaders on Friday that the controversial Consumer Prices Index, CPI, will be “transparent” as of next October because the government is intent on ensuring the chances of presidential candidate Cristina Fernandez de Kirchner, reports La Nacion.
Friday, August 24th 2007 - 21:00 UTC
British Airways and Korean Air Lines fined for price fixing

British Airways Plc and Korean Air Lines Co pleaded guilty in US court this week to a global price-fixing conspiracy and were each fined 300 million US dollars.