Stories for October 2007

Friday, October 26th 2007 - 20:00 UTC
UK remains vulnerable to fallout from credit crunch

The United Kingdom remains vulnerable to further fallout from the recent credit crunch that has gripped world markets, a Bank of England report warns. BoE said British sub-prime borrowers could encounter problems obtaining credit because banks faced higher borrowing costs.
Friday, October 26th 2007 - 20:00 UTC
China rolls on at 11.5% soon to become third largest economy

China's booming economy has grown by 11.5 percent in the third quarter, slightly less that the 11.9% of the previous quarter. Beijing efforts to slow the rapid expansion. The continued growth has put China on track to surpass Germany as the world's third largest economy, by as early as December.
Friday, October 26th 2007 - 20:00 UTC
Stora-Enso is closing three paper mills and cutting 1.700 jobs

The Finnish-Swedish forest products group Stora Enso reported Thursday a third quarter loss and announced plans to cut production by closing mills in Finland and Sweden which will mean the loss of 1.700 jobs.
Friday, October 26th 2007 - 20:00 UTC
P. Arenas Methanex blames poor performance on Argentina

Canada's Methanex Corportion blamed its poor performance during the third quarter to the serious natural gas restrictions from Argentina which means its main methanol plant in Punta Arenas is working at 25% of its potential.
Friday, October 26th 2007 - 20:00 UTC
Chavez blames US foreign policy for soaring oil prices

Venezuelan President Hugo Chavez said U.S. foreign policy is in part responsible for soaring oil prices and predicted that crude will continue its upward spiral rapidly closing in on the 100 US dollars per barrel benchmark.
Friday, October 26th 2007 - 20:00 UTC
Polls unanimous: four more years of Kirchner dynasty

Argentina's First Lady Cristina Fernandez de Kirchner is set to win Sunday's presidential election according to all the public opinion polls published in the Buenos Aires media a few hours before the two days ban on political campaigning becomes effective.
Friday, October 26th 2007 - 20:00 UTC
Argentina's finances and spending on the electoral trail

It's electoral time and Argentina's government spending has reached a 24% of GDP, which is considered a record and several points ahead of the vilified administration of former president Carlos Menem, 21% at its peak, and who has been blamed for much of Argentina's recent shortcomings, points out the Buenos Aires press.
Friday, October 26th 2007 - 20:00 UTC
Argentina's heterodox mix of policies still “unconvincing”

Financial investors feel disappointed with President Nestor Kirchner's administration and are demanding fiscal and monetary policies corrections to dominate inflation and ensure sustained growth before they begin to consider putting money into Argentina's sovereign bonds at reasonable rates.
Friday, October 26th 2007 - 20:00 UTC
Chilean coastal fishermen protest depletion of hake

Chilean fishermen used public debates in the coastal town of Valparaiso Wednesday as a forum to criticize Chile's fishing policies. The debates, titled “Who sells you fish,” focused on the current depletion of the hake population along Chile's coasts.
Friday, October 26th 2007 - 20:00 UTC
“The Sweet Toast of New York” ( and Rio...and Sao Paulo...and Tokyo)

This month, Payard PÃÃ‚Â¢tisserie & Bistro celebrated their 10th Anniversary with a “tasty” party of New York's “A List” guests. It is not surprising that this wonderful French pÃÃ‚Â¢tisserie and bistro still is, after 10 years, unique and the preferred destination for all of those who have not only a sweet tooth, but also a discerning palate.