Stories for February 2008

Friday, February 8th 2008 - 20:00 UTC
Exxon Wins Freeze on $12 Billion in Venezuela Assets

Exxon Mobil Corp. won court orders in the U.S., U.K., the Netherlands and the Caribbean freezing more than $12 billion in Venezuelan assets amid a battle over the government's seizure of oil projects.
Friday, February 8th 2008 - 20:00 UTC
C. Kirchner invited to London; Falklands unofficial talks?

Argentine president Cristina Fernandez de Kirchner is ready to visit London next April although Buenos Aires press reports indicate that the Kirchner administration would like to see advances in the Malvinas war next of kin humanitarian visit to the Falklands Islands for the inauguration of the Argentine cemetery, before the final decision is taken.
Friday, February 8th 2008 - 20:00 UTC
Rio Tinto, another Argentina/Uruguay dispute brewing

Uruguayan Minister of Public Works and Transport Víctor Rossi accused the Argentine Foreign Affairs ministry of looking for problems “where they don't exist” following an official request for information on the projected construction of a new port by the mining giant Rio Tinto where the river Uruguay and the River Plate meet.
Friday, February 8th 2008 - 20:00 UTC
Fed offensive exposes cut-rates/inflation balance dilemma

United States central bank officials came out in what seems a concerted offensive to inject optimism and downplay fears of a full fledged US recession as negative data on the economy keeps piling and a discouraging factor feeling extends.
Friday, February 8th 2008 - 20:00 UTC
US stimulus package passed but political system at its lowest

United States President George Bush announced on Friday that the will sign a 168 billion US dollars economic stimulus package approved by the Senate that he said is needed to help boost the slowing economy. The announcement came as an AP-Ipso public opinion poll revealed an all time low support for President Bush and the US Congress.
Thursday, February 7th 2008 - 20:00 UTC
Chile ready to announce electricity saving measures

Depleted reservoirs, the recent closure of a major generating plant and an expected consumption surge in March have Chilean authorities concerned about Chile's ability to meet its growing electricity needs.
Thursday, February 7th 2008 - 20:00 UTC
IMF asks Argentina about inflation data reliability

The International Monetary Fund has asked Argentina's statistics office INDEC to clarify some methodology changes it introduced last year, echoing concerns among economists, statisticians --and public opinion-- over the reliability of the country's inflation data, reported the Buenos Aires press
Thursday, February 7th 2008 - 20:00 UTC
Battle of giants for control of world's basic minerals

Rio Tinto, one of the world's largest mining firms rejected on Wednesday a sweetened mega merger bid from BHP Billiton worth 147 billion US dollars. If the two companies had merged, a company would have been created that controlled one third of the world's iron-ore market.
Thursday, February 7th 2008 - 20:00 UTC
UK cuts rate to 5.25% but warns on inflation and slowdown

The Bank of England cut interest rates 0.25 percentage points to 5.25% amid signs that the UK economy is slowing down. Fears over rising prices and balancing growth and inflation made the Thursday cut relatively soft.
Thursday, February 7th 2008 - 20:00 UTC
Multiple factors in '02 collapse of Larsen B shelf say scientists

Two scientists have claimed that climate change was not the only cause of the collapse of a 500 billion tons ice shelf in Antarctica six years ago. The 200 meters thick, 3.250 square kilometers Larsen B shelf broke apart in March 2002.