Stories for July 2008

Sunday, July 13th 2008 - 21:00 UTC
US government bails out mortgage finance companies

The United States government has announced sweeping measures to shore up the nation's two largest mortgage finance companies, Freddie Mac and Fannie Mae.
Sunday, July 13th 2008 - 21:00 UTC
Argentina: all set for Tuesday's rallies force-demonstration

The Argentine government/farmers stand off over export taxes has scheduled a new demonstration of force next “Super” Tuesday when the presidential Kirchner couple government faithful, and farmers with city supporters, will be out on the streets of Buenos Aires in two simultaneous, but 50 blocks away separate rallies.
Saturday, July 12th 2008 - 21:00 UTC
US trade deficit falls in May; oil imports lowest since 2002

The United States trade deficit shrank in May even when average prices for imported oil surged during the month to a record, according to a US Department of Commerce release on Friday. The deficit narrowed to 59.8 billion US dollars from 60.5 billion in April as both exports and imports rose to record highs.
Saturday, July 12th 2008 - 21:00 UTC
Cubans must prepare for “realistic” brand of communism

President Raul Castro warned Cubans on Friday to prepare for a “realistic” brand of communism that is economically viable and does away with excessive state subsidies designed to promote equality on the island.
Saturday, July 12th 2008 - 21:00 UTC
Latam must double investment in infrastructure

In the immediate future, Latinamerica must invest between 150 and 200 billion US dollars a year in infrastructure in order to boost economic growth and reduce poverty, World Bank Vice President, Pamela Cox said in Lima, Peru.
Saturday, July 12th 2008 - 21:00 UTC
PM Brown urged to discuss Falklands issues with Kirchner

A FOREIGN Affairs Select Committee has urged the Prime Minister to pin down the Argentine president about concerns relating to the Falklands when the visit by President Kirchner, which was cancelled earlier this year, is rearranged.
Saturday, July 12th 2008 - 21:00 UTC
US government moves into collapsed top mortgage lender

One of the largest United States mortgage lenders, the California-based IndyMac Bank, has collapsed amid a growing credit crisis. Federal regulators seized the bank's assets, fearing it might not be able to meet withdrawals by depositors. It is the second-largest financial institution to fail in US history, regulators say.
Saturday, July 12th 2008 - 21:00 UTC
US satisfied with Argentine handling of farmers' dispute

The United States said it was satisfied at the way the Argentine government is handling the dispute with the farmers, said Argentine Ambassador to the US Héctor Timerman on Friday, after participating in a meeting with the US Under-Secretary for Western Hemispheric Affairs Thomas Shannon and the Treasury Department Deputy Assistant Secretary for the Western Hemisphere Brian O'Neill.
Friday, July 11th 2008 - 21:00 UTC
Iran, Nigeria fears rebound oil prices 5 USD in one day

Oil prices rebounded by more than 5 US dollars a barrel on Thursday as another missile launch by Iran stoked worries that escalating political tensions in the Middle East could cut off supplies out of the region.
Friday, July 11th 2008 - 21:00 UTC
OPEC oil earnings expected to reach 1.25 trillion USD

The Organization of Petroleum Exporting Countries earnings from oil exports are expected to reach a record 1.251 trillion US dollars this year, about 73 billion more than previously estimated, according to the US Energy Information Administration.