Stories for December 26th 2008

Friday, December 26th 2008 - 20:00 UTC
Recession will 'set British economy back five years'

Households must not rule out the prospect that the UK's economy shrinks by between 5 per cent and 10 per cent next year if the financial crisis sets off an even more vicious cycle of cutbacks, according to the Centre for Economics and Business Research.
Friday, December 26th 2008 - 20:00 UTC
Jobs opportunities down, lay offs up in Chilean economy

Despite government pleas to the contrary, some of Chile's largest industries have already begun laying off workers en masse, evidence that the global financial crisis is beginning to take serious hold here.
Friday, December 26th 2008 - 20:00 UTC
War reparations' claim divides Germany and Italy

Germany has filed a complaint against Italy at the United Nations International Court of Justice (ICJ) over Italian judgments awarding damages to victims of Nazi war crimes on the grounds that it has already paid reparations under international treaties with Italy.
Friday, December 26th 2008 - 20:00 UTC
Russia devalues rouble, and prepared “to address crisis”

Russia has devalued its currency, the rouble, for the third time this week and the seventh time this month. It takes it to its lowest value against the US dollar since January 2006.

The Russian currency has been hit by the price of oil, which is Russia's main export. Oil prices are more than 100 US dollars a barrel below their July peak.
Friday, December 26th 2008 - 20:00 UTC
Brazil health office to buy and distribute 1.2 billion condoms

Brazil's Health Ministry announced it will purchase 1.2 billion condoms next year for the country's national program against AIDS, according to Brazilian media reports.
Friday, December 26th 2008 - 20:00 UTC
Christmas celebration with Emma Darwin's Recipe Book

A cookbook based on notes by Charles Darwin's wife Emma, has been published in Britain, a fascinating testimony of Victorian times. Emma Darwin's Recipe Book features more than 40 dishes from her personal cookery notebook, which is housed in Cambridge University Library.
Friday, December 26th 2008 - 20:00 UTC
President Bush revokes pardon to NY property developer

US President George W Bush has taken the unusual step of reversing a pardon he had announced only a day earlier for a New York property developer. Isaac Robert Toussie, convicted of making false statements to a government department and mail fraud, was one of 19 people President Bush pardoned on Tuesday.
Friday, December 26th 2008 - 20:00 UTC
Lula da Silva signs bill creating sovereign wealth fund

Brazilian President Lula da Silva has signed a law creating a sovereign wealth fund to protect the country from the global financial crisis and help Brazilian companies boost trade and expand overseas.
Friday, December 26th 2008 - 20:00 UTC
Falklands request representation in de-mining work force

Falkland Islands Councillors have made a formal request to UK authorities for what a spokesperson described as, “full and proper representation of the Falkland Islands view”, in the proposed working party on de-mining in the Falklands.
Friday, December 26th 2008 - 20:00 UTC
Lan reduces air fuel surcharge and slashes fares

Chile's leading airline Lan and Sky Airlines have virtually eliminated the fuel surcharge in all domestic flights and slashed fares, in line with the falling prices of fuel, reports the Financial and Business section of Santiago's main daily El Mercurio.