Stories for 2008

Thursday, October 16th 2008 - 20:00 UTC
Swiss government rescues top UBS bank with 65 bn USD

Switzerland is taking steps to strengthen its largest bank, UBS, becoming the latest European government to unveil a banking rescue plan. UBS is raising 6bn Swiss francs (5.3 billion US dollars) from the government.
Thursday, October 16th 2008 - 20:00 UTC
US industrial production record down; inflation flat

United States industrial production posted the biggest monthly decline since 1974 while consumer prices were flat in September, according to reports Thursday. Adding to the gloom a factory index for the Philadelphia region hit an 18-year low this month.
Wednesday, October 15th 2008 - 20:00 UTC
Fighting corruption and poverty, agenda of new Peruvian cabinet

Peruvian President Alan Garcia swore in a new Cabinet headed by a leftist governor as Prime Minister following a scandal over possible corruption in the awarding of oil concessions which prompted all of his ministers to resign last week.
Wednesday, October 15th 2008 - 20:00 UTC
UK September inflation peaks at 16 year high, 5.2%

UK inflation hit a 16-year high of 5.2% in September, with energy bills behind much of the rise, figures have shown. The Consumer Prices Index (CPI) measure was up from 4.7% in August.
Wednesday, October 15th 2008 - 20:00 UTC
CBS/NYT poll gives Obama 14 points lead over McCain

The United States Democratic presidential nominee Barack Obama is entering the third and final presidential debate Wednesday with a wide lead over Republican rival John McCain, according to the latest CBS News/New York Times poll.
Wednesday, October 15th 2008 - 20:00 UTC
Marx “Das Kapital” sales soar among young Germans

Sales of Kart Marx's “Das Capital” have soared in Germany as a consequence of the financial crisis reported on Tuesday editor Jrn Schtrumpf from the newspaper “Neue Ruhr/Rhein Zeitung” (NRZ).
Wednesday, October 15th 2008 - 20:00 UTC
Russian interest in South American Defence Council

Russia officially requested its incorporation as observer to the Union of South American Nations Defence Council, CDS announced on Tuesday Argentina's Defence Ministry.

The request was presented by Russian Security Council chairman Nikolay Patruscev during a meeting held with Minister Nilda Garré.
Wednesday, October 15th 2008 - 20:00 UTC
Cost of world crisis: 2% world GDP say Commerce Chambers

The current financial crisis could exact a toll on the world's gross domestic product, an international business group in Belgium said.
Wednesday, October 15th 2008 - 20:00 UTC
Argentina industry fears depreciation of Brazilian currency

Argentina's powerful industrial lobby, warned that the current real exchange rate with Brazil is back to “2001 levels”, when the preambles of the worst economic crisis suffered by the country in a century.
Wednesday, October 15th 2008 - 20:00 UTC
Krugman: no return to Marx but to Franklin Roosevelt

Paul Krugman, who won this year's Nobel Prize for economics, told CNBC that the Treasury Department's move to inject banks with 250 billion US dollars is better than the original bailout plan.