Stories for 2008

Wednesday, October 8th 2008 - 21:00 UTC
US dollar soars in Chile and closes trading at 612 pesos

With no end in sight for the global financial and confidence crisis, plus the price of commodities falling, the US dollar is breaking new records in Chile having closed trading on Wednesday at 612 Chilean pesos.
Wednesday, October 8th 2008 - 21:00 UTC
Kirchner challenges Jazz effect: “crisis does not affect us”

Guess who is back? Argentina's First Escort and with a resounding “This crisis does not affect us”. Former president Nestor Kirchner has returned to open politics and in a rally to prop President Cristina Fernandez de Kirchner made the daring remarks.
Wednesday, October 8th 2008 - 21:00 UTC
Germany, France and Italy spear EU 0.2% contraction in 2Q

The economy of the euro zone contracted 0.2% in the second quarter after growing 0.7% the previous quarter, according to the latest EU data, which confirmed earlier estimates.
Wednesday, October 8th 2008 - 21:00 UTC
Coordinated interest slash fails to defeat markets gloom

Stocks fell sharply on Wednesday as co-ordinated global interest rate cuts by major central banks failed to dispel the gloom engulfing world markets. On Wall Street, the Dow Jones ended 189.01 points lower, or 2%, at 9,258.1 despite having risen in earlier trade.
Wednesday, October 8th 2008 - 21:00 UTC
Fisheries depletion & poor management costs 50 billion USD

The world's fishing fleets are losing billions of dollars each year through depleted stocks and poor management, according to a UN report. The World Bank and the UN Food and Agriculture Organization (FAO) calculate the losses at 50 billion US dollars per year.
Wednesday, October 8th 2008 - 21:00 UTC
Commodities windfalls are over for Latam, says IMF

Latin American economies are facing an awkward combination of slowing activity, more difficult external conditions, and still-high inflation. After four years of strong output growth, the pace eased in most economies of the region during the first half of 2008, largely because of moderating exports, according to the IMF World Economic Outlook.
Wednesday, October 8th 2008 - 21:00 UTC
Transport expert named to UK Overseas Territories

Gillian Merron has been named United Kingdom Parliamentary Under Secretary of State for the Foreign and Commonwealth Office, effective October 5. She joins the five-member ministerial team at the Foreign and Commonwealth Office, led by Foreign Secretary David Miliband.
Wednesday, October 8th 2008 - 21:00 UTC
Brazil and Mexico sell bank reserves to support currencies

Latin American stocks and currencies fell during another day of volatile trading on Wednesday on fears of a global slowdown. Several central banks had to intervene to cool the demand for US dollars.
Tuesday, October 7th 2008 - 21:00 UTC
Lehman Brothers CEO took home 300 million USD in pay

The head of failed United States investment bank Lehman Brothers told Congress on Monday that he took home about 300 million US dollars in pay and bonuses over the past eight years.
Tuesday, October 7th 2008 - 21:00 UTC
Argentina and Chile prepare Beagle peace celebrations

Argentina and Chilean presidents will lead peace and reconciliation celebrations next December in Punta Arenas on the thirtieth anniversary of the papal intervention which prevented a full fledged war over the Beagle channel between the neighbouring countries back in 1978.