Stories for January 2009

Tuesday, January 20th 2009 - 20:00 UTC
Corporate cuts cost Brazil 70.000 jobs and 27.8 billion USD

Brazil is estimated to have lost the equivalent of 27.8 billion US dollars in investments from domestic and international corporations as a direct consequence of the global recession, according to press reports from Sao Paulo.
Tuesday, January 20th 2009 - 20:00 UTC
British banking sector suffers devastating share losses

The bloodbath in the British banking sector continued apace on Tuesday as Lloyds Banking Group joined Royal Bank of Scotland in suffering further devastating share losses.
Tuesday, January 20th 2009 - 20:00 UTC
Fiat and Chrysler team up to face global car sector purge

Italian carmaker Fiat and US giant Chrysler have agreed to create a global strategic alliance, the companies said in a statement. Under the terms of the deal, Fiat will get a 35% stake in Chrysler. In return, the US firm will get access to Fiat's fuel-efficient vehicle technologies.It is hoped the agreement will lead to “substantial” savings for Chrysler.
Tuesday, January 20th 2009 - 20:00 UTC
Record December inflation fall opens the way for deflation

United Kingdom deflation fears were heightened after official figures released on Tuesday showed the annual rate of inflation fell at its fastest pace in December since the recession of the early 1990s.
Tuesday, January 20th 2009 - 20:00 UTC
“A great day for relations with Latinamerica”

With President Barack Obama's administration a “new chapter opens and a new relation with Latinamerica begins” said on Tuesday US ambassador in Argentina Anthony Wayne during a conference in Buenos Aires.
Tuesday, January 20th 2009 - 20:00 UTC
What the world wants of Barak Obama

When Barack Obama is sworn in as the 44th president of the United States, the wish list that has been building abroad may have grown longer than he or anyone else can deliver.
Monday, January 19th 2009 - 20:00 UTC
UK unemployment forecasted to soar to 3.4 million

The United Kingdom unemployment will soar to 3.4 million as the financial crisis deepens, experts predicted ahead of official figures set to show the scale of the jobs crisis rocking the economy.
Monday, January 19th 2009 - 20:00 UTC
Euro zone economy in recession will begin to recover in 2010

The Euro zone economy will shrink 1.9% in 2009 and grow by only 0.4% n 2010, the European Commission has forecast. The Commission said in a statement that the whole European Union was facing a “deep and protracted recession”.
Monday, January 19th 2009 - 20:00 UTC
Arab economic summit in Kuwait to address global recession

The global economic crisis has cost Arab countries 2,500 billion US dollars in the last four months alone, according to Kuwait's foreign minister.
Monday, January 19th 2009 - 20:00 UTC
Venezuela supports OPEC production cuts of 2 to 4m bpd

Venezuela is ready to sponsor a new cut in crude production to protect the oil market, two to four million barrels per day, confirmed Rafael Ramirez, Energy Minister and President of Petroleos de Venezuela (PDVSA), the country's government owned oil corporation.