Stories for May 2009

Saturday, May 16th 2009 - 13:15 UTC
Euro zone first quarter contraction of 2.5% surprises economists

The economies of the 16 countries of the Euro zone experienced its worst quarterly drop in GDP in the first three months of the year, shedding 2.5% according to a release from the EU statistics agency Eurostat.
Saturday, May 16th 2009 - 13:10 UTC
British voters want snap election; Labour support down to 22%

Almost two in three British voters believe a general election should be called as soon as possible amid mounting public anger about Member of Parliaments' taxpayer-funded expense claims, a poll has revealed.
Saturday, May 16th 2009 - 13:03 UTC
Lula da Silva promotes use of local currencies for trade

China and Brazil should conduct business with each other in their own currencies instead of the dollar, a publication quoted Brazil's president Lula da Silva as saying ahead of his trip to Beijing next week.
Saturday, May 16th 2009 - 12:56 UTC
Brazil/China to sign agreement to develop sub-salt oil deposits

Brazil's President Lula da Silva is to sign a “voluminous” financing agreement for government managed Petrobras on a visit to China next week said Energy Minister Edison Lobao.
Saturday, May 16th 2009 - 10:37 UTC
General Motors to close 1.100 dealerships

General Motors, the US auto giant, has told 1.100 dealerships that they will be closed down as the company struggles to survive amid an economic crisis. The shutdowns are just part of a larger plan to shut 2.600 of its 6.200 dealerships as the car manufacturer makes cuts in an attempt to become profitable again. The move is likely to cause the loss of thousands of jobs across the US.
Saturday, May 16th 2009 - 10:34 UTC
Brazilian government admits lower growth for 2009

Brazilian Finance Minister Guido Mantega admitted for the first time that Brazil's economic growth will likely fall in the 0 to 2% range in 2009, Brazilian media reported Friday.
Saturday, May 16th 2009 - 07:39 UTC
Chavez calls for Latinamerican unity to ensure the region’s “freedom”

Venezuelan president Hugo Chavez underlined the importance of Latinamerican unity to ensure the region’s “freedom”, questioned the IMF capability to address the global economic crisis and was full of praise for the Kirchner administrations that face a crucial mid term election next month.
Friday, May 15th 2009 - 12:25 UTC
Calculating the impact of the Antarctic ice sheet melting

The collapse of a major Antarctic ice sheet will not raise global sea levels as much as previous projections suggest, a team of scientists has calculated. Writing in Science, the researchers said that the demise of the West Antarctic Ice Sheet (WAIS) would result in a sea level rise of 3.3m.
Previous estimates had forecast a rise in the region of five to six metres.
Friday, May 15th 2009 - 12:09 UTC
Uruguay’s president calls for “deeds” and an end to Argentine pickets

Uruguayan president Tabare Vazquez called for “deeds” from Argentina and insisted that the administration of Cristina Fernandez de Kirchner must remove the pickets which for two years have cut the traffic between the neighbouring countries in protest over the construction of a pulp mill.
Friday, May 15th 2009 - 12:00 UTC
Falkland Islands: Weekly Penguin News Update

Sei whale washes up on Carcass. -

ONE animal’s misfortune has become the gain of hundreds of others on Carcass Island.The body of an enormous sei whale was found dead with hundreds of giant petrels around it, when the island’s owner Rob McGill discovered it on Sunday.