Stories for May 2009

Saturday, May 30th 2009 - 15:35 UTC
Mixed signals from the US economy: decline softening

The US economy shrank at an annual pace of 5.7% in the first quarter, a less severe drop than initially reported but still the second-biggest quarterly decline in 27 years, according to the US Commerce Department.
Saturday, May 30th 2009 - 15:35 UTC
Barcelona-Gibraltar flights delayed by a month

Aerolineas Ándalus will delay the launch of flights between British Overseas Territory Gibraltar and Barcelona, Spain by at least a month because of low demand. The company began selling tickets several weeks ago but few people were buying, reports the Gibraltar Chronicle.
Saturday, May 30th 2009 - 15:29 UTC
Euro zone with zero inflation and growing fears of deflation

The Euro zone annual inflation rate in the 16-country region fell to 0% in May from April’s 0.6%, according to Euro-stat. Economists said inflation would turn negative in June, --deflation—further complicating the task of the European Central Bank as it attempts to combat the worst economic downturn for half a century.
Saturday, May 30th 2009 - 15:22 UTC
Brazil’s Real at it highest in 8 months; Bovespa up 40% so far this year

The Brazilian currency reached its highest level in eight months on Friday as signs that the world economy is bouncing back and there’s a return of capital inflows to emerging markets. Similarly the Bovespa market index rose 12% in May totaling 40% since the beginning of the year.
Saturday, May 30th 2009 - 15:16 UTC
OAS can’t agree on Cuba, while Havana ridicules the organization

The task force created by the Organization of American States, OAS, in an attempt to bridge different members’ proposals to consider the readmission of Cuba seems to have stalled with the main actors clearly underlining their stance.
Saturday, May 30th 2009 - 15:13 UTC
Chavez avoids debate with Vargas Llosa; will only act as moderator

Peruvian writer Mario Vargas Llosa refused to go to debate on Hugo Chávez' TV program “Hello President” (“Aló Presidente”) because the outspoken Venezuelan President said he was only going to be the “moderator”.
Friday, May 29th 2009 - 11:38 UTC
Boreal summer and OPEC push oil to new six-month high

Oil surged past 65 US dollars a barrel on Thursday to a fresh six-month high after OPEC decided to keep output unchanged and data showed a steep drop in US crude inventories.
Friday, May 29th 2009 - 11:29 UTC
Falkland Islands: Weekly Penguin News Update

Headlines: Padgett reveals Budget, Deficit announced in line with amended Medium Term Financial Plan; Next of kin to fly in for inauguration;13 year-old supports local team; May Ball colour supplement.
Friday, May 29th 2009 - 11:24 UTC
ILO predicts 230 million jobless in 2009; Latam unemployment, 9%

The International Labour Organization (ILO) is predicting global unemployment between 210 million and 239 million people in 2009 which represents a rate of 6.5% to 7.4%. Geneva based ILO made public Thursday its report on “Tackling The Global Jobs Crisis” in advance of the ILO annual conference, which begins June 3.
Friday, May 29th 2009 - 11:18 UTC
Next G20 summit will take place in Pittsburgh

United States will host the next G20 summit of world leaders in September, the White House has confirmed. The meeting will take place in Pittsburgh, Pennsylvania, on Thursday 24 September and Friday 25 September.