Stories for November 4th 2009

Wednesday, November 4th 2009 - 13:18 UTC
Peruvian regional initiative to cut military expenditure and fight poverty

Peru launched in Argentina its peace, security and cooperation initiative to reduce arms purchases in the region and to lower expenditure on military hardware.
Wednesday, November 4th 2009 - 13:17 UTC
Two million British children have no parent in work

The number of children in British families living on benefits has increased by 170,000 over the past year, with child poverty growing in affluent as well as traditionally hard hit areas, according to a new report.
Wednesday, November 4th 2009 - 13:14 UTC
Ireland and Spain forecasted to remain in recession well into 2011

The European Union's economy is set to rebound in 2010, recording a growth rate of 0.7% before accelerating to a rate of 1.6% in 2011, the bloc's executive said Tuesday. However some economies will emerge from recession faster than others and among those lagging well into 2011 are Spain and Ireland.
Wednesday, November 4th 2009 - 13:10 UTC
Major restructure of British banks includes more injection of funds

Britain’s Chancellor of the Exchequer Alistair Darling welcomed Tuesday the announcements that Royal Bank of Scotland (RBS) and Lloyds Banking Group are to sell off hundreds of branches.
Wednesday, November 4th 2009 - 13:03 UTC
Brazilian opposition to vote against Venezuela in Mercosur

The Brazilian opposition announced it will attempt to delay as much as possible the Senate vote on the incorporation of Venezuela to Mercosur which is scheduled to take place Wednesday following the approval by the Foreign Affaire committee last week.
Wednesday, November 4th 2009 - 09:42 UTC
Cuba admits overseas purchases down 36% plus difficulties to pay suppliers

Cuban purchases from United States companies will total some 580 million US dollars by the end of 2009, down 37% from last year, the head of the state corporation Alimport said this week.
Wednesday, November 4th 2009 - 09:32 UTC
Spain’s unemployment at a record 19.3% and no stopping in near future

Spain's registered jobless rose for the third consecutive month in October reaching 19.3%, as stimulus spending began to run out and the boost from the busy summer period faded.
Wednesday, November 4th 2009 - 09:29 UTC
Australia (with demand from Asia) beats recession and ups basic rate to 3.5%

Australia has raised its main interest rate for the second month in a row, to 3.5% from 3.25%. The move by its central bank was not unexpected as the Australian economy was the only one in the developed world to expand in the first half of 2009.
Wednesday, November 4th 2009 - 09:24 UTC
Iraq signs oil development agreements with Britain, China and Italy

Iraq's oil ministry has signed an initial agreement with a consortium led by the Italian firm, ENI, to develop the Zubair oilfield in southern Iraq. The deal which needs cabinet approval calls for the group to extract 200,000 barrels of oil a day, rising to 1.1 million a day within seven years.