Stories for December 10th 2009

Friday, December 11th 2009 - 07:54 UTC
S&P downgrades Spain’s credit outlook to negative from stable

Spain has had its credit outlook cut to negative from stable by the ratings agency Standard & Poor's. The agency said Spain faced a deeper deterioration in public finances and a longer period of economic weakness than it had previously expected.
Friday, December 11th 2009 - 07:51 UTC
US extends bail-out fund until October next year “to assist American families”

US Treasury Secretary Timothy Geithner has announced that the 700 billion US dollars financial bail-out fund will be extended until October next year.
Friday, December 11th 2009 - 07:47 UTC
Bank of England leaves rates and QE program unchanged

The Bank of England has held UK interest rates at the record low of 0.5% in a widely-expected move. It also announced no changes to its program of pumping newly-created money into the economy - so-called quantitative easing (QE).
Friday, December 11th 2009 - 07:44 UTC
UK Chancellor warned about spending cuts and budget deficit targets

United Kingdom Chancellor Alistair Darling was warned he must find £36 billion in new spending cuts if the British Government is to meet its commitment to halve the budget deficit over the next four years.
Friday, December 11th 2009 - 07:42 UTC
Weak dollar helps US October exports rise 2.6%, highest level in almost a year

The United States trade deficit unexpectedly narrowed in October as exports rose to their highest level in almost a year, official figures have shown. The deficit fell to 32.9 billion US dollars, 7.6% lower than September's downwardly revised 35.7 billion
Friday, December 11th 2009 - 07:40 UTC
Chile denies any plans to work with FOGL in Falklands’ oil exploration

Chile reaffirmed Thursday that the country’s oil corporation Enap has no plans or prospects of exploring for oil in the Malvinas Islands maritime territory or any form of association with Falkland Oil and Gas Limited.
Friday, December 11th 2009 - 06:40 UTC
Over 35.000 Carabineros mobilized for Chile’s Sunday election

Chile's police force (Carabineros) this week outlined plans to protect the eight million voters expected to participate in Sunday's presidential election. Over 35,000 officers will be mobilized nationwide to ensure the election takes place smoothly, with Carabineros giving special attention to possible anarchist bomb threats.
Friday, December 11th 2009 - 06:22 UTC
Billionaire Piñera favourite to win Chile’s Sunday presidential election

The latest poll published in Santiago just four days before Chileans elect their next president - confirms billionaire businessman Sebastian Piñera as the heads-on favourite to win next Sunday’s vote.
Friday, December 11th 2009 - 04:11 UTC
President Obama defended the concept of “just war” at Peace Nobel ceremony

President Barack Obama defended the concept of a just war as he accepted the Nobel Peace Prize in Norway on Thursday. The US leader acknowledged he was a controversial recipient, not least because he is the commander-in-chief of a nation fighting two conflicts overseas.
Thursday, December 10th 2009 - 13:24 UTC
Idle capacity and low inflation allow Brazil to keep basic rate unchanged

Brazil’s central bank kept the benchmark Selic interest rate at a record low for the third straight meeting as inflation remains below target. The bank’s eight-member board, led by President Henrique Meirelles, voted unanimously on Wednesday to keep the overnight rate at 8.75%.