Economy

• Thursday, January 28th 2010 - 13:55 UTC

  Fed leaves rates unchanged but will begin to wind down liquidity programs

  

  The Federal Reserve said on Wednesday that the U.S. economic activity has continued to “strengthen” and decided to keep a key interest rate unchanged at a record low of between zero to 0.25% to prop up the economy. However there was a dissenting vote.

• Thursday, January 28th 2010 - 13:43 UTC

  Soros backs Obama’s proposals to limit size of banks

  

  Legendary investor George Soros has called for a radical break-up of banks that are “too big to fail”. He also backed US President Barack Obama's proposed reforms to limit the size of banks at the World Economic Forum in Davos.

• Thursday, January 28th 2010 - 13:41 UTC

  Sarkozy raps bankers and calls for a fundamental rethink of capitalism

  

  French President Nicolas Sarkozy has called for a fundamental rethink of capitalism in the aftermath of the financial crisis. “We need deep profound change,” he said in his keynote speech at the World Economic Forum in Davos.

• Thursday, January 28th 2010 - 05:56 UTC

  Argentine hoki fishery signs up for MSC certification

  

  The hoki (Macruronus novaezelandiae magellanicus) trawl fishery operating in the Argentine Economic Exclusive Zone and adjacent waters entered full assessment to be considered for Marine Stewardship Council (MSC) certification. It is the second South American fishery to officially seek MSC certification of sustainability.

• Thursday, January 28th 2010 - 05:49 UTC

  Argentine beef exports soared 57% last year but trend “is not sustainable”

  

  Argentine beef exports last year soared 57% in volume and 11% in value compared to 2008, having totalled 419.000 tons and 1.65 billion US dollars according to an official release from the country’s National Food Health and Quality Service, Senasa.

• Thursday, January 28th 2010 - 05:37 UTC

  US teenagers aged 16 to 19 unemployment stands at 26%

  

  The United States economic recession has taken a particularly heavy toll on young US citizens, with a record one out five black men aged 20 to 24 neither working nor in school, according to research released.

• Thursday, January 28th 2010 - 05:33 UTC

  Brazil signs agreement to purchase 10 billion USD in IMF notes

  

  The Brazilian government and the International Monetary Fund signed a technical agreement under which Brazil will buy up to 10 billion USD in IMF notes over the next two years.

• Thursday, January 28th 2010 - 05:24 UTC

  Apocalyptic forecast about G-7 countries from investment advisor

  

  A top investment advisor has described Britain's economy as a 'must to avoid' and says 'gilts are resting on a bed of nitro-glycerine'. Bill Gross, manager of the world's biggest bond fund Pacific Investment Management Co made the comments as he warned investors to shy away from government debt, especially in the G7 industrialised nations.

• Thursday, January 28th 2010 - 05:17 UTC

  GM sells Saab to Dutch luxury car maker Spyker

  

  Troubled Swedish carmaker Saab has been sold to Dutch luxury sport car maker Spyker. The sale was made by its current owners General Motors (GM) who said they had entered into a “binding agreement” to sell the iconic brand to Spyker.

• Wednesday, January 27th 2010 - 15:16 UTC

  Redrado conditions participation before congressional advisory committee

  

  The ousted head of the Central Bank Martín Redrado demanded Tuesday Argentine President Cristina Fernández de Kirchner revoke the DNU emergency decree which she had issued in order to dismiss him from his post as the Central Bank governor.