Economy

• Thursday, August 27th 2009 - 08:30 UTC

  British households suffering from “worklessness” soars to 3.3 million

  

  The British government was accused of “deserting” millions of people after official figures showed the number of households in the UK with no one over the age of 16 working has increased by 240,000 in the past year to 3.3 million.

• Wednesday, August 26th 2009 - 08:57 UTC

  Argentina’s finances increasingly in the red

  

  The Argentine Central Bank helped the Treasury with 3 billion Pesos (approximately 790 million US dollars) during June to cover the gap caused by exceptional outlays because of the mid term elections.

• Wednesday, August 26th 2009 - 02:01 UTC

  Skyrocket US budget deficit: tax rise once recession is over

  

  The US budget deficit will soar to almost 1.6 trillion US dollars this year, the highest on record, both the White House and Congress have warned. Fuelled by President Obama's 787 billion stimulus package and reduced tax revenues due to the recession, it compares with a 455 billion US dollars deficit in 2008.

• Tuesday, August 25th 2009 - 22:08 UTC

  Obama confirms nomination of Bernanke as head of the Federal Reserve

  

  President Barack Obama confirmed Tuesday that he has nominated Ben Bernanke for another term as chairman of the US central bank, the Federal Reserve. The president took a break from his summer holiday to make the announcement.

• Tuesday, August 25th 2009 - 15:12 UTC

  Uruguayan operators optimistic about the coming cruise season

  

  Uruguayan cruise operators believe the coming season could unveil some interesting surprises in spite of the global recession. The fall in value of the US dollar compared to the strength of the Euro and Latinamerican currencies could see a drastic change in the nationality of visitors with Europeans and Latinamericans compensating the US deficit.

• Tuesday, August 25th 2009 - 14:58 UTC

  Strike paralyzes container activities in Buenos Aires port

  

  Container shipments are paralysed in the port of Buenos Aires due to a union conflict that is causing huge losses, the Argentine press reported.

• Tuesday, August 25th 2009 - 14:49 UTC

  China rebounding but economy still “unstable” warns Premier Wen Jibabo

  

  Premier Wen Jiabao has warned that China is still facing various uncertainties ahead despite signs of economic recovery, saying the government will maintain the macro economic policies.

• Monday, August 24th 2009 - 11:28 UTC

  Brazil reaffirms influence in Bolivia and support for Evo Morales

  

  President Lula da Silva reaffirmed Brazil’s influence during his visit to Bolivia where he announced the opening of the Brazilian market to Bolivian textiles and extended a loan to build a leg of the bi-oceanic corridor which will eventually join Santos in the Atlantic with Iquique on the Pacific.

• Monday, August 24th 2009 - 10:56 UTC

  Release of data on US skyrocketing deficits will mark this week’s markets

  

  United States President Barack Obama's domestic policy proposals will face the reality of skyrocketing deficits on Tuesday when officials release two government reports projecting huge budget shortfalls over the next decade.

• Saturday, August 22nd 2009 - 11:15 UTC

  Markets react to Bernanke’s speech, but also warnings of over expectations

  

  World stock markets reacted positively after US central bank chief Ben Bernanke said the world's biggest economy was nearing the start of a recovery.
  “The prospects for a return to growth in the near term appear good,” Mr Bernanke told a conference in Wyoming.