Economy

• Sunday, September 12th 2010 - 06:41 UTC

  Public debate erupts in UK over the building of two (one?) air carriers

  

  British Ministry of Defence revealed that contracts worth about £1.25bn have been awarded for building two aircraft carriers even though the project may not go ahead, figures have revealed. The figures came in answer to a parliamentary question by a Labour MP.

• Saturday, September 11th 2010 - 18:22 UTC

  Developed nations slowdown “more pronounced than anticipated” says OECD

  

  The global economic recovery is slowing faster than forecast, but a return to recession is unlikely, a leading global economic group has said. The Organisation for Economic Co-operation and Development (OECD) said the slowdown had been more “pronounced than anticipated”.

• Friday, September 10th 2010 - 04:39 UTC

  Brazil’s Real at its highest in eight months; government promises a cap

  

  Brazilian Finance Minister Guido Mantega said the government won’t allow the Real to strengthen excessively as the currency reached its strongest in eight months.

• Friday, September 10th 2010 - 04:31 UTC

  Kirchner cabinet refutes FT report: no IMF revision of Argentine economy

  

  Argentina is still opposed to having its economy reviewed by the International Monetary Fund (IMF), government ministers said on Thursday, refuting recent media reports to the contrary.

• Friday, September 10th 2010 - 03:45 UTC

  Bank of England leaves interest rates on hold at 0.5% for 18th month running

  

  The Bank of England has kept UK interest rates on hold at a record low of 0.5% for the 18th consecutive month. The Monetary Policy Committee's (MPC) decision had been expected, but calls have been growing for an increase in rates to curb inflation.

• Friday, September 10th 2010 - 03:31 UTC

  A rare copy of “Birds of America” to be auctioned could raise 15 million USD

  

  Ten years ago, a copy of painter and naturalist John James Audubon’s Birds of America was sold by Christie’s for £5.7m (8.8 million USD). On 7 December this year, another copy of the book will be auctioned by Sotheby’s, along with other rare and valuable books, letters and manuscripts.

• Friday, September 10th 2010 - 03:27 UTC

  New York Times going out of print “sometime in the future”

  

  Chairman and publisher of the New York Times Arthur Sulzberger delivered a speech within the framework of a newsroom gathering summit in London and tackled the rumours of the newspaper going out of print by 2015.

• Friday, September 10th 2010 - 03:21 UTC

  Goldman Sachs fined 27 million USD in UK for “inadequate disclosure”

  

  The United Kingdom financial watchdog slapped a 27 million US dollars fine on Goldman Sachs for inadequate disclosure of a US probe into the Wall Street powerhouse.

• Friday, September 10th 2010 - 02:33 UTC

  Venezuela food prices drop in August ahead of crucial congressional election

  

  Venezuela reported the slowest monthly inflation of the year in August after the government moved to tackle sporadic food shortages by importing more goods ahead of the September 26 congressional elections.

• Thursday, September 9th 2010 - 23:08 UTC

  India increasing trade and investment links with Peru

  

  Following closely on the steps of China but with lesser exposure India is increasing trade, investment and business links with Latin America, the latest of which a Bussiness seminar in Lima, Peru.