Economy

• Thursday, May 13th 2010 - 10:31 UTC

  Federal Budget April Revenue Falls 7.9% with Deficit Reaching 82.7 Billion

  

  The US reported its largest April budget deficit on record, 82.7 billion USD as receipts declined in a month that typically sees an increase in individual income tax payments, according to the latest release from the Treasury Department.

• Wednesday, May 12th 2010 - 18:58 UTC

  Healthy Surplus in South Georgia Finances, Spurred by Fishing, Tourism and Stamps

  

  The financial statements from the government of South Georgia and South Sandwich Islands ending December 2008 show a healthy surplus with fisheries licences, tourism and stamps, the three main sources of revenue.

• Wednesday, May 12th 2010 - 07:16 UTC

  China April Inflation Accelerates and Property Prices Jump 12.8%

  

  April inflation in China has accelerated as bank lending exceeded estimates and property prices jumped by a record, increasing pressure on the government to raise interest rates and let the currency appreciate.

• Wednesday, May 12th 2010 - 07:07 UTC

  Uruguayan Government Raises 2010 Economic Growth Forecast to 5.1%

  

  Uruguay’s government raised its 2010 economic growth forecast and said it will focus on health programs, security and infrastructure to maintain expansion of at least 4% annually, Economy Minister Fernando Lorenzo said.

• Wednesday, May 12th 2010 - 07:01 UTC

  Argentina Confident Bondholders Will Join Debt-Swap: Wednesday D Day

  

  Argentine Economy Minister Amado Boudou held a meeting Tuesday with 40 international investors at the New York Palace Hotel, within the framework of his United States road show to encourage bondholders to join the Government's debt-swap.

• Wednesday, May 12th 2010 - 03:54 UTC

  IMF: Euro Countries Must Focus on Cutting Deficits; Denies “Blanket Commitment”

  

  European countries saddled with debt should focus on cutting deficits in the wake of policy makers' unprecedented efforts to contain the region's sovereign-debt crisis, said John Lipsky from the International Monetary Fund.

• Wednesday, May 12th 2010 - 01:20 UTC

  Bank of England “No-Change” Policy; Leaves Assets-Purchase Program at £ 200bn

  

  The Bank of England held interest rates at record lows as policy-makers weighed up the impact of a Eurozone bailout and a hung parliament. The Bank's Monetary Policy Committee voted to hold rates at 0.5% and left its £200 billion program to boost the money supply unchanged.

• Tuesday, May 11th 2010 - 21:54 UTC

  Current Development Model Can’t Continue, Warns One of Brazil’s top Economists

  

  “With no new international order in sight following the crisis, the only certain thing is that the model of development which caused it can not continue”, said Brazilian economist Maria da Conceição Tavares during a magisterial conference before the United Nations Economic Commission for Latin America and the Caribbean, ECLAC, in Santiago de Chile.

• Tuesday, May 11th 2010 - 03:35 UTC

  Euro Support Package Approved by Soaring Global Markets, but Doubts Linger

  

  Global stock markets soared after the European Union and International Monetary Fund intervened to stop the Greek debt crisis spreading and support the weakened Euro.

• Monday, May 10th 2010 - 05:35 UTC

  EU Reacts and Unveils Package of 962 Billion US Dollars to Bolster the Euro

  

  European leaders unveiled an unprecedented loan package worth almost one trillion US dollars and a program of bond purchases in an attempt to bolster the Euro that has become highly vulnerable because of the Greek sovereign-debt crisis.