Economy

• Friday, January 29th 2010 - 11:59 UTC

  Bernanke reappointed but “Main Street America” is not satisfied

  

  Ben Bernanke has been approved to serve a second four-year term as chairman of the US Federal Reserve, the country's powerful central bank. The US Senate voted 70-30 in favour of Mr Bernanke, handing him the narrowest victory margin in decades.

• Friday, January 29th 2010 - 11:53 UTC

  Sweet-sour conflict: EU plants to export extra 500.000 tons of sugar

  

  The European Union plans to export an extra 500,000 tonnes of sugar because world sugar prices have soared and European beet farmers have surpluses. The European Commission says the export of extra, unsubsidised sugar will not violate international trade rules. It says the measure is temporary.

• Friday, January 29th 2010 - 09:58 UTC

  Uruguay 2009 competitiveness erodes 10.2% compared to main trade partners

  

  Uruguay’ competitiveness eroded 10.2% during the twelve months of 2009, which represents the third consecutive annual loss. The data was extracted from Uruguay’s Central Bank Real Exchange Rate index (TCR) which measures variations with the country’s main trade partners.
  In 2008 TCR lost 7.4% and the previous year, 7%.

• Friday, January 29th 2010 - 06:48 UTC

  Bill Clinton asks Davos forum for money and distribution trucks

  

  Former US President Bill Clinton appealed for global business leaders to help Haiti rebuild after the earthquake which devastated its coastal capital and killed as many as 200,000 people.

• Friday, January 29th 2010 - 06:08 UTC

  Chilean peso slumps on poor economic data and China: 530 to the US dollar

  

  The Chilean peso fell for a ninth day running, its longest losing streak in 15 months, as December industrial sales and production data came in below forecasts and bearish prospects for the country’s main export, copper given China’s strong liquidity and credit restrictions.

• Friday, January 29th 2010 - 06:00 UTC

  Ford post full-year earnings for the first time since 2005

  

  Ford Motor Co posted 2009 earnings of 2.7 billion USD, its first full-year profit since 2005, and said it expected a 2010 profit amid market share gains and a slow US auto sales recovery.

• Friday, January 29th 2010 - 01:52 UTC

  Obama promises jobs and admits a “deficit of trust” by the US people

  

  US president Barack Obama promised to make job creation his top priority as he made his first State of the Union address. Obama forecast the creation of 1.5 million jobs through the 'stimulus bill' in the nationally televised speech Wednesday evening to a joint session of Congress.

• Thursday, January 28th 2010 - 14:03 UTC

  Argentine financial markets waiting for outcome of Central Bank dispute

  

  Argentine financial markets closed lower on Wednesday waiting for the outcome of the ongoing dispute between President Cristina Kirchner and Central bank governor Martin Redrado which is now under consideration in Congress.

• 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.