Unemployment in Germany rose in July, official figures have shown, and economists have warned that the worst still lies ahead for the job market.
Argentina’s flight of capital remains steady having reached 5.5 billion US dollars in the second quarter of the year, 11.2 billion in the first half and 43.1 billion US dollars since the second quarter of 2007, when the first signs of the global crisis, according to the latest data from the Argentine Central Bank.
United States banks in New Jersey, Ohio, Florida, Oklahoma and Illinois were shut, pushing the toll of failed US lenders to 69 this year. The Federal Deposit Insurance Corporation was named the receiver of the five banks, the regulator said in e-mailed statements.
Cuban President Raul Castro said he remains ready to talk about everything and anything with the United States but that Cuba’s political system was not on the negotiating table.
China's economy would continue to recover from the world financial crisis in the latter half and expand at the rate of 8.5% for the whole year, said a report from the Bank of Communications on Sunday.
British Airways (BA) reported a larger-than-feared loss this morning, but provided some joy for investors after revealing that traffic was starting to stabilise and debts were falling.
The Japanese Rating and Investment agency has upgraded Uruguay’s debt rating from BB- to BB with a stable outlook according to the latest release this week. This is two slots below investment grade and recognized among other factors the light public debt service burden until 2011.
Brazil’s monetary policy makers said the benchmark interest rate (8.75%) is at a level that will spur economic growth without sparking inflation, signalling that they are prepared to keep borrowing costs unchanged through the end of the year.
The Chilean mining industry has regained more than half of the jobs lost in the recent recession and is anticipating further growth, spurred in large part by a growing value for copper, according to the latest numbers from the Minister of Mining.
The Spanish economy contracted 0.9% in the second quarter of the year, an improvement over the 1.9% fall of the previous quarter but still 4% below the same quarter a year ago, according to the latest release from the Central Bank.