Economy

• Thursday, September 17th 2009 - 13:16 UTC

  Warren Buffett says US economy still has not begun to climb out of recession

  

  The United States economy has not begun to climb out of the worst recession since the Great Depression but the 'terror' that followed last year's near-collapse of the financial system is gone due in part to government intervention, billionaire investor Warren Buffett said this week in California.

• Thursday, September 17th 2009 - 13:10 UTC

  Jobless number climbs to 2.47 million in Britain, highest since 1997

  

  British unions and employers have reacted with alarm after unemployment surged to a 14-year high prompting fresh calls for Government help for the growing army of jobless. The total now stands at 2.47 million following a 210,000 rise in the three months to July.

• Wednesday, September 16th 2009 - 11:03 UTC

  Uruguayan economy recovers in the second quarter with 0.5% GDP growth

  

  The Uruguayan economy performed better than expected in the second quarter of 2009, having advanced 0.5% over the previous quarter and 0.2% over the same period a year ago, according to the latest release from the Central Bank.

• Wednesday, September 16th 2009 - 08:15 UTC

  Lula da Silva tells BBC: “rich countries to blame for the financial crisis”

  

  Brazilian President Lula da Silva has heavily criticised the “rich countries”, the G8 and other international bodies over the global economic crisis.

• Wednesday, September 16th 2009 - 07:54 UTC

  Recession for “some time” to come predicts Bank of England

  

  Households and businesses will be hit by the recession for “some time” despite recent signs of growth, Bank of England Governor Mervyn King has warned. Mr King said the impact of dampened demand and soaring unemployment would linger long after the ailing UK economy began its slow recovery from the worst slump in almost 30 years.

• Wednesday, September 16th 2009 - 07:48 UTC

  Britain could be forced to bail out offshore tax havens

  

  Britain could be forced to bail out one or more of its offshore tax havens at huge cost, according to early drafts of a Treasury report, because the economic crisis has wrecked their finances, according to The Guardian from London.

• Wednesday, September 16th 2009 - 07:23 UTC

  US taxman corners evaders hiding in foreign holdings

  

  Rich Americans who have evaded taxes by hiding their foreign holdings have about a week to decide whether to turn in to an Internal Revenue Service amnesty program or gamble that they will not be caught.

• Tuesday, September 15th 2009 - 12:00 UTC

  Obama warns Wall Street bankers on anniversary of Lehman collapse

  

  US President Barack Obama has warned bankers against complacency, saying that some in the industry are ignoring the lessons of the financial crisis. “We will not go back to the days of reckless behaviour and unchecked excess at the heart of this crisis,” he said.

• Tuesday, September 15th 2009 - 11:57 UTC

  US extends trade embargo on Cuba for another year

  

  Despite vowing a new beginning in the US-Cuba relations, President Barack Obama has decided to extend the 47-year-long US trade embargo on Cuba for another year.

• Tuesday, September 15th 2009 - 11:53 UTC

  Signs of EU fragile recovery but job losses set to peak in coming quarters

  

  European Union (EU) governments should be braced for more job losses, officials in Brussels said Monday as they published forecasts pointing to a slow recovery in the 27-member bloc. Unemployment in the Euro-zone reached 9% in the second quarter and could reach 10% in the coming quarters.