Economy

• Thursday, August 13th 2009 - 08:29 UTC

  A second bubble? US homeowners face mortgage debts higher than house value

  

  The percentage of US homeowners who owe more than their house is worth will nearly double to 48% in 2011 from 26% at the end of March, portending another blow to the housing market, Deutsche Bank said on Wednesday.

• Thursday, August 13th 2009 - 08:25 UTC

  WTO rules against China restrictions on US imports of DVD and media products

  

  The United States has won a ruling at the World Trade Organisation (WTO) against China's restrictions on the import of American DVDs and other media products.

• Thursday, August 13th 2009 - 08:22 UTC

  Soros optimistic about recovery of the US economy in third quarter

  

  The United States economy has hit the bottom and the current quarter will see positive growth because of the government's stimulus spending, according to billionaire financier George Soros.

• Thursday, August 13th 2009 - 08:12 UTC

  UK unemployment at its highest since 1995; second quarter, 2.43 million

  

  The recession in the United Kingdom has claimed another 220,000 jobs in the three months to June to take the total number of unemployed to 2.43 million, official figures have revealed.

• Thursday, August 13th 2009 - 08:09 UTC

  Mining giant BHP Billiton profits slump 51% and sales 16%

  

  Annual profits at mining giant BHP Billiton have more than halved after demand for commodities slumped. The company has more than 100 operations across the world, including South America and the Falkland Islands.

• Thursday, August 13th 2009 - 07:49 UTC

  InterContinental Hotels report loss: “business remains elusive”

  

  The British group which manages InterContinental Hotels, Crowne Plaza and Holiday Inn revealed that it plunged into losses in the first six months of 2009 and forecast a “tough” second half as the recession keeps business travellers at home. That compares with a net profit of 163 million dollars in the same part of 2008.

• Wednesday, August 12th 2009 - 12:19 UTC

  Chavez and Cristina sign a billion USD trade agreement

  

  Venezuelan President Hugo Chavez received on Tuesday Argentine President Cristina Fernandez de Kirchner in Caracas to sign agreements expanding trade between the two countries. Among the deals was an accord to import as many as 10,000 cars from Argentina this year instead of Colombia.

• Wednesday, August 12th 2009 - 12:10 UTC

  “Discrimination-free” and when possible “free-of-charge” soccer in Argentina

  

  The Argentine Football Federation Executive Committee agreed Tuesday to end the contract that for two decades had united AFA with television company Televisión Satelital Codificada, owner of the television rights for Argentina’s soccer.

• Wednesday, August 12th 2009 - 12:02 UTC

  Chinese economy recovering on government stimulus spending

  

  New economic figures show that China's export-geared economy still has weaknesses, but is showing signs of recovery. Still, there are warnings that much of the gain is dependent on government stimulus spending.

• Tuesday, August 11th 2009 - 11:05 UTC

  Big Government and how Great Depression II was averted, by Paul Krugman

  

  Under the title of “Averting the worst” Nobel Prize Paul Krugman praised “Big Government” for having saved the United States (and the world) from a second Great Depression