Economy

• Tuesday, November 17th 2009 - 01:02 UTC

  Repsol cutting EP investment plans to reduce costs

  

  Repsol-YPF, Spain’s biggest oil company cut its five-year exploration and production investment plan to reduce costs as the economic slowdown saps earnings. Repsol will invest an estimated 8.76 billion Euros in E&P from 2008 through 2012, down from an earlier plan to spend 9.3 billion Euros, the Madrid-based company announced Monday.

• Monday, November 16th 2009 - 14:31 UTC

  Controversy over Winnie-the-Pooh alleged unpaid royalties

  

  The family of the man who made Winnie-the-Pooh famous in the US is suing Disney over alleged unpaid royalties. The late Stephen Slesinger, who signed a licensing deal with Pooh creator AA Milne in 1931, gave the bear his red shirt and developed Pooh products.

• Monday, November 16th 2009 - 14:27 UTC

  Queen’s Speech will announce radical changes in London City banking

  

  London City regulators are to be given new powers to tear up bankers' contracts if they include excessive pay and bonus deals which might threaten the stability of the financial system.

• Saturday, November 14th 2009 - 13:51 UTC

  Argentine bishops call on CFK to combat poverty and consolidate democracy

  

  The Argentine Catholic Church urged the government to combat the “dramatic” situation of the poor and demanded the authorities consolidate democratic institutions and defuse growing social unrest.

• Saturday, November 14th 2009 - 13:47 UTC

  Argentina’s retail inflation climbs 0.8% during October

  

  Argentina’s consumer price index increased 0.8% during October, according to the official Statistics office, Indec. The education and apparel industries were the ones that most gained. The main private pollsters were expecting the retail prices index to rise between 1 and 1.3%.

• Saturday, November 14th 2009 - 13:25 UTC

  IMF calls on Asian countries to appreciate their currencies

  

  International Monetary Fund Managing Director Dominique Strauss-Khan urged Asian nations to let their currencies appreciate as part of the region’s contribution to a more balanced global recovery.

• Friday, November 13th 2009 - 08:04 UTC

  US and Japan record low interest rates funding global “carry trades”

  

  The International Monetary Fund said that record low US interest rates are funding global “carry trades” and the dollar is still overvalued as concerns mount that new financial imbalances are forming.

• Thursday, November 12th 2009 - 13:27 UTC

  Record for gold on renewed economic recovery optimism

  

  The gold rally resumed once more on Wednesday as prices rose more than 15 US dollars an ounce, spurred on by the US dollar’s seemingly endless decline, which continued as renewed optimism over the economic recovery led to dollar selling.

• Thursday, November 12th 2009 - 13:23 UTC

  Chilean gold production expected to triple by 2015

  

  A study conducted by Chile's National Copper Commission (COCHILCO) reports that the country will most likely triple its gold production within the next five years.
  The opening of new mines in Chile's north will take production from an annual level of 39 tons to nearly 110 tons, said the report.
  This would make Chile one of the world’s 10 largest producers.

• Thursday, November 12th 2009 - 10:49 UTC

  China’s strong economic data fuel annual growth prospect of 8%

  

  The latest economic data from China suggests that industrial production grew year on year at a level faster than expected. Retail sales also rose by more than analysts had predicted, while consumer prices continued to fall.