Economy

• Thursday, September 3rd 2009 - 10:17 UTC

  G20 meeting anticipates clash over government spending and banks

  

  In anticipation of the G20 Finance ministers meeting in London on Friday UK Chancellor Alistair Darling insisted that world governments need to keep spending to ensure recovery from the global economic crisis.

• Thursday, September 3rd 2009 - 10:10 UTC

  EU hedge funds regulations threaten London’ position as global financial hub

  

  EU plans to regulate hedge funds are a “blatant attack” on London's role as an international financial centre, the mayor of the city has said. Boris Johnson added that suspicions ministers in Paris and Berlin were using the proposals to deliberately target London were “not unfounded”.

• Thursday, September 3rd 2009 - 10:08 UTC

  US loss of jobs slowing but unemployment still above 9.5%

  

  A report from a private researcher in United States established that August saw US employers cut the smallest number of jobs in nearly a year. ADP reports 298,000 non-government jobs were cut during August, which is considerably less than the prior month (360.000).

• Thursday, September 3rd 2009 - 10:06 UTC

  Fed pleased with latest data but US recovery is still fragile

  

  Federal Reserve policymakers were increasingly pleased by signs of improvement in the US economy but added that the recovery is still fragile, according to the minutes of their most recent meeting.

• Thursday, September 3rd 2009 - 07:10 UTC

  China first to buy 50 billion USD in IMF bonds

  

  China has agreed to buy the first International Monetary Fund bonds for about 50 billion dollars, the IMF said Wednesday. IMF managing director Dominique Strauss-Kahn and the deputy governor of the People’s Bank of China, Yi Gang, signed the agreement in Washington.

• Wednesday, September 2nd 2009 - 13:16 UTC

  Unemployment in Punta Arenas remains the lowest in Chile: 4.6%

  

  Magallanes in the extreme south of Chile remains as the region with the lowest unemployment in the country, 4.4% according to the latest release from the regional branch of the Statistics Office.

• Wednesday, September 2nd 2009 - 07:49 UTC

  China confirms stimulus and credit policies to prop economy

  

  Chinese top leaders reaffirmed on Tuesday the country’s stimulus program and easy credit policy following one of the worst monthly performances of the Shanghai and Shenzhen markets fearing recovery efforts could be loosing steam.

• Wednesday, September 2nd 2009 - 07:41 UTC

  Euro zone record in July: 15.1 million jobless

  

  Unemployment in the 16-member Euro zone hit a 10-year high in July, data released Tuesday showed. EU statistics office Eurostat said that another 167,000 people were unemployed in the Euro zone during July, pushing the jobless rate up to 9.5% from 9.4% in June which takes the total to 15.1 million people.

• Wednesday, September 2nd 2009 - 07:35 UTC

  IATA: air transport sector a “disaster”; airlines set to loose 9 billion USD

  

  ”The global situation of the air transport sector is a disaster” said Giovanni Bisignani, IATA’s Director General and CEO in a speech to JURCA, the association of airlines operating in Argentina.

• Wednesday, September 2nd 2009 - 07:16 UTC

  Penny-saving Brits in July pay back more than they borrow

  

  The amount of debt Britons owe fell for the first time since records began during July, figures show. People repaid £635 million more than they borrowed during the month, reducing outstanding lending to £1.456 trillion.