Economy

• Friday, July 10th 2009 - 12:10 UTC

  Billionaire Buffet suggests US may need second stimulus package

  

  United States widely respected investor and financial wizard Warren Buffet said on Thursday unemployment in the US could reach 11% and a second stimulus package could be needed to pull the world’s largest economy out of recession.

• Thursday, July 9th 2009 - 12:56 UTC

  G8 concerned with “exit strategies” from stimulus packages

  

  The leaders of G8 believe the world economy still faces “significant risks” and may need further help, but macro-economic stimulus “must be consistent with price stability and medium-term fiscal sustainability” according to summit documents that also reflect failure to agree climate change goals for 2050.

• Thursday, July 9th 2009 - 12:34 UTC

  IMF forecasts 2.6% contraction for Latam economy

  

  The Latinamerican economy is forecasted to contract 2.6% this year according to the latest estimates from the International Monetary Fund, with Mexico showing the worst performance plummeting 7.3% in 2009.

• Thursday, July 9th 2009 - 12:32 UTC

  US regulators target speculation in the energy markets

  

  A United States regulator is to hold hearings to decide whether it should clamp down on speculation in the energy market.

• Thursday, July 9th 2009 - 12:25 UTC

  Bank of England to pump extra £ 25 billion to UK economy

  

  The Bank of England is set to pump an extra £25 billion into the recession-blighted UK economy. The rate-setting Monetary Policy Committee (MPC) is expected to vote to step up its quantitative easing programme - effectively printing more money - while holding interest rates at their record low of 0.5%.

• Wednesday, July 8th 2009 - 16:33 UTC

  Auto production and sales in Brazil surge as confidence returns

  

  Automobile output in Brazil climbed in June for the second straight month as manufacturers stepped up production to meet growing consumer demand, the national automakers' association Anfavea said on Monday.

• Wednesday, July 8th 2009 - 07:21 UTC

  Tokyo, Osaka, Moscow, Geneva, Hong Kong, most costly cities

  

  London no longer stands among the most expensive cities in the world to live in, as the fall in value of sterling and declining house prices have made life less expensive in the UK capital according to Mercer consultancy.

• Tuesday, July 7th 2009 - 10:13 UTC

  Uruguay’s June inflation 1.4% and 6.48% in last twelve months

  

  Uruguay’s consumer price inflation rose 1.4% in June, the highest in the last twelve months, but was the lowest 2.82% for the first half of the year since 2005, according to the latest release from the country’s Statistics Office.

• Tuesday, July 7th 2009 - 09:46 UTC

  First test for China’s Yuan as trade currency

  

  China has begun a trial scheme that allows trade with its neighbours to be settled with its own currency the Yuan. Six Shanghai companies have signed contracts with counterparts in Hong Kong and Indonesia to settle deals in the currency.

• Tuesday, July 7th 2009 - 07:00 UTC

  Stiglitz calls for an open debate on the global financial reform

  

  The debate on the restructuring of the world economy can’t be limited to a “closed club”, be it the G8 or the G20, and the United Nations must play a “vital role” in those discussions said Economy Nobel Prize Joseph Stiglitz in a column published Monday in the French newspaper Les Echos.