Economy

• 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.

• Monday, July 6th 2009 - 09:31 UTC

  UK to announce sweeping banking reform this week

  

  The United Kingdom Chancellor Alistair Darling has hit out at “kamikaze” bankers for damaging the British economy and said a shake-up to be unveiled this week would prevent a repeat.

• Monday, July 6th 2009 - 09:22 UTC

  Venezuela takes over Banco Santander and pays first instalment

  

  Venezuela has taken formal control of its third largest bank, the previously Spanish-owned Banco de Venezuela. The first instalment of a 630 million US dollars price tag was made amid much ceremony in the capital Caracas, with nearly all the shares passing to the government.

• Saturday, July 4th 2009 - 13:58 UTC

  US regulators close seven banks; 52 so far in 2009

  

  United States bank regulators closed seven institutions this week including six banks in Illinois controlled by one family and a small bank in Dallas, bringing the total number of US bank failures to 52 so far this year. (This compares with 25 in 2008 and 3 in 2007).

• Saturday, July 4th 2009 - 09:17 UTC

  Brazil threatens to take Argentina to WTO on import licences

  

  Brazil may file a complaint at the World Trade Organization against Argentina because of its delays in issuing import licenses for Brazilian goods according to Foreign Trade Chamber Secretary Lyntha Spindola.