Economy

• Thursday, May 14th 2009 - 08:03 UTC

  US triple-A credit rating at risk, if finances are not put in order

  

  The United States is at risk of losing its triple-A credit rating unless it starts putting its finances in order, a former head of the agency in charge of fiscal accountability said in the Financial Times on Wednesday.

• Thursday, May 14th 2009 - 07:56 UTC

  Bank of England anticipates slow protracted recovery

  

  The Bank of England says that the UK economic recovery is likely to be slow and protracted. The Bank has cut its growth forecast over the next two years and raised its estimate for inflation since February.

• Wednesday, May 13th 2009 - 15:53 UTC

  Argentina could have to import beef and wheat in 2010

  

  Argentina, once the breadbasket of the world and land of some of the best cattle beef could be forced next year to import wheat and beef to meet domestic demand, according to government and private sector reports.

• Wednesday, May 13th 2009 - 15:50 UTC

  China’s exports down 22.6% in April, sixth month running

  

  China's exports in April were down 22.6% from a year ago, the sixth successive month of decline. April's fall in exports was also bigger than the 17.1% annual decline recorded in March

• Wednesday, May 13th 2009 - 15:46 UTC

  Brazil’s finance guru anticipates 4% GDP expansion in 2010

  

  Brazil’s GDP should expand 4% in 2010 but the performance of the economy in the first quarters of 2009 will be dismal, in the range of zero growth or even below, said economist Delfim Netto.

• Wednesday, May 13th 2009 - 02:01 UTC

  UK adult minimum wage £ 5.80 an hour from next October

  

  The United Kingdom announced that the national minimum wage is to increase by 7p to £5.80 an hour. The new adult rate for workers aged 22 and over will come into effect in October.

• Tuesday, May 12th 2009 - 10:39 UTC

  Nobel laureates warn about risks of a “lost decade”

  

  Nobel Economics laureate Edgard Prescott and Joseph Stiglitz warned Monday of a “lost decade” and a worsening of the global financial crisis in the short term during a forum in Sao Paulo, Brazil. The “lost decade” reference is to the stagnation of the economy as happened with Japan during the nineties.

• Tuesday, May 12th 2009 - 10:03 UTC

  Global economy close to “inflection point” says leading central bankers

  

  The global economy has stopped its steep slide and is on the verge of making the long, slow climb back toward stability, said European Central Bank President Jean Claude Trichet who chaired on Monday a meeting of the world's leading central bankers.

• Tuesday, May 12th 2009 - 05:24 UTC

  Russia Second Largest Arms Exporter; South America Promising Market

  

  Stockholm International Peace Research Institute, SIPRI latest data on global arms transfers published this week reveal that Russia remains the second largest arms exporter in the world, accounting for a quarter of global exports of major conventional arms.

• Tuesday, May 12th 2009 - 04:46 UTC

  General Motors admit bankruptcy “more likely” on June deadline

  

  US auto maker General Motors' top executive said Monday that it's more likely the company will file for US bankruptcy than meet a June 1 government deadline to restructure.