Americans must support a massive bail-out of financial markets to ease a serious financial crisis, US President George W Bush said on Wednesday. The entire economy was in danger, he said in a live TV speech, and failure to act now would cost more later.
He has invited presidential rivals John McCain and Barack Obama to the White House on Thursday to discuss the 700 billion US dollars rescue package.
The rivals have disagreed on delaying a TV debate over the economic turmoil.
Brazilian unemployment in August fell to its lowest level since 2001 thanks in part to the nation's solid economic growth. The country's official statistics institute IBGE said the rate dropped to 7.6% from 8.1% in July and 1.9 percentage points from August 2007.
The economic turmoil provoked by crises in the United States subprime and finance markets has put an end to the free market economy, French President Nicolas Sarkozy said on Thursday.
The number of mobile cellular subscribers worldwide will reach the 4 billion mark by the end of 2008, the head of the United Nations International Telecommunications Union (ITU) announced Thursday.
United States lawmakers have expressed strong skepticism about a bail-out of the banking system, following a five-hour Senate hearing on the rescue plan. Treasury Secretary Henry Paulson told the banking panel that delaying the 700 billion US dollars bail-out would put the entire US economy at risk.
Hot debates about the evolving, if not worsening, global financial crisis offer much needed food for thought as China's financial development enters a new era, but few disagree on the need of further financial reforms, according to a leading Chinese banker.
With the purpose of injecting liquidity and preserve Brazil from the impacts of the US financial crisis, the country's monetary authorities eased rules on reserve requirements that banks must keep at the Central Bank.
The Group of 8 of industrialized countries will consider a proposal by French President Nicolas Sarkozy for a leaders' summit to overhaul the world's financial system in the wake of a crisis that has rocked markets.
Uruguay's winter crops area has increased 49% over a year ago totaling 593.000 hectares (399.000) according to the country's Agriculture Ministry Statistics Office, DIEA-MGAP.
Shares in Asia opened on Tuesday lower amid uncertainty about the impact of the massive US financial bail-out plan. The falls followed a sharp slide in the US, where the Bush administration has been discussing the 700 billion rescue plan with Congress.