Economy

Wednesday, February 11th 2009 - 20:00 UTC
UK unemployment surges to new ten year high

United Kingdom jobcentres were said to be “creaking” under the pressure of work as new figures showed unemployment surging to a 10-year high. The jobless total reached 1.97 million, confounding many experts who had predicted it would break through the two million barrier.
Tuesday, February 10th 2009 - 20:00 UTC
China's January car sales overtake US, leading world market

China car sales topped the US for the first time last January totalling 735,500, a 14% drop, the China Association of Automobile Manufacturers said on Tuesday in an e-mailed statement today. That compares with a 37% plunge to 656,693 in the US, the world's largest auto market last year.
Tuesday, February 10th 2009 - 20:00 UTC
UK bank bosses told Parliament they are “profoundly sorry”

Former bosses at bailed-out banks Royal Bank of Scotland (RBS) and HBOS have said they are “profoundly sorry” and admitted they under-estimated the extent of the financial crisis.
Monday, February 9th 2009 - 20:00 UTC
Tractor and combine sales forecasted to fall 30% in S. America

United States Agco Corp. warned that industry-wide farm-equipment sales in South America could fall by almost a third this year due to drought and tough credit conditions.
Monday, February 9th 2009 - 20:00 UTC
Chile's January trade surplus plunges 70% in line with copper

Chile's trade surplus plunged 70% to 667 million US dollars during January compared to the previous month according to the latest release from the Central Bank. This also compares negatively with the 2.3 billion US dollars of the same month a year ago.
Monday, February 9th 2009 - 20:00 UTC
Ring-fencing jobs for unemployed locals rages in UK

UK Business Secretary Lord Mandelson has warned against calls to ring-fence jobs for UK citizens after comments by a Northern Ireland minister. Stormont Environment Minister Sammy Wilson caused controversy when he argued that the local unemployed should get jobs ahead of migrant workers. But Peter Mandelson - a former Northern Ireland Secretary - warned against such demands.
Monday, February 9th 2009 - 20:00 UTC
PM Brown tells banks “penalties” for “irresponsible risks”

Prime Minister Gordon Brown has insisted that there must be “no rewards for failure” in Britain's banks. His comments came as the UK Treasury launched a long-term review of City remuneration policies, amid public anger at reports that banks are planning to pay hundreds of millions in bonuses to senior staff despite their massive losses over the last year.
Monday, February 9th 2009 - 20:00 UTC
Brazil credit access back to pre-crisis level says Central Bank

Brazilian credit availability has returned to levels seen before the deepening of a global credit crisis in September, Brazilian Central Bank President Henrique Meirelles said Monday.
Monday, February 9th 2009 - 20:00 UTC
Germany top of goods exporter for sixth year running

Germany was the world's biggest goods exporter for a sixth straight year in 2008, staying just ahead of China by shifting nearly 1.5 trillion US dollars worth of merchandise, the World Trade Organisation (WTO) said on Monday.
Monday, February 9th 2009 - 20:00 UTC
Argentine “soy king” warns about the “tragic convergence”

The tragic convergence of drought, international crisis and export taxes could lead to the destruction of Argentina's farm production and the camp is in need of immediate support.