Economy

Thursday, January 29th 2009 - 20:00 UTC
Record losses in Ford but “no need” for government aid

US carmaker Ford reported this week the biggest full-year loss in its history, but said it still was not going to ask for government loans. Ford said its net loss for the fourth quarter of 2008 was 5.9 billion dollars, and 14.6 billion for the whole year.
Thursday, January 29th 2009 - 20:00 UTC
Uruguay's trade deficit trebles in Jan-Nov. 2008

Uruguay's trade deficit trebled during the first eleven months of 2008 compared to the same period in 2007, although November registered a slight ease in the imports' strong annual impetus, according to the latest release from the Central Bank.
Thursday, January 29th 2009 - 20:00 UTC
Uruguay lamb exports reach 19.647 tons to October 2008

Uruguay mutton and lamb exports totaled 19.647 tons in the first ten months of 2008, mainly to Mercosur, European Union and the Middle East, according to reports from the country's National Meat Institute.
Wednesday, January 28th 2009 - 20:00 UTC
Germany agrees on Merkel's “most difficult decision”

Germany's cabinet sealed a multi-billion stimulus package on Tuesday aimed at hauling Europe's biggest economy out of what is feared could be its worst slump for six decades.
Wednesday, January 28th 2009 - 20:00 UTC
Partisan support for US economy recovery plan flags

US President Barack Obama has called for urgent action on his 825 billion US dollars economic recovery plan, saying the American people expect it. Republican lawmakers are increasingly vocal in opposing the bill, complaining it is too expensive and unworkable.
Wednesday, January 28th 2009 - 20:00 UTC
Spanish bank Santander will pay back for Madoff

Two law firms have filed a class action lawsuit in the United States against Spain's Banco Santander and one of its subsidiaries to recover money lost in an alleged $50 billion Ponzi scheme orchestrated by U.S. financier Bernard Madoff.
Wednesday, January 28th 2009 - 20:00 UTC
Mexican migrant remittances fall for first time on record

Mexican migrant remittances fell in 2008 for the first time on record, Mexico's central bank said Tuesday. Remittances are Mexico's second-largest source of foreign income after oil and they plunged 3.6% to 25 billion US dollars in 2008 compared to 26 billion for the previous year.
Wednesday, January 28th 2009 - 20:00 UTC
Fed pledges to keep exceptional “low interest rates”

The United States Federal Reserve pledged to keep interest rates at “exceptionally low levels,” and use “all available tools” to promote the resumption of sustainable economic growth, as it warned that the outlook for the world's largest economy has weakened further in recent weeks.
Wednesday, January 28th 2009 - 20:00 UTC
IMF forecasts UK economy to contract 2.8% this year

The United Kingdom is expected to suffer the worst slump of all advanced nations in the “deepest recession since the Second World War”, according to the latest International Monetary Fund (IMF) World Economic Outlook.
Wednesday, January 28th 2009 - 20:00 UTC
Credit rating agencies admit errors before UK Parliament

Credit and risk rating agencies have admitted errors were made when assessing some of the financial instruments that have been blamed for the credit crunch. Representatives of the three main agencies - Standard & Poor's, Fitch, Moodys - were grilled by the House of Commons Treasury Select Committee