Economy

• Thursday, February 5th 2009 - 20:00 UTC

  Argentina's Jan. car production plunges 54%; exports 60%

  

  Argentina's car production plunged 54.6% in January compared to the same month last year, the Automakers' Chamber (ADEFA) reported yesterday
  
  The number of cars manufactured in the country totalled 18,720, down from 41,228 in January 2008.

• Thursday, February 5th 2009 - 20:00 UTC

  Mining giant BHP Billiton half year profits fall 25%

  

  Global mining giant BHP Billiton, which also has interests in the Falkland Islands oil industry, has seen its half-year profits fall by a quarter, saying it had been hit by “a rapid deterioration in market conditions”.

• Thursday, February 5th 2009 - 20:00 UTC

  Bankers bonus and perks cap controversy reaches UK

  

  UK Business Secretary Lord Mandelson has told the Royal Bank of Scotland that it risks alienating ordinary people if it gave its traders and bosses “exorbitant” bonuses.

• Thursday, February 5th 2009 - 20:00 UTC

  Euro bank says no to “zero rates”; benchmark 2%

  

  The European Central Bank kept interest rates on hold at 2% on Thursday but said it may resume cutting, although zero rates were not “appropriate” for the Euro zone at the moment.

• Wednesday, February 4th 2009 - 20:00 UTC

  Darling raps bankers; demands change of “financial culture”

  British Chancellor of the Exchequer Alistair Darling criticised on Tuesday bank chiefs for failing to flag up the financial difficulties they faced at an earlier stage. Darling said some had wrongly given the impression that the problems afflicting Northern Rock were isolated and would not affect themselves.

• Wednesday, February 4th 2009 - 20:00 UTC

  “Buy American” adds protectionism fears to global crisis

  United States President Barack Obama has said he wants to avoid economic stimulus measures that would signal protectionism or spark a trade war. Mr Obama was responding to international criticism of a “Buy American” clause in the 800 billion US dollars economic recovery package.

• Tuesday, February 3rd 2009 - 20:00 UTC

  UK unions seek disclosure from “nationalized” banks

  

  Banks which have received UK Government help to deal with the financial crisis should be made to reveal full details of their tax haven activities, urged union leaders in Britain, reports The Gibraltar Chronicle.

• Monday, February 2nd 2009 - 20:00 UTC

  Slight increase in Chile's unemployment; Magallanes 2.8%

  Unemployment in the extreme south of Chile, Magallanes Region increased half a percentage point during the last quarter of last year, compared to the previous quarter, but still is one of the lowest of the country according to the latest release from the Statistics Institute, INE.

• Monday, February 2nd 2009 - 20:00 UTC

  January marked Brazil first trade deficit in eight years

  

  Brazil recorded its first monthly trade deficit in almost eight years in January as exports plunged by a record amount on falling prices for the country's commodities, according to the latest release from the Development, Industry and Trade ministry.

• Monday, February 2nd 2009 - 20:00 UTC

  UK paralyzed by snow storm and more forecasted

  

  Tens of thousands of people were left stranded Monday as the heaviest snowfall to hit the United Kingdom in 18 years swept across the country, causing travel chaos and closing thousands of schools. And more snow is on the way. Helen Chivers, a forecaster with the Met Office, said a large area of sleet and snow showers was moving out of France on its way to the UK.