Economy

Friday, November 14th 2008 - 20:00 UTC
Pre G20 summit positions sees Brown line up with Bush

British Prime Minister Gordon Brown has urged leaders of the G20 developed and emerging economies to resist calls for protectionism. Speaking in New York ahead of the weekend G 20 summit on the widening global financial crisis PM Brown said protectionism was “the road to ruin”.
Friday, November 14th 2008 - 20:00 UTC
US October retail sales plunge but Wal-Mart's up 2.4%

United States retail sales fell 2.8% in October, the largest drop on record for the month and another sign that US consumers are clamping down amid the faltering economy, the Commerce Department reported Friday.
Friday, November 14th 2008 - 20:00 UTC
Deutsche Bank forecasts 3% growth for 2009 in Uruguay

Deutsche Bank anticipates a significant slowdown of the Uruguayan economy for 2009, with weakening domestic demand growth and investment plus fiscal deterioration. The German bank estimates that Uruguay's GDP will expand 10.5% in 2008 but fall back to 3% next year.
Thursday, November 13th 2008 - 20:00 UTC
Mercosur in “solid position” to address global crisis

Mercosur country members are in a more solid position to face the global financial crisis that rich nations, said Brazilian president Lula da Silva who nevertheless called for a stronger trade links among its members.
Thursday, November 13th 2008 - 20:00 UTC
Latam markets plunge on Paulson's U-turn focus change

Latinamerica's main stock markets ended sharply weaker on Wednesday following on Wall Street and US Treasury Secretary Henry Paulson's announcement that it would re focus the 700 billion US dollars bailout fund.
Thursday, November 13th 2008 - 20:00 UTC
British pound falls to weakest level against US dollar since 2002

The British pound has continued to fall against the US dollar, hitting its lowest rate in six and a half years against the US currency on fears of a deep recession.
Thursday, November 13th 2008 - 20:00 UTC
Germany in recession as economy contracts 0.5% in Q3

Germany has officially entered a recession after government figures showed that Europe's largest economy contracted by 0.5% in the third quarter. This is the second consecutive quarter that the economy has shrunk after a 0.4% contraction in the second quarter.
Wednesday, November 12th 2008 - 20:00 UTC
Falklands' farms go green; 40% organic status by 2010/11

TEN Falklands farms have registered to convert their farm production units to internationally recognised organic status. Should all go well this will mean nearly 40% of the Falkland Islands will have organic status by 2010/11.
Wednesday, November 12th 2008 - 20:00 UTC
Petrobras admits cash strapped to develop ambitious expansion

Brazilian government managed oil company Petrobras announced on Tuesday that net income rose 96% in the third quarter thanks to a stronger US dollar and increased production. However this did not prevent shares from sliding 14% on Wednesday trading because of falling oil prices and the expanding global financial crisis.
Wednesday, November 12th 2008 - 20:00 UTC
Paulson changes focus of bail out plan to spur liquidity

The 700 billion US dollars bail-out package has already “clearly helped stabilise” the financial system, US Treasury Secretary Henry Paulson said on Wednesday but he also warned there were still many challenges ahead and market turbulence was likely to continue for some time.