Economy

Tuesday, December 23rd 2008 - 20:00 UTC
Argentines most optimistic global citizens on 2009

Following a year full of political events and tension, basically the several month-long conflict between the Argentine government and farmers, Argentines are among the most optimistic about 2009 according to a world public opinion poll from TNS Gallup.
Tuesday, December 23rd 2008 - 20:00 UTC
Champagne sales down for the first time in 20 years

Champagne sales during the first ten months of 2008 indicate a 4.9% drop following a record 338 million bottles sold in 2007, according to France's champagne wine board, CIVC. October was particularly significant with 23% less bottles leaving France's main cellars compared to a year ago.
Tuesday, December 23rd 2008 - 20:00 UTC
Caterpillar slashing white-collar pay and planning job cuts

Caterpillar Inc, the world's largest maker of heavy construction and mining equipment, said Monday it is cutting white-collar pay by up to 50% and offering buyouts to as many as 25.000 US employees as it looks to cut costs during what it characterized as “uncertain times.”
Tuesday, December 23rd 2008 - 20:00 UTC
Aerolineas subsidiary in Chile files for bankruptcy protection

Air Comet Chile, a unit of Spanish group Marsans, said on Monday it had filed for bankruptcy protection, less than one week after the Argentine Senate voted to expropriate Aerolineas Argentinas, also owned by Marsans.
Monday, December 22nd 2008 - 20:00 UTC
Beijing and Taipei warm up to face financial downturn

A senior Chinese official has pledged that China will consider any request for assistance from Taiwan during the current global financial downturn.
Monday, December 22nd 2008 - 20:00 UTC
Barclays: Bankers should apologize to regain trust

The credit crunch will last for up to two more years, the boss of Britain's Barclays Bank believes. John Varley forecast that consumers and businesses would struggle to access credit for between one and two more years. He added that banks should apologise to customers to regain their trust.
Monday, December 22nd 2008 - 20:00 UTC
EC warns about temptation of protectionism

European Commission president Jose Manuel Barroso admitted that the current global financial downturn implies a growing risk of increasing protectionism and other forms of limits to migratory and economic policies.
Monday, December 22nd 2008 - 20:00 UTC
Brazil has injected 164 billion US dollars to prop economy

The Brazilian government has injected an estimated 164 billion US dollars, mostly to banks and corporations, since the beginning of the financial downturn, according to the official news agency.
Monday, December 22nd 2008 - 20:00 UTC
Spanish companies secure Gibraltar PW contracts

Chief Minister Peter Caruana has declared that the Gibraltar Government has adjudicated public works contracts to Spanish companies worth an estimated 200 million Euros.

Mr Caruana was speaking at a meeting of Costa del Sol socialists in Malaga where he was the guest of Spain's former Secretary of State for Foreign Affairs Bernardino Leon, widely credited with being one of the intellectual instigators of the (UK, Spain, Gibraltar) Tripartite Forum.
Monday, December 22nd 2008 - 20:00 UTC
Rolls-Royce awarded engine contract for Sea King helicopters

Rolls-Royce has been awarded a £258 million engine contract for the UK's fleet of Royal Navy and Royal Air Force Sea King helicopters over the next 10 years. One of them is permanently based in the Falkland Islands.