Economy

Sunday, September 7th 2008 - 21:00 UTC
US government takes control of mortgage guarantee system

President George Bush announced mortgage giants Freddie Mac and Fannie Mae have been taken over because they posed “an unacceptable risk” to the economy. The two companies account for nearly half of the outstanding mortgages in the US, and have lost billions of dollars during the US housing crash.
Sunday, September 7th 2008 - 21:00 UTC
Uruguay's 07/08 sheep farm exports 320 million USD

Uruguay's 2007/08 wool export increased 8.2% in value totaling 60 million kilos while sheep farming exports reached 320 million US dollars (up 8.4%). China remains as Uruguay's main wool client, according to a release from the Uruguayan Wool Secretariat, SUL.
Saturday, September 6th 2008 - 21:00 UTC
Brazil's inflation easing but Central Bank not convinced

Brazil's consumer prices index in August increased at its slowest pace in 11 months, 0.28% following on a significant drop in food prices according to the latest release from the Brazilian Geography and Statistics Institute, IBGE.
Saturday, September 6th 2008 - 21:00 UTC
Rich countries slowdown threatens emerging economies

While developing countries' economies are forecasted to expand by 6% this year that growth could potentially be checked by the slowdown in wealthier nations, according to a new report by the United Nations Conference on Trade and Development (UNCTAD).
Friday, September 5th 2008 - 21:00 UTC
US economy “weak, soft or subdued”, says Federal Reserve

The US economy is facing slow growth and higher prices, according to the most recent survey by the Federal Reserve. Economic activity was “weak, soft or subdued” across the country, said the Fed's latest Beige Book report.
Thursday, September 4th 2008 - 21:00 UTC
Inflation/growth dilemma leaves UK rates on hold at 5%

The Bank of England Monetary Policy Committee (MPC) decided on Thursday to keep interest rates on hold at 5% for a fifth month as it struggles to deal with a slowing economy and soaring inflation.
Thursday, September 4th 2008 - 21:00 UTC
Brazil export beef ton average price soars 50% in 12 months

During January to August 2008, Brazilian beef exports fell 22% year-on-year to 711,716 tonnes swt, while revenue was up 18% as average export prices increased 50% to 3818 US dollars ton swt.
Thursday, September 4th 2008 - 21:00 UTC
Chile's inflation seems to have peaked and begins to yield

Chile's August Consumer Prices Index, CPI, increased 0.9% accumulating 6.5% in the first eight months of the year and 9.3% in the last twelve months (down from 9.5% in July/June), according to the latest release from the National Statistics Institute, INE.
Thursday, September 4th 2008 - 21:00 UTC
ECB admits inflation and low growth prospects will persist

With annual inflation rates likely to remain “well above levels consistent with stability” and the latest data confirming the “weakening of real GDP growth in mid 2008”, the European Central Bank, ECB, has left interest rates unchanged at 4.25%.
Thursday, September 4th 2008 - 21:00 UTC
Lamy confirms global trade talks posted to resume next week

The Doha round global trade negotiations will resume “at senior official level” next Tuesday announced World Trade Organization Director General Pascal Lamy on Thursday in Oslo.