Economy

Wednesday, August 20th 2008 - 21:00 UTC
German legislation limits big stakes from sovereign funds

The German government has approved legislation that would enable it to prevent foreign buyers from taking big stakes in key domestic companies.
Wednesday, August 20th 2008 - 21:00 UTC
Argentina economy “more vigorous than ever” says Minister

Argentine Economy Minister Carlos Fernandez told exporters the country's economy is “more vigorous than ever” and confirmed the current “economic productive model”,' one week after the government began buying back its own bonds to shore up waning investor confidence.
Wednesday, August 20th 2008 - 21:00 UTC
Brazil ratifies tough line on inflation and long term growth

Brazil's reference Selic interest rate will only begin to fall when inflation approaches the 4.5% center-point of the government's annual target, Brazilian Finance Minister Guido Mantega said on Wednesday.
Wednesday, August 20th 2008 - 21:00 UTC
Seven out of ten Argentines disbelieve official inflation index

Seven out of ten Argentines don't believe in the official inflation index from the country's controversial statistics office and trust private estimates, according to a public opinion poll released this week in Buenos Aires.
Tuesday, August 19th 2008 - 21:00 UTC
China is considering stimulus package and soft monetary policy

China is considering a stimulus package spending anywhere between the equivalent of 29 and 58 billion US dollars to stimulate the economy and may ease monetary policy towards the end of the year, according to JPMorgan Chase & Co.
Tuesday, August 19th 2008 - 21:00 UTC
Leading economist forecasts collapse of large US bank

The global financial crisis is set to get worse, with a large US bank likely to collapse in the next few months, a former IMF chief economist warned on Tuesday. Kenneth Rogoff's comments came as shares in Fannie Mae and Freddie Mac sank on a report that the home lenders would, in effect, be nationalized.
Tuesday, August 19th 2008 - 21:00 UTC
Russian tycoon denies buying world's dearest villa

Russia's fifth richest man has denied reports originally from the French press that he has bought the world's most expensive home. (Nickel King) Mikhail Prokhorov worth about 22 billion US dollars said he was not the mystery buyer of the southern France property.

The Villa Leopolda in Villefranche-sur-Mer, on the CÃ'te d'Azur, sold for 496m euros ($730m; £392m).
Monday, August 18th 2008 - 21:00 UTC
BHP Billiton: record profits and upbeat about commodities

BHP Billiton Ltd. which is the world's largest mining company has reported a record annual net profit for the year ended June 30 of 15.39 billion US dollars, up 14.7% from the 13.42 billion of the previous year.
Monday, August 18th 2008 - 21:00 UTC
June trade figures confirm EU economy slowing down

The trade deficit of the 15-nation Euro zone shrank sharply in June to 101 million Euros, but failed to meet forecasts, according to data released Monday by Eurostat.
Sunday, August 17th 2008 - 21:00 UTC
NY prosecutors make banks repay billions for misselling

New York State's attorney general has threatened to sue Merrill Lynch for misrepresenting certain debt investments as safer than they were. Andrew Cuomo said that legal action against the US bank was “imminent” after it failed to settle charges of mis-selling with regulators.