Economy

Friday, November 7th 2008 - 20:00 UTC
UK historic Worcester & Spode has gone into administration

An historic British china manufacturer: Midlands-based Royal Worcester & Spode Ltd, which dates back to 1751, employs 388 people in the UK at sites in Stoke-on-Trent, Lymedale and Worcester has gone into administration.
Thursday, November 6th 2008 - 20:00 UTC
Uruguay's exports up 31% but beginning to slowdown

In spite of a record year in export value, Uruguay's overseas sales are beginning to feel the international pinch from a weaker demand and lower prices for commodities according to the release of the latest statistics.
Thursday, November 6th 2008 - 20:00 UTC
Chile's October inflation, the highest since 2002, 0.9%

October consumer prices in Chile increased 0.9%, accumulating 8.5% in ten months and 9.9% in the last twelve months according to the latest release from the country's Statistics Institute, INE. October's increase is the highest for the month since 2002.
Thursday, November 6th 2008 - 20:00 UTC
Unemployment in Spain soars to 12 year high, 11.3%

The number of unemployed people in Spain in October reached a 12-year high of 11.3%, according to the Labour Ministry, the highest level in Europe.
Thursday, November 6th 2008 - 20:00 UTC
Ten month retail inflation in Uruguay reaches 7.98%

Lower prices for food and beverage were not enough to impede Uruguay's October consumer price index from increasing 0.33% pushed by a stronger US dollar and weaker local currency.
Thursday, November 6th 2008 - 20:00 UTC
PM Brown tells banks lower rates must benefit consumers

The Bank of England slashed interest rates to a 53-year low in a dramatic attempt to rescue the UK economy from deep recession. The 1.5 percentage points cut by the Bank's Monetary Policy Committee (MPC) on Thursday is the biggest single move since March 1981 and brings rates to levels not seen since 1955.
Thursday, November 6th 2008 - 20:00 UTC
ECB admits further rate cuts; claims of “too little, too late”

The European Central Bank cut interest rates by 50 basis points to 3.25% on Thursday and signalled another reduction was possible next month, as inflation pressures ease and the Euro zone faces its first recession.
Thursday, November 6th 2008 - 20:00 UTC
IMF: support efforts “take time”; fiscal stimulus needed

The International Monetary Fund World Economic Outlook (WEO) says prospects for global growth have deteriorated over the past month and will slow from 5% in 2007 to 3.75% this year and just over 2% in 2009.
Wednesday, November 5th 2008 - 20:00 UTC
Dramatic drop in maritime transport of commodities, says UNCTAD

A United Nations report released Tuesday shows that international seaborne trade surged to record levels last year but has since declined because of the financial crisis, jeopardizing the health of many developing countries, especially those that depend on commodities.
Wednesday, November 5th 2008 - 20:00 UTC
China, Taiwan sign landmark trade and transport agreements

China and Taiwan signed this week landmark agreements to improve direct trade and transport links, following the highest-level Chinese visit in decades. The agreements are set to triple the number of weekly direct passenger flights and allow cargo shipments between ports in China and Taiwan. They also aim to improve the postal service and food safety.