Economy

Thursday, July 10th 2008 - 21:00 UTC
Bank of England leaves interest rates on hold at 5%

United Kingdom interest rates have been kept on hold at 5% by the Bank of England following its latest meeting. The Thursday decision had been widely expected, despite calls from businesses groups to cut borrowing costs amid growing concerns about the economic slowdown.
Thursday, July 10th 2008 - 21:00 UTC
Brazil confirms merger and world's third largest bourse

Brazil's antitrust authority, Administrative Council for Economic Defence, CADE, approved the merger between the Bovespa stock exchange and the BM&F futures market, a spokesman said this week.
Wednesday, July 9th 2008 - 21:00 UTC
Argentina's soy king explains modern farming and taxing

Argentina's major soy businessman Gustavo Grobocopatel said that “modern farming has nothing to do with rich against poor”.
Wednesday, July 9th 2008 - 21:00 UTC
“Conflicts of interest” proven in three credit rating agencies

A report into the much-criticized activities of credit rating agencies has found conflicts of interest at the firms it studied. The US financial regulator, the SEC, found that the firms, which rate investments, had broken its rules.
Wednesday, July 9th 2008 - 21:00 UTC
Fed expects financial turmoil to persist and ready to rescue

The US Federal Reserve may extend into next year a facility that gives investment banks access to emergency cash if the financial turmoil persists. The lending facility was put in place in March to stabilize the financial system as Bear Stearns collapsed.
Wednesday, July 9th 2008 - 21:00 UTC
Argentine gov. planning to take over Aerolíneas

The Argentine government has plans to intervene in the administration of the country's largest airline and flag carrier Aerolineas Argentinas, which has been hit by a series of labor disputes, Buenos Aires media reported on Wednesday.
Wednesday, July 9th 2008 - 21:00 UTC
Trichet warns Euro nations of inflation price spiral

European Central Bank President Jean-Claude Trichet warned Wednesday that Euro nations are already seeing the first signs of an inflation price spiral and called on governments to help contain wage hikes that could fuel further price rises.
Tuesday, July 8th 2008 - 21:00 UTC
June, worst month for Argentine retailers since 2002 crisis

Argentine retail sales at national level “plummeted” in June falling 18.3% compared to the same period a year ago, the worst performance since the country began recovering from the 2001/02 collapse of the economy according to a release from the Argentine Confederation of Small Enterprises, CAME.
Monday, July 7th 2008 - 21:00 UTC
Officials call on Cubans to work and embrace economics

Cuban vice president Esteban Lazo called on his fellow Cubans to understand that “work is essential” and that “we must accept we lack the need for an extraordinary economic culture”.
Monday, July 7th 2008 - 21:00 UTC
US food price hikes “pale” in comparison to energy prices

In United States as in the rest of world, consumers have suffered the impact on rising food and fuel prices of adverse climate, larger global demand and roaring speculation. But even so on average, US consumers still spend 10% of their income on food, which is possibly the lowest in the world according to the latest surveys from the American Farm Bureau Federation, AFBF.