Economy

Monday, May 5th 2008 - 21:00 UTC
London's luxury rentals get an unexpected boost

London's luxury rental market, already strong and becoming stronger, is getting a further boost from an unexpected source: the U.S. credit crunch.
Sunday, May 4th 2008 - 21:00 UTC
US Citibank says Argentina's economy is “getting muddy”

In a report limited to top clients US Citibank forecasted last week that Argentina probably faces “an inflation acceleration accompanied or preceded by a flight of capital, leading to a forced landing”, if the current administration refuses to take measures to contain inflation.
Friday, May 2nd 2008 - 21:00 UTC
US judge freezes 16 billion in Argentine sovereign bonds

A United States judge granted on Wednesday a request by bondholders suing Argentina to extend a freeze on as much as 16 billion US dollars in sovereign bonds issued by the country and which now held by the Depository Trust Co. in New York.
Thursday, May 1st 2008 - 21:00 UTC
US mortgages rot deep rooted in German banks

The European Union on Wednesday approved a German bailout of WestLB, a regional bank that lost billions from US mortgages gone badly. Germany can now put up 5 billion Euros to help the bank ride out its exposure to the subprime banking crisis.
Thursday, May 1st 2008 - 21:00 UTC
Inflation, the main concern for majority of Argentines

Inflation has become the main concern of a majority of Argentines, leaving aside other issues such as insecurity and poverty according to the latest public opinion polls from Ibarometro and Hugo Haime & Associates, released this week in Buenos Aires and which refers to the second half of April.
Wednesday, April 30th 2008 - 21:00 UTC
Uruguay anticipates commodities export boom to continue

Uruguay's Economy minister Danilo Astori said there's no indication forecasting “the fall of Uruguayan exports international prices” in the framework of the current global surge of commodity prices.
Wednesday, April 30th 2008 - 21:00 UTC
Fed cuts rate to 2%; forecasts soft growth in next quarters

The United States Federal Reserve cut on Wednesday its key interest rate 25 points from 2.25% to 2% as it aims to avoid a possible US recession. It is the seventh rate cut since last September, when the rate was cut from 5.25% to 4.75% and in the range of what markets were expecting.
Wednesday, April 30th 2008 - 21:00 UTC
Investment grade for Brazil; stock market balloons 6.3%

Brazil's Ibovespa stock exchange index jumped to a record on Wednesday after Standard & Poor's unexpectedly raised the country's credit rating to investment grade. S&P Ratings Services Brazil's debt rating announcement from BB+ to BBB- sent domestic stocks soaring 6.3% hitting a new intraday record of 67,854.
Wednesday, April 30th 2008 - 21:00 UTC
US households spending grows the slowest since 2001

The United States economy expanded at an annual rate of 0.6% in the first quarter of 2008, exceeding analyst expectations of an annualized growth rate of 0.2%.
Tuesday, April 29th 2008 - 21:00 UTC
EU expects slowdown and higher inflation in 2008/09

The marked slowdown in global activity, United States on the brink of recession and persisting financial turmoil are expected to have an impact on the European Union in the next 24 months with slower economic growth and higher inflation.