Economy

Tuesday, August 12th 2008 - 21:00 UTC
Kirchners' Argentina debt rating drops to Paraguay level

Argentina's foreign debt rating was cut Monday by Standard & Poor's from B+ to B, five levels below investment grade and in line with countries such as Jamaica and Paraguay. Concerns over slower economic growth, lower tax revenue and mounting investor mistrust in inflation data which erodes confidence in the government have been decisive for the new rating.
Monday, August 11th 2008 - 21:00 UTC
Argentina to buy 2008/98 bonds to help calm markets

The Argentine government announced the purchase of 2008 and 2009 bonds, --plus interest payments in advance-- in an effort to ease markets which have shown great anxiety over the political situation and economic slowdown of Argentina, particularly last week.
Monday, August 11th 2008 - 21:00 UTC
High food prices turn Chileans to alternative markets

With food prices rising, a greater number of Santiago households appear to be turning to alternative food markets.
Monday, August 11th 2008 - 21:00 UTC
Euro slides beneath 1.50 US dollars as economy weakens

The Euro slid beneath the 1.50 US dollar Monday to 1.4966 amid concern over the Euro zone economic outlook and confidence that the European Central Bank won't raise interest rates anytime soon.
Monday, August 11th 2008 - 21:00 UTC
Fastest wholesale inflation expansion in China since 1996

China's main measure of wholesale inflation accelerated in July to its fastest since 1996, adding to headaches for the government as it tries to rein in surging consumer prices, according to data reported Monday.
Friday, August 8th 2008 - 21:00 UTC
Bank of England leaves interest rates on hold at 5%

The Bank of England decided on Thursday to keep interest rates on hold at 5% as it struggles to deal with a slowing economy and spiraling inflation. Many reports have shown the economy heading for a significant slowdown or even a recession.
Friday, August 8th 2008 - 21:00 UTC
Euro zone rates unchanged; forecast of “weak mid.2008”

The European Central Bank (ECB) has kept its interest rate benchmark unchanged at 4.25% amid signs of slowing economic growth. ECB President Jean-Claude Trichet said growth in the 15-nation bloc had been “particularly weak” in mid-2008.
Friday, August 8th 2008 - 21:00 UTC
Brazilian inflation eases in July helped by lower food prices

The Consumer Prices Index in Brazil slowed down to 0.53% in July from 0.74% the previous month, according to a release from the Brazilian Geography and Statistics Institute, IBGE.
Friday, August 8th 2008 - 21:00 UTC
UK banks perform poorly and anticipate tougher times ahead

Royal Bank of Scotland (RBS) has posted a pre-tax loss of £691m during the first six months of 2008, the second-biggest loss in UK banking history.
Friday, August 8th 2008 - 21:00 UTC
Argentine bond spreads at their highest since 2005

Argentina's government bond spreads', which gauge investors' aversion to risk, widened sharply on Friday as confidence in the economic outlook and the political management of the country began to be questioned.