Economy

Saturday, February 2nd 2008 - 20:00 UTC
Chile with record fiscal surplus in 2007: 8.7% of GDP

Chile finished 2007 with a record fiscal surplus of just under 14.5 billion US dollars, government officials acknowledged Wednesday. This figure represents 8.7% of Chile's overall GDP, which is also an all-time record.
Friday, February 1st 2008 - 20:00 UTC
Climate tests China's power; concern over food supplies

With forecasts of more snow and ice, chaos in the transport and energy systems that has left millions stranded or without electricity and water, Chinese authorities are desperately trying to convince people the situation is under control.
Friday, February 1st 2008 - 20:00 UTC
Brazil “optimistic” about its 5% growth estimate for 2008

Brazil's Finance Minister Guido Mantega said that “for the moment” there's no reason to change the country's growth estimate of 5% for 2008, in spite of global recession fears, which he believes will impact most on developed countries.
Thursday, January 31st 2008 - 20:00 UTC
US economy and consumer confidence weakening rapidly

United States economic growth fell sharply in the last three months of 2007 as the credit crunch took effect, according to the latest figures from the Department of Commerce. Overall growth rate in 2007 was 2.2%, the weakest since 2002.
Thursday, January 31st 2008 - 20:00 UTC
FBI and SEC probe into the sub prime mortgage crisis

The FBI is investigating at least fourteen companies embroiled in the sub-prime mortgage crisis as part of a crackdown on improper lending and inside information according to The Wall Street Journal.
Thursday, January 31st 2008 - 20:00 UTC
Argentina reopens export registries for wheat and corn

Argentina announced this week the reopening the wheat and corn export registries, a measure that had an immediate impact in the US markets of Chicago and Kansas City.
Thursday, January 31st 2008 - 20:00 UTC
Australia preparing to plant bumper wheat crop in 2008

High prices around the world are encouraging farmers to plant more grain and Australia is preparing to plant a bumper wheat crop in 2008 following last year's disastrous drought that drastically slashed yields.
Thursday, January 31st 2008 - 20:00 UTC
UK unveils plan to prevent repeat of a Northern Rock run

The British government unveiled plans this week to give authorities the power to swiftly seize control of a failing bank as part of an overhaul of banking laws to prevent a repeat of the run on mortgage lender Northern Rock PLC.
Wednesday, January 30th 2008 - 20:00 UTC
Argentina's statistics reliability again on the spotlight

Inflation in Argentina allegedly reached 22% in 2007 according to a group of displaced experts from the country's Statistics and Census Institute, Indec which has been at the centre of an acrimonious and controversial dispute between the legally autonomous organization and the Kirchner administrations.
Wednesday, January 30th 2008 - 20:00 UTC
Fed cuts rate to 3%, but negative US data softens impact

The Federal Reserve has cut interest rates for the second time in nine days in a further attempt to keep the United States economy from entering a recession. However a barrage of negative data on US growth, housing and employment seems to have watered the reaction from markets.