Economy

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.
Thursday, August 7th 2008 - 21:00 UTC
IMF predicts UK will breach fiscal rules and debt ceiling

The IMF predicted the UK would grow by 1.4% in 2008 and 1.1% in 2009, down from the 1.8% for 2008 and 1.7% for 2009 that it predicted in July.
Thursday, August 7th 2008 - 21:00 UTC
Congress estimates US budget deficit of 400 billion

The United States budget deficit is expected to reach 400 billion US dollars in 2008, according to estimates from the Congressional Budget Office.
Wednesday, August 6th 2008 - 21:00 UTC
Uruguay's strong exchange rate favors most trade partners

Uruguay's exchange rate which has a significant influence for the country's exports has advanced strongly against virtually all of its trade partners with the exception of Brazil.
Wednesday, August 6th 2008 - 21:00 UTC
Peru: highest regional economic growth prospects in 2008/09

The Inter-American Development Bank (IDB) reported that Peru's growth expectations rose from 7.8 to 8.3% in 2008, placing Peru as the country with the highest growth rate in the region.
Wednesday, August 6th 2008 - 21:00 UTC
Inflation and reliable statistics take front stage in Argentina

The controversy surrounding Argentina's Statistics Office, Indec, has been aired by some of the closest allies of President Cristina Fernandez de Kirchner administration who are also questioning the reliability of the reports, particularly those regarding inflation.
Wednesday, August 6th 2008 - 21:00 UTC
US mortgage defaults climb and house prices keep sinking

Freddie Mac, which offers funding for a huge proportion of United States mortgages, has posted a quarterly loss amid continued problems in the housing market. As mortgage defaults climb and house prices sink, it made a loss of 821 million US dollars in the three months to the end of June, down from a profit of 729 million.
Tuesday, August 5th 2008 - 21:00 UTC
Fall in minerals' prices plunges Latam stock markets

Latin American stock markets plunged Monday, led by a slide in Brazilian and Mexican equities as prices for resources sparked a broad sell-off and growing fears about the performance of the US economy.
Tuesday, August 5th 2008 - 21:00 UTC
Europe largest bank suffers 28% fall in half year profits

Europe's largest bank HSBC has warned that conditions in financial markets are at their toughest “for several decades” after suffering a 28% fall in half-year profits. HSBC saw profits drop by 3.9 billion to 10.2 billion US dollars in the first six months of the year, as its North American arm made a 2.8 billion loss.