Economy

Friday, February 8th 2008 - 20:00 UTC
Fed offensive exposes cut-rates/inflation balance dilemma

United States central bank officials came out in what seems a concerted offensive to inject optimism and downplay fears of a full fledged US recession as negative data on the economy keeps piling and a discouraging factor feeling extends.
Friday, February 8th 2008 - 20:00 UTC
US stimulus package passed but political system at its lowest

United States President George Bush announced on Friday that the will sign a 168 billion US dollars economic stimulus package approved by the Senate that he said is needed to help boost the slowing economy. The announcement came as an AP-Ipso public opinion poll revealed an all time low support for President Bush and the US Congress.
Thursday, February 7th 2008 - 20:00 UTC
IMF asks Argentina about inflation data reliability

The International Monetary Fund has asked Argentina's statistics office INDEC to clarify some methodology changes it introduced last year, echoing concerns among economists, statisticians --and public opinion-- over the reliability of the country's inflation data, reported the Buenos Aires press
Thursday, February 7th 2008 - 20:00 UTC
UK cuts rate to 5.25% but warns on inflation and slowdown

The Bank of England cut interest rates 0.25 percentage points to 5.25% amid signs that the UK economy is slowing down. Fears over rising prices and balancing growth and inflation made the Thursday cut relatively soft.
Thursday, February 7th 2008 - 20:00 UTC
Brazil opens wheat market to ensure domestic supply

Brazil has decided to temporarily lift the tariff on imported wheat from outside Mercosur trade bloc, following a request made by mills, a spokesperson at Brazil's Foreign Trade Chamber (Camex) said this week.
Thursday, February 7th 2008 - 20:00 UTC
Euro zone leaves rates unchanged at 4%; inflation priority

Fearing the risks to price stability over the medium term even when the economic fundamentals of the Euro area are sound, the European Central Bank (ECB) Governing Council kept this Thursday interest rates unchanged at 4%.
Wednesday, February 6th 2008 - 20:00 UTC
US dollar no longer king of currencies, not even in NY

In the latest example that the U.S. dollar is not what it used to be some shops in New York City have begun accepting Euros and other foreign currencies as payment for merchandise.
Tuesday, February 5th 2008 - 20:00 UTC
Wall Street: Not-So-Super Tuesday Dow Plunges 370 Points

Stocks slumped for a second straight session Tuesday after Wall Street saw an unexpected contraction in the service sector as evidence that the economy is sinking into recession. The Dow Jones industrial average fell more than 350 points, while bond prices rose.
Tuesday, February 5th 2008 - 20:00 UTC
Brazil could complaint with WTO over EU ban on meat imports

Brazil on Tuesday sharply criticized the European Union's decision to temporarily ban Brazilian beef imports and warned it could file a complaint with the World Trade Organization.
Tuesday, February 5th 2008 - 20:00 UTC
World Bank Appoints Chinese Academic as Top Economist

The World Bank appointed Chinese national Justin Lin as its chief economist, the first time the post has gone to a candidate outside Europe and the U.S.