Economy

Friday, August 31st 2007 - 21:00 UTC
Bernanke and Bush: no interest rate cuts to bail out investors

Chairman Ben Bernanke offered no clear signal that the Federal Reserve is poised to cut interest rates in a speech to central bankers on Friday, even as he reaffirmed its commitment to take into account the likely effects of financial market turmoil on the economy.
Thursday, August 30th 2007 - 21:00 UTC
Fed prepared “to act as needed” to mitigate adverse effects

Ben Bernanke said in a letter to an influential New York Senator that the Federal Reserve is ready “to act as needed” to help the US economy if the current market turmoil spills over into the broader economy.
Thursday, August 30th 2007 - 21:00 UTC
Mixed trading in global markets on hopes of lower interest rates

United States shares recovered Wednesday almost all of Tuesday's heavy falls with the Dow Jones index gaining 1.9% as investors looked to pick up bargains. Increased hopes that the Federal Reserve could cut interest rates following a letter from Chairman Ben Bernanke buoyed investors
Thursday, August 30th 2007 - 21:00 UTC
US economy expands 4% in Q2 boosted by exports

Improved trade and investment figures helped the US economy grow at an annual rate of 4% in the second quarter, according to the latest release from the Commerce Department.
Wednesday, August 29th 2007 - 21:00 UTC
Global markets react fearful of big banks performance

Wall Street shares cast a shadow over global stock markets again after warnings that the problems in credit markets will hit big banks' profits. The Dow Jones suffered its biggest fall since 9 August on Tuesday, closing down 280.3 points or 2.1% at 13,041.9.
Wednesday, August 29th 2007 - 21:00 UTC
Mercosur received 300 billion in foreign direct investment

Mercosur member countries received 300 billion US dollars in foreign direct investments between 1990 and 2004, reported the United Nationd Economic Commission for Latinamerica and the Caribbean, Cepal.
Wednesday, August 29th 2007 - 21:00 UTC
Argentina trusts China will not adopt trade counter measures

Argentina trusts China will not adopt reprisals following the latest trade restrictions on imports recently decided by President Nestor Kirchner's administration and which affect many Chinese goods, Argentine Secretary of Commerce Alfredo Chiaradía said on Wednesday.
Wednesday, August 29th 2007 - 21:00 UTC
China anti-corruption campaign weeds out Finance minister

China's Finance Minister Jin Renqing has been transferred to a government think-tank and will be replaced by the country's top tax collector, confirmed on Wednesday Beijing sources following press reports.
Monday, August 27th 2007 - 21:00 UTC
Venezuelan Funding to Latin America

Laid-off Brazilian factory workers have their jobs back. Nicaraguan farmers are getting low-interest loans. Bolivian mayors can afford new health clinics.
Monday, August 27th 2007 - 21:00 UTC
Sub-prime mortgages default “bigger threat than terrorism”

The risk of massive defaults on sub-prime mortgages and heavy debts now poses a bigger threat to US economic prosperity than terrorism, a panel of US business economists said Monday.