Economy

Thursday, January 17th 2008 - 20:00 UTC
South America's soy and sunflower crops below expectations

World soybean supplies are smaller than expected and high exports are cutting stocks in key producing countries, Hamburg-based oilseeds analysts Oil World said.
Thursday, January 17th 2008 - 20:00 UTC
Fidel: Argentina and Brazil “life-jackets” for Latam economy

Cuban leader Fidel Castro, who remains in a convalescent state hospitalized in Havana because of gastrointestinal problems, wrote an essay which became public yesterday where he stated that Argentina and Brazil could “be the life-jackets” of the Latin America region's economy, because of their production of meat and cereals.
Thursday, January 17th 2008 - 20:00 UTC
KO Merrill Lynch rescued by Kuwait, Korea, Saudi & others

Wall Street banking giant Merrill Lynch unveiled on Thursday a huge net loss of 7.8 billion US dollars for 2007, compared to a net profit of 7.5 billion in 2006. The loss includes a massive 14.1 billion write-down on failed investments related to sub-prime mortgages.
Thursday, January 17th 2008 - 20:00 UTC
Fed support for “quick” stimulus support package

Federal Reserve chairman Ben Bernanke on Thursday backed the introduction of emergency economic measures aimed at helping the US economy avoid recession.
Wednesday, January 16th 2008 - 20:00 UTC
Three more bull market years for farm commodities

Agricultural commodity prices will advance for at least three more years, bolstered by demand that's expanding faster than supply, according to a report by Jeffrey Currie from Goldman Sachs Group Inc.'s.
Wednesday, January 16th 2008 - 20:00 UTC
Energy and food push US inflation to highest in 17 years

Inflation in United States for all of 2007 hit the highest rate for 17 years as surging energy and food costs pushed up prices according to the US Labor Department latest release.
Tuesday, January 15th 2008 - 20:00 UTC
Citigroup record losses and cash injection promises

The US largest banking organization Citigroup has reported record 9.83 billion US dollars net loss for the last three months of 2007. Chief executive Vikram Pandit said Tuesday the loss had been caused by 18.1 billion US dollars exposure to bad mortgage debt and was “clearly unacceptable”.
Tuesday, January 15th 2008 - 20:00 UTC
Greenspan says the US is “in or about to enter a recession”

United States is probably in or about to enter a recession, former Federal Reserve Chairman Alan Greenspan said in an interview with The Wall Street Journal. The odds are “not overwhelming but they are marginally in that direction” of recession.
Monday, January 14th 2008 - 20:00 UTC
Bank of America rescues US biggest mortgage lender

One of the leading banks in United States, Bank of America is to take over the country's biggest mortgage lender Countrywide Financial, in a 4 billion US dollars deal.
Monday, January 14th 2008 - 20:00 UTC
WTO members narrow differences in agriculture talks

The World Trade Organization's chief agriculture negotiator said that members have narrowed their differences and made “a lot of progress” in recent talks but more still needs to be done before an agreement is reached.