The European Central Bank in Frankfurt confirmed in a Friday afternoon statement that its chief economist and executive board member Jürgen Stark had resigned due to personal reasons.
A group representing minority shareholders asked Spain’s CNMV stock market regulator to investigate the recent move by Mexican state oil company Pemex to double its stake in Spanish energy giant Repsol-YPF.
The UK will reinforce and expand its diplomatic presence in Latin America beefing up embassies and reopening others that have been closed in recent years, said Foreign Secretary William Hague.
The outlook for economic growth in developed countries has got much worse in the last three months, the OECD said Thursday, urging leaders of G7 and G20 countries to send strong signals to restore flagging confidence.
The Euro fell to a two-month low against the dollar on Thursday after the European Central Bank signalled a pause in its interest-rate tightening cycle that began just five months ago.
World food prices remained virtually unchanged between July and August 2011 according to the FAO Food Price Index published Thursday. The Index averaged 231 points last month compared to 232 points in July. It was 26% higher than in August 2010 but seven points below its all-time high of 238 points in February 2011.
Fitch Ratings warned that it might downgrade China's credit rating within two years as the country's banks struggle with debt loads following a lending surge to help lift the economy during the 2008 financial crisis.
China and the UK are to develop an offshore trading hub for the Yuan based in London. UK Chancellor George Osborne confirmed the agreement after meeting with Chinese vice-premier Wang Qishan in London.
UK interest rates have been held at a record low of 0.5% by the Bank of England's Monetary Policy Committee (MPC). Concerns about the strength of the UK economic recovery meant economists had expected rates to remain unchanged as they have been since March 2009.
Mosquitoes can rapidly develop resistance to bed nets treated with insecticide, a new study from Senegal suggests. In recent years the nets have become a leading method of preventing malaria, especially in Africa.