International

• Tuesday, January 20th 2009 - 20:00 UTC

  Fiat and Chrysler team up to face global car sector purge

  Italian carmaker Fiat and US giant Chrysler have agreed to create a global strategic alliance, the companies said in a statement. Under the terms of the deal, Fiat will get a 35% stake in Chrysler. In return, the US firm will get access to Fiat's fuel-efficient vehicle technologies.It is hoped the agreement will lead to “substantial” savings for Chrysler.

• Tuesday, January 20th 2009 - 20:00 UTC

  Record December inflation fall opens the way for deflation

  United Kingdom deflation fears were heightened after official figures released on Tuesday showed the annual rate of inflation fell at its fastest pace in December since the recession of the early 1990s.

• Monday, January 19th 2009 - 20:00 UTC

  UK unemployment forecasted to soar to 3.4 million

  

  The United Kingdom unemployment will soar to 3.4 million as the financial crisis deepens, experts predicted ahead of official figures set to show the scale of the jobs crisis rocking the economy.

• Monday, January 19th 2009 - 20:00 UTC

  Euro zone economy in recession will begin to recover in 2010

  

  The Euro zone economy will shrink 1.9% in 2009 and grow by only 0.4% n 2010, the European Commission has forecast. The Commission said in a statement that the whole European Union was facing a “deep and protracted recession”.

• Monday, January 19th 2009 - 20:00 UTC

  Arab economic summit in Kuwait to address global recession

  

  The global economic crisis has cost Arab countries 2,500 billion US dollars in the last four months alone, according to Kuwait's foreign minister.

• Sunday, January 18th 2009 - 20:00 UTC

  Descendents of Shackleton's team reach South Pole

  

  Three men with links to Sir Ernest Shackleton have reached the South Pole. Lt Col Henry Worsley, from Hereford, Will Gow, from Kent, and Henry Adams, from Suffolk, arrived on Sunday.

• Sunday, January 18th 2009 - 20:00 UTC

  Bird strike confirmed in US Airways crash

  

  It has been confirmed that a collision with a flock of birds caused a US airliner to lose power and ditch in a New York river just after take-off.

• Friday, January 16th 2009 - 20:00 UTC

  World oil demand forecasted to continue contracting

  

  While oil prices ended this week's trading in the range of 35 US dollars the barrel, the International Energy Agency (IEA) has cut its estimates on world oil demand and for the first time since 1982-1983, expects two consecutive years of contracting demand for crude oil.

• Friday, January 16th 2009 - 20:00 UTC

  Spain admits 2009 recession deepest in half a century

  

  Spain faces its deepest recession in half a century admitted Finance Minister Pedro Solbes anticipating the economy will contract 1.6% this year. In July, the minister had predicted a 1% expansion.

• Thursday, January 15th 2009 - 20:00 UTC

  Former governor Ralph associate fined for inside trading

  

  The inside trading scandal in shares of mining company Monterrico Minerals involving a former Falkland Islands governor came to an end this week when Belgian investor, Erk Boyen was fined £ 176.254 by the UK' Financial Services Authority, reports The Independent in an article from Mathieu Robbins.