International

Tuesday, December 2nd 2008 - 20:00 UTC
Another black Monday for the stock markets calendar

Wall Street suffered one of its worst days Monday, slicing 680 points off the Dow Jones industrial average as fears of a recession, or even worse, were confirmed by the latest data. Not only did stocks end their last week's five-day winning streak, they erased more than half the gains and the Standard & Poor's 500 stock index one of the broadest market gauges, lost nearly 9%.
Tuesday, December 2nd 2008 - 20:00 UTC
US cruise vessel outruns hijacking pirates in Gulf of Aden

Pirates chased and shot at a US cruise liner with more than 1,000 people on board but failed to hijack the vessel as it sailed along a corridor patrolled by international warships, a maritime official said Tuesday.
Tuesday, December 2nd 2008 - 20:00 UTC
Melamine scandal virtually grounds China's dairy exports

China's dairy exports have all but ground to a halt following the scandal earlier this year when milk was tainted with the industrial chemical melamine. Data reported in the country's state media suggests that dairy exports fell 92% year-on-year in October.
Tuesday, December 2nd 2008 - 20:00 UTC
Kuwait sovereign fund also interested in Repsol-YPF

The Kuwait Investment Authority, KIA, could rival a bid by Russian oil company Lukoil for the 20% stake in the Spanish oil corporation Repsol.YPF, according to the Finmarket website, which was published in Madrid's ABC newspaper.
Tuesday, December 2nd 2008 - 20:00 UTC
Oil tumbles to 47 USD; call for Russia & Norway to join OPEC

While oil skidded to its lowest level since May 2005 in New York on Tuesday, the head of OPEC (Organization of Petroleum Exporting Countries) said he hopes oil producing nations like Russia will join the organization, or at least agree to output cuts to help spark a rally in prices.
Tuesday, December 2nd 2008 - 20:00 UTC
Unemployment up is Spain: almost 3 million jobless

The number of people filing for jobless benefits in Spain soared to almost 3 million following a 6% rise in unemployment during November. The Labour Ministry said Tuesday that an additional 171,243 people signed on for unemployment benefits last month, bringing the total to 2.99 million.
Monday, December 1st 2008 - 20:00 UTC
Japan imports whale meat from Iceland; first time in 17 years

Japan has bought whale meat from Iceland, the first time in 17 years it has imported the banned meat, according to a Saturday report from Kyodo News agency.
Monday, December 1st 2008 - 20:00 UTC
UK manufacturing slowdown continues to take hold

British manufacturing fell at a record pace in November as the slowdown continued to take hold, the latest figures have revealed.
Monday, December 1st 2008 - 20:00 UTC
World economy heading for first contraction since 1930, warns UN

United Nations said on Monday the world economy faces its worst downturn since the Great Depression. It expects world economic output to shrink by as much as 0.4% in 2009, due to a slump among developed countries - particularly the US and in Europe.
Monday, December 1st 2008 - 20:00 UTC
UK state-control banks mellow home repossession actions

Britain's Royal Bank of Scotland has announced that it will give struggling homeowners at least six months before launching repossession action. The NatWest parent said it was doubling the three-month breathing space currently offered to borrowers who fall behind with mortgage repayments.