International

Thursday, July 10th 2008 - 21:00 UTC
Bank of England leaves interest rates on hold at 5%

United Kingdom interest rates have been kept on hold at 5% by the Bank of England following its latest meeting. The Thursday decision had been widely expected, despite calls from businesses groups to cut borrowing costs amid growing concerns about the economic slowdown.
Wednesday, July 9th 2008 - 21:00 UTC
“Conflicts of interest” proven in three credit rating agencies

A report into the much-criticized activities of credit rating agencies has found conflicts of interest at the firms it studied. The US financial regulator, the SEC, found that the firms, which rate investments, had broken its rules.
Wednesday, July 9th 2008 - 21:00 UTC
G8 “shared vision” on emissions reduction “highly ambiguous”

Leaders of the world's richest countries meeting in Japan offered some hope on climate change with the announcement of a highly ambiguous “shared vision” to halve global CO2 emissions by 2050.
Wednesday, July 9th 2008 - 21:00 UTC
UN says G8 leaders “missed opportunity” on climate change

Commenting on the outcome of the Group of Eight (G-8) Summit in Japan, the head of the United Nations Environment Programme (UNEP) said the world's richest countries had shown insufficient leadership on climate change.
Wednesday, July 9th 2008 - 21:00 UTC
Fed expects financial turmoil to persist and ready to rescue

The US Federal Reserve may extend into next year a facility that gives investment banks access to emergency cash if the financial turmoil persists. The lending facility was put in place in March to stabilize the financial system as Bear Stearns collapsed.
Wednesday, July 9th 2008 - 21:00 UTC
Trichet warns Euro nations of inflation price spiral

European Central Bank President Jean-Claude Trichet warned Wednesday that Euro nations are already seeing the first signs of an inflation price spiral and called on governments to help contain wage hikes that could fuel further price rises.
Tuesday, July 8th 2008 - 21:00 UTC
Possible G8 major agreement on climate change

Climate change is expected to be the focus of Tuesday discussions at annual talks between the Group of Eight major industrialized nations currently taking place in Japan.
Tuesday, July 8th 2008 - 21:00 UTC
EU ministers iron out differences on immigration rules

European Union ministers agreed in principle to a French plan aimed at reforming immigration rules across the union. At informal talks in Cannes on Monday, ministers from all 27 states signed a draft pact agreeing common rules on the treatment of migrants and asylum requests.
Monday, July 7th 2008 - 21:00 UTC
Food and fuel top of the agenda of G8 summit in Japan

World leaders are preparing to begin a key summit in Japan, with the global economy and its rising food and fuel costs looming as the main issues.
Saturday, July 5th 2008 - 21:00 UTC
China agrees to pay double for BHP Billiton iron ore

Mining giant BHP Billiton has reached a deal with China's largest steelmaker to almost double iron ore prices. Under the agreement, covering contracts for one year from 1 April 2008, BHP will increase its prices by up to 96.5% for deliveries to state-owned Baosteel.