International

Monday, February 18th 2008 - 21:00 UTC
Northern Rock PLC quagmire brings back nationalization oldie

Struggling bank Northern Rock PLC will be nationalized after the British government rejected two private takeover bids, Chancellor of the Exchequer Alistair Darling said Sunday. Darling told a news conference that the ailing mortgage lender would be placed under temporary public ownership because both private proposals had failed to meet the government's criteria for protecting taxpayers.
Monday, February 18th 2008 - 21:00 UTC
Hammerhead shark joins the red list of globally endangered

Populations of tiger, bull, dusky and other sea sharks have plummeted by more than 95% since the 1970s, according to an expert from the World Conservation Union. But ongoing efforts to identify shark “hotspots” across the oceans could help improve their chances of survival in future.
Monday, February 18th 2008 - 21:00 UTC
Subprime blues: Qatar sovereign fund buys into Credit Suisse

The Qatar Investment Authority purchases shares from Credit Suisse and is planning to invest up to 15 billion US dollars in European and US banks in the next twelve months, announced Monday Qatar Prime Minister according to Bloomberg News.
Monday, February 18th 2008 - 21:00 UTC
Far East steelmakers agree to pay 65% more for iron ore

Japanese and South Korean steel mills have agreed to pay Brazilian miner Vale do Rio Doce 65% more for iron ore this year. Japan's Nippon Steel and South Korea's Posco said they would pay Vale 78.90 US dollars a ton from April.
Friday, February 15th 2008 - 20:00 UTC
China's trade surplus in January jumps beyond all forecasts

China's trade surplus soared 22.7% in January as the economy continued to boom despite efforts to cool the rate of growth, official figures have shown. The gap between what China exports and what it imports grew to 22.7 billion US dollars last month, 15.9 billion a year earlier.
Friday, February 15th 2008 - 20:00 UTC
Most vulnerable populations hit by soaring cereal prices

Soaring international cereal prices and freight rates are projected to increase import bills for the world's poorest countries 35% for the second year running affecting the most vulnerable populations, points out FAO in its latest Crop Prospects and Food Situation report.
Friday, February 15th 2008 - 20:00 UTC
FAO addresses fishing of fragile deep sea species and habitats

Fifty-three countries and the European Community have begun discussions in Rome on how to better protect fragile deep sea fish species and habitats from irresponsible fishing practices.
Friday, February 15th 2008 - 20:00 UTC
First WTO defeat for China over foreign made car parts

China has experienced its first defeat at the World Trade Organization (WTO), in a case referred to restrictions on the importation of foreign-made car parts. Upholding a complaint from the European Union, Canada and United States, the preliminary WTO finding agrees that current Chinese practice is protectionist.
Friday, February 15th 2008 - 20:00 UTC
Euro zone growth outpaced the US; first time since 2001

An initial estimate shows that Euro zone economic growth dipped last year to 2.7%, but still easily outpaced the US economy for the first time since 2001. The rate marked only a marginal slowdown from 2006 when the Euro zone economy grew by 2.8%. The US economy slowed to 2.2% in 2007.
Thursday, February 14th 2008 - 20:00 UTC
Rio Tinto forecasts continued bull market for metals in 2008

Mining giant Rio Tinto expects commodity prices to remain historically high in 2008 and well beyond in spite of the US economic slowdown, said on Wednesday chief economist Vivek Tulpule.