The price of crude oil once again seems to be defying the economic forces of gravity.
There’s plenty of evidence to suggest prices should be falling. In industrialized countries, storage tanks are overflowing, with enough supplies to cover 62 days of use, about 10 days more than usual. Economic weakness continues to depress world demand, which [...]
By PAN PYLAS
AP Business Writer
LONDON (AP) – Most European and U.S. stock indexes fell modestly Friday as early gains following an U.S. jobs report that was no worse than expected dissipated amid ongoing fears about the state of the world’s largest economy.
In Europe, Britain’s FTSE 100 index was essentially flat, rising 0.02 percent at 3,530.73 [...]
SANTIAGO, Chile (AP) – Chile’s economy shrank 1.4 percent in January compared with the same month a year earlier, the central bank reported Thursday.
In a statement, the bank blamed the decline mainly on an 8.9 percent drop in industrial production coupled with a slowdown in commercial activity. It did not give more details.
The bank is [...]
By NATALIYA VASILYEVA
AP Business Writer
MOSCOW (AP) – Russia’s finance minister on Monday predicted the national economy will grow by 2 to 3 percent in 2010, after a decline this year, but warned that Russia is not likely to profit from lofty oil prices in the near term.
Government officials previously have said the economy is likely [...]
Associated Press
BEIJING — Premier Wen Jiabao warned that the impact of the global financial crisis was still spreading in China and the country faces the long and arduous task of combating its effects.
The official Xinhua News Agency quoted Wen as saying Saturday that China “must strengthen confidence in the face of the crisis and be [...]
MOSCOW (AP) – Russian Prime Minister Vladimir Putin on Friday sought to calm fears about the country’s sharp economic downturn, saying this year will bring “no catastrophe” to the economy.
Putin made the statement during a meeting with lawmakers from the Kremlin-leaning United Russia party, according to Russian news agencies.
“This year will be difficult, but there [...]
By MATTHEW LEE
Associated Press Writer
BEIJING (AP) – U.S. Secretary of State Hillary Rodham Clinton attended church Sunday after wrapping up talks with Chinese leaders focused on economic and climate change cooperation rather than differences on human rights.
The service at the Beijing Haidian Christian Church in the western part of the capital and a meeting with [...]
By E. EDUARDO CASTILLO
Associated Press Writer
MEXICO CITY (AP) – Mexico’s central bank cut its benchmark interest rate by a quarter point Friday to boost the country’s sagging economy, which has been pummeled by the U.S. recession.
The cut to 7.5 percent was 25 basis points less than expected, but nonetheless sent the peso tumbling to a [...]
MEXICO CITY (AP) – Mexico’s central bank lowered interest rates a quarter point Friday to help boost the country’s sagging economy.
It was the second time in a little over month that the central bank cut interest rates.
It lowered its benchmark lending rate 50 basis points to 7.75 on Jan. 16, the first interest rate cut [...]
BERLIN (AP) – German Chancellor Angela Merkel will host a meeting of key European leaders in Berlin on Feb. 22 to help prepare for an April international summit on combating the financial crisis, a spokesman said Friday.
Merkel will welcome the leaders of Britain, France, Italy, Spain, the Netherlands, Luxembourg and the Czech Republic to the [...]
