Sunday, February 3, 2008
Business - Economics World
| US sees job cuts as economy cools The US has seen the first decline in employment since August 2003, in a fresh sign that a recession is looming. US-Russia economy talks planned The US and Russia are to begin formal economic talks at ministerial level, the US embassy in Moscow says. Eurozone inflation at new record Eurozone inflation surges to a new record in January at 3.2%, putting pressure on the European Central Bank to take action to curb it. German jobless rate falls again Germany's unemployment rate falls in January, but retail sales are down, official data shows. Brewers warn of consumer slowdown The brewers Fuller, Smith & Turner and Greene King both warn of the impact of the consumer slowdown. Credit crisis rocks bond insurer Major bond insurer MBIA posts its biggest ever loss for a three month period last quarter. Sharp fall in commercial property The value of UK commercial property fell by a record amount in the last three months of 2007, according to IPD. Indian interest rates unchanged India's central bank keeps interest rates on hold, saying inflation is still the main threat. Rwanda opens own stock exchange Rwanda launches a stock exchange as the country still struggles to rebuild its economy after the 1994 genocide. Date set for first Darling Budget Chancellor Alistair Darling will deliver his first Budget on 12 March, the Treasury announces. Senate snag delays US rescue plan The Senate Finance Committee passes a different stimulus package to the Bush Administration, setting up a possible conflict. Fed cuts US interest rates to 3% The US Federal Reserve lowers interest rates to 3%, its second cut in nine days, as it seeks to ward off a recession. Food warnings amid China freeze China struggles to cope with its worst snowfall in years, as officials warn of catastrophic damage to crops. US economic growth drops sharply US economic growth drops to a weaker-than-expected annual rate of 0.6% in the final quarter of 2007. Gloomy Christmas for US consumers Financial pressures hit US consumers and spending slumps to a 15-month low in December, data shows. |
posted by ctsasikumar at 8:00 PM
