Feb 14th, 2008 by bookie
Links and News [2008.02.14]
  • BBC | US retail sales in surprise rise

    URL: http://news.bbc.co.uk/2/hi/business/7243029.stm

    US retail sales rose 0.3% in January official figures show, bolstered by sales of new cars and petrol.

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  • BBC | Venezuela breaks ties with Exxon

    URL: http://news.bbc.co.uk/2/hi/business/7242133.stm

    Venezuela’s state oil company PDVSA has announced it is suspending sales of crude to Exxon Mobil, in response to legal action brought by the US firm.

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  • UK might be on verge of recession, says King | The Guardian

    URL: http://www.guardian.co.uk/business/2008/feb/14/bankofenglandgovernor.economics?gusrc=rss&feed=networkfront

    The Bank of England governor, Mervyn King, admitted yesterday that the economy might grind to a halt this year – but warned that the continuing risk of inflation made further interest rate cuts unlikely.

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  • BBC | Mortgage insurer reports big loss

    URL: http://news.bbc.co.uk/2/hi/business/7243280.stm

    US mortgage insurer MGIC has reported quarterly losses of $1.47bn (£750m) after being hit by the housing slump and resulting high levels of bad debt.

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  • AlterNet: Obamanomics: Barack Talks Tough on Trade

    URL: http://www.alternet.org/workplace/76970/

    On Wednesday, the first full day of a Wisconsin primary campaign that he hopes will solidify his emerging lead over his once "inevitable" rival, the Illinois senator started in Janesville, where he delivered a rebuke to free-trade policies of the Bill Clinton and George Bush eras that sounded a little like a speech Feingold might have delivered.

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  • BBC | US annual trade deficit narrows

    URL: http://news.bbc.co.uk/2/hi/business/7244993.stm

    The US trade deficit narrowed in 2007, official figures show, as a rise in exports offset the country’s large growth in oil imports.

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  • Fed Chief Hints at Further Rate Cuts – NYT

    URL: http://www.nytimes.com/aponline/us/AP-Congress-Recession-Threat.html?_r=1&ex=1360731600&en=d07fc49ef28946e3&ei=5090&partner=rssuserland&emc=rss&oref=slogin

    Federal Reserve Chairman Ben Bernanke told Congress Thursday that the country’s economic outlook has deteriorated and signaled that the central bank is ready to keep on lowering a key interest rate — as needed — to shore things up.

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  • Think Progress » Bush Administration Hides More Data, Shuts Down Website Tracking U.S. Economic Indicators

    URL: http://thinkprogress.org/2008/02/13/economic-indicators/

    The Bush administration’s latest move is to simply hide the data. Forbes has awarded EconomicIndicators.gov one of its “Best of the Web” awards. Yet the Bush administration has decided to shut down this site because of “budgetary constraints,” effective March 1.

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  • State Intervenes to Prevent Subprime Death: German Government Gives Bank Billion-Euro Bailout – SPIEGEL

    URL: http://www.spiegel.de/international/business/0,1518,535245,00.html

    The German government is to bail out the troubled IKB bank to the tune of 1 billion euros. It is the second cash injection for IKB, one of the many German casualties of the US subprime crisis.

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  • Interview with ‘Lemon Tree’ Director Eran Riklis: ‘There Are So Many Mental Borders in the Middle East’ – SPIEGEL

    URL: http://www.spiegel.de/international/germany/0,1518,535023,00.html

    The "Panorama" section of this year’s Berlin International Film Festival opened with the world premiere of "Lemon Tree," the story of a Palestinian widow’s fight to save her family’s lemon orchard.

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  • Mortgage Crisis Spreads Past Subprime Loans – NYT

    URL: http://www.nytimes.com/2008/02/12/business/12credit.html?_r=1&ex=1360558800&en=e229cc27b728d99c&ei=5090&partner=rssuserland&emc=rss&oref=slogin

    Like subprime mortgages, many prime loans made in recent years allowed borrowers to pay less initially and face higher adjustable payments a few years later. As long as home prices were rising, these borrowers could refinance their loans or sell their properties to pay off their mortgages. But now, with prices falling and lenders clamping down, homeowners with solid credit are starting to come under the same financial stress as those with subprime credit.

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  • BBC | Buffett offers deal to insurers

    URL: http://news.bbc.co.uk/2/hi/business/7241227.stm

    He offered to takeover the insurance of $800bn-worth (£408bn) of local government bonds, currently covered by MBIA, Ambac Financial and FGIC.

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  • The Comeback of the German Dinosaurs: Industry Returns as Economic Engine – SPIEGEL

    URL: http://www.spiegel.de/international/business/0,1518,534811,00.html

    The comeback of German manufacturing contradicts the notion that the future belongs to the service industry. Manufacturing firms are currently the engines of growth in the German economy, even for the service sector.

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One Response

  • Diana says:

    Great site! I will come back frequently.

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