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Archive for February 20th, 2008Platinum ends streak as gold rises to recordPosted by UK Economy News
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20Feb 08 Gold rose to a record high on Wednesday, reversing early losses as a sharp turnaround in crude oil prices and a U.S. report on rising consumer prices boosted bullion's appeal as a hedge against inflation.
Read full story Fed slashes half point off 2008 US economic growth forecastPosted by UK Economy News
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20Feb 08 The Federal Reserve on Wednesday slashed its 2008 US economic growth forecast by a half point to a range of 1.3 to 2.0 percent, citing the housing slump, tight credit and higher oil prices.
Read full story Comments Off U.S. Stocks rise on Fed forecastPosted by UK Economy News
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20Feb 08 Wall Street stocks rose on Wednesday after a U.S. Federal Reserve forecast of possible lower interest rates and strong profits at Hewlett-Packard helped investors overcome worries about a rise in monthly U.S. consumer prices.
Read full story Comments Off Oil prices hit record 101.27 dollarsPosted by UK Economy News
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20Feb 08 New York oil prices struck a record 101.27 dollars a barrel Wednesday amid renewed global supply jitters, analysts said.
Read full story Comments Off China’s Huawei suffers setback as US IT deal stallsPosted by UK Economy News
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20Feb 08 The global Chinese telecommunications company Huawei suffered a setback Wednesday as US technology group 3Com and private equity firm Bain Capital said their proposed merger plan had hit a hurdle.
Read full story Comments Off Nigeria deal in the offing: Russia’s GazpromPosted by UK Economy News
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20Feb 08 Russian gas giant Gazprom is optimistic that talks with the Nigerian authorities will result in a deal worth more than seven billion dollars, a Gazprom executive said Wednesday in Abuja.
Read full story Comments Off Gold rises to record high on oil rallyPosted by UK Economy News
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20Feb 08 Spot gold surged to a record high in New York Wednesday afternoon trade, driven by inflation worries as crude oil futures rallied to an all-time peak.
Read full story Comments Off Dollar picks up after US inflation dataPosted by UK Economy News
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20Feb 08 The dollar picked up some lost ground Wednesday after higher-than-expected US inflation data undercut the accepted view that the US central bank will be able to continue cutting interest rates sharply.
Read full story Comments Off NY oil prices hit a record 101.27 dollarsPosted by UK Economy News
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20Feb 08 New York oil prices struck a record 101.27 dollars a barrel Wednesday on renewed global supply jitters.
Read full story Comments Off Fed slashes half point off 2008 US economic growth forecastPosted by UK Economy News
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20Feb 08 The Federal Reserve on Wednesday slashed its 2008 growth forecast for the US economy by a half percentage point to a rate between 1.3 to 2.0 percent, citing the housing slump, tight credit and higher oil prices.
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