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Archive for July 31st, 2008Weak dollar, tax rebates bolster US economic growthPosted by UK Economy News
In UK financial news
31Jul 08 A boom in exports and tax rebates to tens of millions of Americans helped bolster US economic growth to an annualized 1.9 percent during the second quarter, a government report showed Thursday.
Read full story Chavez nationalizes Bank of VenezuelaPosted by UK Economy News
In UK financial news
31Jul 08 Leftist President Hugo Chavez on Thursday said he will nationalize the Bank of Venezuela, one of the country's largest, and has asked the bank's Spanish owners, Grupo Santander, for a meeting to set a price for the deal.
Read full story Comments Off British hedge fund invests in WaMu and SovereignPosted by UK Economy News
In UK financial news
31Jul 08 An activist British hedge fund has taken a 6 percent stake in Washington Mutual as the largest U.S. savings and loan tries to rebound from billions of dollars of mortgage-related losses.
Read full story Comments Off ExxonMobil profit hits record on oil surgePosted by UK Economy News
In UK financial news
31Jul 08 Surging oil prices helped US energy giant ExxonMobil to a 14 percent jump in quarterly net profit to 11.68 billion dollars in results Thursday short of most forecasts on Wall Street.
Read full story Comments Off Oil caps biggest monthly loss since ‘04Posted by UK Economy News
In UK financial news
31Jul 08 Oil prices fell more than 2 percent on Thursday, capping the market's worst month in more than three years, as weak U.S. economic data reinforced worries about shrinking demand in the world's top energy consumer.
Read full story Comments Off Lawmakers to Big Oil: invest in alternative energyPosted by UK Economy News
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31Jul 08 Congressional Democrats on Thursday urged big oil companies to invest more of their record profits into boosting U.S. oil production and developing renewable energy instead of buying back their own stock.
Read full story Comments Off Oil prices drop on US growth worriesPosted by UK Economy News
In UK financial news
31Jul 08 Oil prices slid Thursday, a day after a powerful rally, after weaker-than-expected US economic growth stoked fresh concerns about global energy demand.
Read full story Comments Off EDF board backs acquisition of British Energy: sourcePosted by UK Economy News
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31Jul 08 State electricity company Electricite de France could make an official announcement Friday of a bid to acquire nuclear power operator British Energy after the French group's directors backed the move.
Read full story Comments Off Philip Morris International to buy Canada’s RothmansPosted by UK Economy News
In UK financial news
31Jul 08 Philip Morris International said Thursday it has struck a friendly matchup with Canadian tobacco company Rothmans Inc. in a two billion Canadian dollar (1.9 billion) takeover deal.
Read full story Comments Off EU proposes measures to tighten control of ratings agenciesPosted by UK Economy News
In UK financial news
31Jul 08 The European Commission proposed new measures Thursday for supervising credit rating agencies, which have been blamed for contributing to world financial turmoil.
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