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Archive for August 8th, 2008Dollar jumps against euro as European growth fears mountPosted by UK Economy News
In UK financial news
8Aug 08 The dollar notched up a five-month high against the euro Friday as eurozone growth fears mounted after Italy reported a contraction in its second quarter economic growth.
Read full story Fannie Mae sinks deeper in US housing meltdownPosted by UK Economy News
In UK financial news
8Aug 08 Struggling mortgage finance giant Fannie Mae unveiled Friday a steeper-than-expected quarterly loss and announced dramatic measures to weather the worst US housing slump in decades.
Read full story Comments Off Oil prices slump four dollars as greenback risesPosted by UK Economy News
In UK financial news
8Aug 08 Crude oil prices plunged more than four dollars a barrel Friday as the dollar rose to a five-month high against the euro amid growing recession fears in the eurozone.
Read full story Comments Off Euro slips below 1.50 dollars for first time in 5 monthsPosted by UK Economy News
In UK financial news
8Aug 08 The euro slipped below 1.50 dollars Friday for the first time in five months on fears of a recession in the single currency area after Italy reported a contraction in the second quarter, dealers said.
Read full story Comments Off Iraq resumes oil exploration after 20-year breakPosted by UK Economy News
In UK financial news
8Aug 08 Iraq said on Friday it was resuming exploration of its immense oil reserves after a break of nearly 20 years due to crippling UN sanctions, saying it hopes to double its proven deposits of crude.
Read full story Comments Off RBS falls into huge loss after 11.4-billion-dollar subprime hitPosted by UK Economy News
In UK financial news
8Aug 08 The Royal Bank of Scotland revealed an 11.4-billion-dollar hit from the US subprime crisis on Friday, and a resulting half-year loss among the biggest in British banking history.
Read full story Comments Off India’s top court clears Posco, Vedanta projects in key rulingsPosted by UK Economy News
In UK financial news
8Aug 08 India's top court Friday cleared South Korean steel giant Posco's plan for a 12-billion-dollar plant in a controversial case seen pitting farmers' interests against growing industrial development.
Read full story Comments Off Euro plummets against dollarPosted by UK Economy News
In UK financial news
8Aug 08 The euro skidded lower against the dollar on Friday fears of a recession in the single currency area after Italy reported a contraction in the second quarter, dealers said.
Read full story Comments Off Italian contraction sets eurozone alarm bells ringingPosted by UK Economy News
In UK financial news
8Aug 08 The Italian economy contracted in the second quarter, official data showed on Friday, adding to a deepening sense of gloom about the eurozone economy amid a flurry of bad news for the 15-nation bloc.
Read full story Comments Off Shipbuilder Aker Yards bows to STX bidPosted by UK Economy News
In UK financial news
8Aug 08 Aker Yards shipbuilding said on Friday that a 1.3-billion-dollar bid by STX of South Korea underrated the company's potential, but advised shareholders to accept against a background of weak results.
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