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Archive for September 3rd, 2008US auto market fails to come out of skidPosted by UK Economy News
In UK financial news
3Sep 08 Automakers saw another painful slide in US sales in August with consumers cautious amid a weak economy, monthly data showed Wednesday, raising the odds for a government aid plan for the industry.
Read full story Oil prices edge lower as market eyes demandPosted by UK Economy News
In UK financial news
3Sep 08 Oil prices closed modestly lower Wednesday as the market focused on demand amid a slowing global economy and signs that OPEC is under pressure to cut supply.
Read full story Comments Off Oil falls on demand as Gustav threat passesPosted by UK Economy News
In UK financial news
3Sep 08 Oil prices dipped to below $109 a barrel on Wednesday, weighed down by slowing demand in the United States and other consuming nations and signs the U.S. oil sector would recover quickly from Hurricane Gustav.
Read full story Comments Off IMF official says deal on sovereign funds constructivePosted by UK Economy News
In UK financial news
3Sep 08 A top IMF official said Wednesday that a tentative agreement with major sovereign wealth funds would "help secure the global environment for effective and beneficial cross-border investing."
Read full story Comments Off 2 ex-Credit Suisse brokers charged in bln-dlr subprime fraudPosted by UK Economy News
In UK financial news
3Sep 08 Two former Credit Suisse brokers were indicted on fraud charges Wednesday for selling one billion dollars in subprime-related securities disguised as safer investments, officials said.
Read full story Comments Off EU to propose 11-cent price cap for cross-border texts: officialPosted by UK Economy News
In UK financial news
3Sep 08 The EU's telecommunications commissioner has drafted plans to regulate the price of sending cross-border text messages by mobile phones in the bloc with a cap of 11 euro cents (16 dollar cents), an official said Wednesday.
Read full story Comments Off Ford August sales skid 26 percentPosted by UK Economy News
In UK financial news
3Sep 08 Ford Motor Co. said Wednesday its August US sales slid 26.6 percent from a year ago, citing a "weak economy" and sluggish demand for large trucks and sport utility vehicles.
Read full story Comments Off US economy still stuck as inflation heats up: Beige BookPosted by UK Economy News
In UK financial news
3Sep 08 The US economy is sputtering amid weak housing, difficult credit and "retrenchment" in consumer spending, while inflation pressures are high, the Federal Reserve said in its Beige Book report Wednesday.
Read full story Comments Off Airlines to lose 5.2 bln dollars in 2008 on high fuel prices: IATAPosted by UK Economy News
In UK financial news
3Sep 08 Global airlines are expected to post a combined loss of 5.2 billion dollars in 2008 on a "toxic" combination of high oil prices and falling demand, industry association IATA warned Wednesday.
Read full story Comments Off Romanian farmers demand 50-percent cut in fuel pricesPosted by UK Economy News
In UK financial news
3Sep 08 About a thousand farmers protested Wednesday across Romania, driving into the capital with their tractors and lorries to demand a drastic cut in fuel prices, unions said.
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