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Archive for September 7th, 2008When to cut? OPEC struggles with falling oil pricesPosted by UK Economy News
In UK financial news
7Sep 08 The question facing the OPEC oil producer group which meets Tuesday is when, not if, to cut its oil production target as crude prices slide in the face of weakening economic growth, analysts say.
Read full story FACTBOX-Five facts about new Fannie and Freddie CEOsPosted by UK Economy News
In UK financial news
7Sep 08 New chief executives were named for Fannie Mae and Freddie Mac on Sunday under a federal takeover plan to keep the largest U.S. mortgage finance companies from going under.
Read full story Comments Off Libya says OPEC quotas should be respectedPosted by UK Economy News
In UK financial news
7Sep 08 Libya's OPEC representative said Sunday that members of the oil producer cartel should respect their quotas, adding that the oil market was oversupplied.
Read full story Comments Off US takes over Fannie, FreddiePosted by UK Economy News
In UK financial news
7Sep 08 The US government took over mortgage giants Fannie Mae and Freddie Mac on Sunday, placing them in a "conservatorship" to help avert a financial system meltdown from the housing crisis.
Read full story Comments Off Munich Re says subprime crisis may aid reinsurer pricesPosted by UK Money News
In UK financial news
7Sep 08 Reinsurance companies may benefit indirectly from the downturn in capital markets that has hit investment income in the sector because it may prevent them from lowering prices for the risk cover they provide to insurers, Munich Re said on Sunday.
Read full story Comments Off Iran wants OPEC output cut to target quotasPosted by UK Economy News
In UK financial news
7Sep 08 Iran said on Sunday that OPEC members should cut output to the agreed target quotas in the face of falling oil prices, two days before the cartel meets in Vienna, state-run IRNA news agency reported.
Read full story Comments Off Morrison to top growth leaguePosted by UK Economy News
In UK financial news
7Sep 08 Wm Morrison Supermarkets is set to post a 19 percent rise in first-half underlying profit on Thursday and confirm it is taking market share from bigger rivals as cash-strapped shoppers flock to its lower price stores.
Read full story Comments Off Iran’s inflation tops 27%Posted by UK Economy News
In UK financial news
7Sep 08 Iran's inflation hit 27.6 percent in the calendar month of Mordad that ended August 21, the central bank said Sunday, as Iranians were again battered by rising prices of basic foodstuffs and goods.
Read full story Comments Off Detroit’s sputtering Big Three turn to Washington for helpPosted by UK Economy News
In UK financial news
7Sep 08 Battered by weak sales, declining market share and miserable credit ratings, Detroit's Big Three automakers are now turning to the US government for help.
Read full story Comments Off Baghdad’s current problem: regulating private powerPosted by UK Economy News
In UK financial news
7Sep 08 Iraq's capital throbs to the hum of thousands of polluting generators, but now the authorities in Baghdad want to regulate the private power network that has developed amid the ruins of the public grid.
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