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15 February 2008
BBC | Weak rise in US industrial output
US industrial production rose a meagre 0.1% in January, official figures have shown, the latest indication of weakness in the US economy.
House Holds Bush Aides in Contempt - NYT
The House voted Thursday to hold two of President Bush's confidants in contempt for failing to cooperate with an inquiry into whether a purge of federal prosecutors was politically motivated.
14 February 2008
BBC | US retail sales in surprise rise
US retail sales rose 0.3% in January official figures show, bolstered by sales of new cars and petrol.
BBC | Venezuela breaks ties with Exxon
Venezuela's state oil company PDVSA has announced it is suspending sales of crude to Exxon Mobil, in response to legal action brought by the US firm.
UK might be on verge of recession, says King | The Guardian
The Bank of England governor, Mervyn King, admitted yesterday that the economy might grind to a halt this year - but warned that the continuing risk of inflation made further interest rate cuts unlikely.
BBC | Mortgage insurer reports big loss
US mortgage insurer MGIC has reported quarterly losses of $1.47bn (£750m) after being hit by the housing slump and resulting high levels of bad debt.
AlterNet: Obamanomics: Barack Talks Tough on Trade
On Wednesday, the first full day of a Wisconsin primary campaign that he hopes will solidify his emerging lead over his once "inevitable" rival, the Illinois senator started in Janesville, where he delivered a rebuke to free-trade policies of the Bill Clinton and George Bush eras that sounded a little like a speech Feingold might have delivered.
BBC | US annual trade deficit narrows
The US trade deficit narrowed in 2007, official figures show, as a rise in exports offset the country's large growth in oil imports.
Fed Chief Hints at Further Rate Cuts - NYT
Federal Reserve Chairman Ben Bernanke told Congress Thursday that the country's economic outlook has deteriorated and signaled that the central bank is ready to keep on lowering a key interest rate -- as needed -- to shore things up.
Think Progress » Bush Administration Hides More Data, Shuts Down Website Tracking U.S. Economic Indicators
The Bush administration’s latest move is to simply hide the data. Forbes has awarded EconomicIndicators.gov one of its “Best of the Web” awards. Yet the Bush administration has decided to shut down this site because of “budgetary constraints,” effective March 1.
State Intervenes to Prevent Subprime Death: German Government Gives Bank Billion-Euro Bailout - SPIEGEL
The German government is to bail out the troubled IKB bank to the tune of 1 billion euros. It is the second cash injection for IKB, one of the many German casualties of the US subprime crisis.
Interview with 'Lemon Tree' Director Eran Riklis: 'There Are So Many Mental Borders in the Middle East' - SPIEGEL
The "Panorama" section of this year's Berlin International Film Festival opened with the world premiere of "Lemon Tree," the story of a Palestinian widow's fight to save her family's lemon orchard.
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12 February 2008
Mortgage Crisis Spreads Past Subprime Loans - NYT
Like subprime mortgages, many prime loans made in recent years allowed borrowers to pay less initially and face higher adjustable payments a few years later. As long as home prices were rising, these borrowers could refinance their loans or sell their properties to pay off their mortgages. But now, with prices falling and lenders clamping down, homeowners with solid credit are starting to come under the same financial stress as those with subprime credit.
BBC | Buffett offers deal to insurers
He offered to takeover the insurance of $800bn-worth (£408bn) of local government bonds, currently covered by MBIA, Ambac Financial and FGIC.
The Comeback of the German Dinosaurs: Industry Returns as Economic Engine - SPIEGEL
The comeback of German manufacturing contradicts the notion that the future belongs to the service industry. Manufacturing firms are currently the engines of growth in the German economy, even for the service sector.
09 February 2008
Another Goldman Perk: Sex Changes -- NYT
Fortune.com reported Friday that Goldman added coverage of sex-reassignment surgery to its medical plan last year.
Goldman employees can undergo the procedure, which normally costs anywhere from $5,000 to $150,000, and have it paid for entirely by their medical insurance.
BBC | Venezuela denies oil asset freeze
Venezuela's state-run oil firm has denied that US oil giant Exxon Mobil had won a court order to freeze up to $12bn (£6bn) of its assets.
BBC | Australia releases whaling photos
Australia has released graphic pictures of minke whales caught by a Japanese hunt in the Antarctic.
AlterNet: Meeting of Global Titans Tainted by Tanking Economy
One of the world's best-known CEOs, Microsoft chairman Bill Gates, admitted to fellow participants that he had become skeptical of the very notion of capitalism.
08 February 2008
BBC | Indian economy set to decelerate
India expects its economy to grow by 8.7% in the financial year ending March, the slowest rate of expansion in three years.
07 February 2008
Retailers Report Weak January Sales - NYT
The nation's retailers delivered more evidence of a stumbling economy Thursday, as merchants reported their weakest January performance in nearly four decades, extending a malaise that has deepened since the holiday shopping season.
06 February 2008
The recession watch can now end. It's already here.
A weak report about the services sector has caused some experts to declare that the economy has already entered downturn.
BBC | CIA admits waterboarding inmates
The CIA has for the first time publicly admitted using the controversial method of "waterboarding" on terror suspects.
BBC | US judge reinstates sonar curbs
A judge has ruled that the US Navy must adhere to a curb on the use of strong sonar in waters off California, amid concerns about its effect on whales.
04 February 2008
Democracy Now! | Ralph Nader Launches Presidential Exploratory Committee to Mull '08 Run
The same day John Edwards exited the race, longtime consumer advocate Ralph Nader launched a presidential exploratory committee to decide whether to run as an independent candidate.
