The U.S. GDP in the I quarter of 2009 decreased by 5.5 per cent according to the final data. The data was presented on Thursday, June 25, by the U.S. Department of Commerce. Analysts expected that the decline in GDP would be about 5.7 per cent. That was the number that previously was reported. The Read more
American auto concern Ford, the only one of the Detroit three which was able to avoid bankruptcy, will still receive almost 6 billion U.S. dollars from the government. That, however, is not for the purpose of saving the company from bankruptcy: Ford will receive funding for the development of «green» technology. Analysts, however, note that Read more
Economics of the EU can not cope with the sharp increase of government expenses directed at combating the crisis and maintaining the growing number of unemployed, said the latest report of the European Commission. The Commission calls on EU countries to sharply tighten financial discipline so that the economic growth does not stall when the Read more
The optimism of the global investors lasted only a few months. This week, to concerns about the global economy returned to the markets once again. Now, optimism is not enough for market participants, for positive attitudes they need economic data, confirming the end of the recession and early recovery of world economy, transmits Reuters. However, Read more
ZeniMax Media, which is the parent company of Bethesda Softworks, the developer of computer games TES and Fallout 3, announced about the acquisition of a not less famous and serious company IDSoftware, which is the developer of Doom, Wolfenstein and RAGE. However, the new acquired company did not not become a place for innovations or Read more
Russia and Venezuela signed an agreement establishing a joint bank with an authorized capital of up to 4 billion U.S. dollars some days ago. The document was signed by the outcome of the negotiations that were conducted between the Prime Minister of the Russian Federation Vladimir Putin and the Venezuelan Vice President Ramón Alonso Karrisalesa, Read more
The U.S. Congress is seriously considering that it should establish new management service rates, which are to be fees that sellers must pay to those banks that issue credit cards. In the case of this solution it will not have the best impact on banks that will receive such remuneration, transmits Reuters. Experts say that Read more
Stock trades ended mainly by growth in the United States on June 19. High-tech companies closed with mixed session. Quotations of the world’s largest software manufacturer Microsoft Corp. increased by 2.43%, after analysts of the Goldman Sachs Group Inc. recommended to add it to the list of companies whose securities have assured purchase. At the Read more
Venezuelan President Hugo Chavez hopes that the oil prices will increaseto $ 100 per barrel. Thus he has asked for help from Russia. The Venezuelan president wrote a letter to Russian President Dmitry Medvedev, which calls for “the unity of major oil-producing countries”, transmits Associated Press. According to U. Chavez, the Vice-President of Venezuela Ramon Read more
World market prices for oil declined on the basis of bidding at the leading oil exchanges on 19 June 2009. Official prices of oil futures next month of delivery were: in London on InterContinental Exchange Futures – IPE e-Brent Crude Futures Electronic – 69,19 (-1,87) $ / barrel. in New York for the New York Read more
Pharmaceutical Industry of the United States is prepared to spend 80 billion dollars over 10 years for the reform of American health care, which is being developed by the administration of U.S. President Barack Obama. Democrat Senator Max Bokus has managed to negotiate with pharmaceutical associations on the bill on the reform to transfer part Read more
Chinese automobile corporation Geely Automobile Holdings has reached a preliminary agreement in buying Volvo from the American company Ford Motor Co. According to Chinese media, the value of the transaction will be no less than $ 3 billion. In case of success Geely will model Volvo XC90 at a factory in Guangzhou. According to expert Read more
The day of the final payment came for ten American banks: paying 68 billion U.S. dollars, they gained freedom. Thus, returning the dept of the government financial help within the program of TARP (Troubled Asset Relief Program), these banks are again out of the United States Government control. However, there is much less pleasant news Read more