U.S. Economy Contracts by Half a Percent
The US Commerce Department today confirmed that the economy continues to shrink – Gross Domestic Product (GDP) fell by 0.5 percent between July and September, and corporate profits fell by 1.2 percent. More
British Pound Weaker Against Euro
The pound fell against the euro this morning as speculation persists of an impending interest rate cut by the Bank of England. More
Oil Prices Continue to Fall
Despite the latest production cuts from OPEC reducing total daily output by 4.2 million barrels a day from production levels four months ago, prices continue to fall. Prices for US light, sweet crude for February delivery fell 23 cents to $39.68 in Singapore this morning, after falling 6% yesterday. More
