U.S. Durable Goods Fall 1 Percent
The U.S. Commerce Department reported that orders for durable goods fell another 1 percent for the month of November following a devastating October which saw an 8.4 percent decline. More
Russia Devalues Rubble for Third Time in a Week
The Russian central bank devalued the ruble for the third time in less than a week forcing the currency down to 28.6862 rubles per U.S. dollar and 40.1539 rubles per one euro. More
IMF Provides Latvia with $2.35 Billion
Latvia will receive £1.59 billion of a planned £7.5 billion rescue plan for several struggling European countries. The money comes with several conditions including cuts in public spending and tax increases. More
Stronger Yen and Weaker Demand Hurts Toyota
Toyota – the world’s second largest automaker – sold 21.8 percent fewer cars during the month of November when compared to the previous year. Falling demand for new cars combined with a stronger yen making cars Toyota exports to other countries more costly, are to blame for what Toyota predicts will be an operating loss of $1.7 billion USD for 2008. More
