Brazil fines Chevron over the oil spill

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Source: BBC

Brazil is demanding $10.6bn from Chevron, US oil producer as a compensation for oil spills near the Rio de Janeiro coast that resulted in environmental damage. The officials also demand the court to suspend the operations of Chevron and its contractor Transocean in Brazil. Chevron has already been fined $28m for the spill. Chevron representatives claim they were not notified about the new suit.

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Thu, 15 Dec 2011 15:05:07 GMT

Retail sales in the UK declined in November

Despite aggressive price promotions the amount of UK's retail sales decreased by 0.4% in the last month as compared to October. Excluding sales of fuel, retail sales lost 0.7% on a monthly basis, reported Office for National Statistics. The decline adds pressure on retailers as consumers tend to cut spending while stallholders anticipate jump in sales volume in pre-Christmas time.

Thu, 15 Dec 2011 15:01:54 GMT

German PMI experienced moderate gains

German PMI increased slightly in December. The Markit Flash Germany Manufacturing PMI edged up to 48.1 in December as compared to 47.9 in previous month. The Markit's Germany Composite Output Index, gauge of private sector activity also advanced to 51.3 from 49.4 in November. The increase is inspiring but it cannot rescue the economy severally impacted in Q4, said Tim Moore, senior economist at Markit.

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