24 hours of news in 240 words! An economic snapshot number 8!

For December 27^th

3:31 a.m.  China has gained access to, potentially, 87 million barrels of oil after having an exploration bid approved by Afghanistan oil, which will allow them to extract the Afghan oil.

4:47 a.m.  South Koreas consumer confidence, having been hurt by fears of its economy and the Eurozone crisis, has had its worst fall in 9 months.

6:47 a.m.  After China and Japan’s currency swap agreement, India and japan are set to unveil a similar plan.

Record EU cash deposits amount to 412 billion euros!

8:09 a.m.  It’s been announced that Chinese industrial firms’ profits have risen only by 24.4% which is 0.9% less than last year.

11:14 a.m. Petroplus shares have fallen by 40%, meaning an 80% drop from last year, after a credit freeze of $1billion.

0:33 p.m.  Over 140 small businesses in Tees Valley have been given grants of up to £3,500 from UK Steel Enterprise.

3:51 p.m.  House prices in US fell in October by 1.2% despite record low mortgage interest rates.

5:11 p.m.  Tokyo Electric Power Company has been requested, by Japan’s energy minister Yukio Edano, to implement temporary state control.

6:25 p.m.  The European Central Bankhas recorded record cash deposits from European bank, amounting to €412billion.

8:15 p.m.  Sears and Kmart to close 120 stores after its shares have fallen by 27%.

11:36 p.m.  The US consumer confidence has risen for the second month in a row after rising nearly 10 points to 64.5 to 55.2 in December.