Stories for May 9th 2007
London is home to the most expensive property in the world, followed by Monaco, New York and Hong Kong, according to estate agent Knight Frank and Citi Private Bank's Wealth Report 2007.
Brazil's TAM Linhas Aéreas and Lan Chile, both airlines with a clear dominating position in their domestic markets have agreed to formalize a business alliance. The agreement to be implemented in the next three months aims to develop partnerships in routes operated in South America, broadening passengers' options to fly to several destinations.
In a move widely expected the United States Federal Reserve kept its main interest rate on hold at 5.25%, but warned that its predominant policy concerns remains the risk that inflation will fail to moderate as expected.
With a strong message against abortion Pope Benedict XVI arrived Wednesday in the Brazilian city of Sao Paulo for a five day visit to the world's most populous Roman Catholic nation. This is his first visit to Latin America since becoming Pope in April 2005.
The World Trade Organization has ruled that Chile should not apply tariff barriers to the price of Argentine wheat and flour. The ruling was a response Chile's final appeal to the WTO in the lengthy trade dispute with Argentina that began in 2000.