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Stories for May 11th 2008

• Sunday, May 11th 2008 - 21:00 UTC

  Santiago to have world's tallest residential tower

  The Spanish business group Mall announced plans for a 600 million US dollar residential tower for Santiago de Chile, a structure that, once built, will be the world's tallest residential building.

• Sunday, May 11th 2008 - 21:00 UTC

  Conflict fears make Argentine savers opt for US dollars

  

  Seven out of ten Argentines with savings in the banking system have been changing their options from local pesos to US dollars or other currencies or assets, fearing the consequences of the unresolved farmers' conflict could lead to a run on the banks and the government's response of freezing assets, according to some Argentine media.

• Sunday, May 11th 2008 - 21:00 UTC

  Airbus and Boeing have a Chinese competitor

  China launched a company to manufacture jumbo passenger aircrafts to challenge the dominance of commercial jet giants Airbus and Boeing in the market for aircrafts with more than 150 seats.

• Sunday, May 11th 2008 - 21:00 UTC

  Third US bank failure in 2008; regulators to increase staff

  

  The United States ANB Financial National Association Arkansas based banks have been closed by the Office of the Comptroller of the Currency after discovering “unsafe and unsound” business practices there. The Federal Deposit Insurance Corporation has named a receiver.

• Sunday, May 11th 2008 - 21:00 UTC

  France's Total purchased lubricant plant in Chile

  France's TOTAL, one of the world's largest oil companies, confirmed its purchase of the Chilean lubricant plant Castrol. TOTAL currently supplies Chile with 3% of its oil consumption, a figure that will grow as a result of the Castrol purchase.

• Sunday, May 11th 2008 - 21:00 UTC

  Argentine farmers plan more protests; governors' support

  Tired of waiting for signals from President Cristina Fernandez de Kirchner's administration, Argentine farmers' leaders are ready to extend the current lock out which expires next Thursday, according to warning speeches over the weekend.