Stories for July 26th 2011
US wealth gap between whites and minorities is the highest in 25 years says Pew
Wealth disparities in the United States between white households and black and Hispanic households are greater than they’ve been in the past 25 years, a new study from the Pew Research Centre reveals.
Brazilians with a strong currency travelling overseas as never before
With the currency ever so strong against the US dollar Brazilians are travelling overseas and spending as never before, according to the latest figures from the Central Bank.
Brazil second scientific station in Antarctica, 500 km from the South Pole
Brazil is planning to set up its second scientific station in Antarctica and its first fully automatic data collecting module close to the Southern pole, revealed Jefferson Simoes coordinator of the country’s National Science and Technology Institute.
Petrobras plans to double oil output by 2015 and exit debt market in 10 years
Brazil’s government managed Petrobras said its plan to more than double oil output will boost cash flow and eliminate the need to tap debt markets after about 10 years. Profits from oil sales will be enough to cover operating and debt costs starting in about 10 years, said Chief Financial Officer Almir Barbassa.
S&P upgrades Uruguay’s rating to BB+, just one notch below investment grade
The credit rating agency Standard & Poor’s upgraded on Monday Uruguay’s rating by one notch to BB-plus, only one notch below investment grade, praising years of “prudent and consistent” economic policies in the country.
First commercial bio-fuel flight in Latam between Mexico City and Chiapas
The Mexican airline Interjet has successfully conducted the first commercial bio-fuel flight in Latin America, using a jatropha-based fuel that reduces air pollution by 80%, according to company officials.
Mexico Pemex buys Repsol shares, becomes third largest stock holder
Mexico's state oil monopoly Pemex said on Monday it recently bought 825,150 shares in Repsol YPF, increasing its stake in the Spanish company to 5%. The stock purchase took place on July 13, Pemex's finance department said, without giving details of the cost of the deal.
Real soars to its highest in 12 years in spite of billions to support the US dollar
Brazil's Real soared Monday to its highest level against the US dollar since 1999. The dollar was buying 1.53 Real at midday on financial markets, representing a 0.9% increase from Friday. The dollar closed somewhat higher at 1.54 Real but below the 1.55 of twelve years ago.
