Stories for August 2011

Wednesday, August 31st 2011 - 21:29 UTC

Controversy over US highest paid CEOs and taxes paid by their companies

General Electric's Jeff Immelt, according to IPS was paid 15.2 million dollars in 2010 while GE got a 3.3 billion dollars tax refund

The 25 highest paid US chief executives earned more last year than their companies paid in federal income tax, a study has said. The average annual remuneration of the 25 bosses was 16.7 million dollars, the left leaning think tank Institute for Policy Studies (IPS) found.

Wednesday, August 31st 2011 - 21:24 UTC

Merkel bets she can convince ruling coalition sceptics to further support the Euro

If Merkel fails to convince conservatives she could have to call early elections

German Chancellor Angela Merkel's cabinet approved Wednesday new powers for the Euro zone's bailout fund, kicking off a month-long battle to convince sceptics in her conservative camp to back efforts to contain the bloc's crisis.

Wednesday, August 31st 2011 - 21:21 UTC

US grain farmers furious with Argentina and Canada advance in the Colombia market

Colombian corn imports for the 2011/12 year are expected to be greater that those of China

Argentina has rapidly displaced the US as the main supplier to Colombia of corn and in near future wheat, with volumes soaring from 99.000 tons in 2007 to over 2.2 million tons currently, points out Agrimoney.

Wednesday, August 31st 2011 - 21:17 UTC

US consumers’ confidence plummets to lowest since April 2009 on jobs concern

Official US unemployment stats remain solid above 9%

The confidence of US consumers in the country’s economy fell sharply in August and reached its lowest level since April 2009, The Conference Board reported on Tuesday, attributing the decline in part to the lengthy congressional negotiations to raise the debt limit.

Wednesday, August 31st 2011 - 21:12 UTC

Investigation exposes Canadian mining industry bribing in Mexico

The corrupt Mexican mayor also demanded a sexual encounter with Playboy model Niurka Marcos

Canadian police are investigating a Calgary-based mining firm for allegedly bribing a mayor in the southern Mexican state of Chiapas to protect a barite mine.

Wednesday, August 31st 2011 - 19:49 UTC

US doctors performed STD experiments with Guatemala patients killing at least 83

Dr. Amy Gutmann, chair of the Bioethics Commission and president of the University of Pennsylvania.

Medical experiments performed by United States doctors deliberately infected more than 1,000 Guatemalans vulnerable patients with syphilis and gonorrhoea in the late 1940s, killing 83 of them, a US presidential panel said this week.

Wednesday, August 31st 2011 - 19:45 UTC

Panama has an estimated 900 million barrels of oil in two basins, confirm surveys

The confirmation could not have come at a better moment for President Ricardo Martinelli

Some 900 million barrels of oil have been detected at two basins in eastern Panama, representing a potential contribution to the country’s coffers of 15 billion dollars over 20 years, the National Energy Secretariat announced.

Wednesday, August 31st 2011 - 19:40 UTC

Venezuela economy expands 2.5% in 2Q, down from 4.8% in first quarter

Armando Leon from the Central banks expects the economy to grow at the same rate in the second half of 2011

Venezuela’s second quarter (2Q) Gross Domestic Product (GDP) was 2.5%, below the expectations of the Government and below the first quarter GDP’s 4.8% rate, probably indicating that the Government’s effort to prop the economy via fiscal spending is losing steam.

Wednesday, August 31st 2011 - 19:37 UTC

Colombia Defence minister resigns; deep reshuffle in forces anticipated

Rodrigo Rivera said he was proud of his performance which dealt the heaviest blows to FARC

Colombia's Defence Minister Rodrigo Rivera resigned Wednesday amid growing criticism of the security forces and increasing attacks by the narco-terrorist rebel groups in the country. Last week it was also revealed that the number of ‘disappeared’ in Colombia is almost 62.000.

Wednesday, August 31st 2011 - 19:24 UTC

Britons and French most pessimistic about economic prospects shows Ipsos Mori world survey

Canada, Germany and the US among the most optimistic

Britons are among the most pessimistic in the world about their country’s economic prospects, it was revealed this week. Just 9% of respondents in the Ipsos MORI survey expect an improvement in their economy in six months’ time, a figure only beaten by the French with 3%.

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