Stories for September 6th 2011
Chinese consortium acquires 15% of world’s largest niobium producer in Brazil
A consortium of five Chinese companies has acquired a 15% stake in Brazil's Companhia Brasileira de Metalurgia e Mineracao (CBMM), the world's biggest niobium producer, for 1.95 billion dollars in cash.
Brazil consumer prices in August increase for the twelfth month running
Brazil’s inflation accelerated for the 12th straight month in August to its fastest annual rate since 2005. Consumer prices, as measured by the IPCA index, rose 0.37% in August from the previous month, the national statistics agency reported on Tuesday. Prices rose 7.23% from a year ago, the highest since June 2005.
Brazilian car industry scaling down production as inventories rise
Metalworkers at a General Motors factory in Brazil decided to go on strike on Tuesday to demand a 17.45% wage increase just as the industry is scaling back production amid rising inventories.
Emirates airline to open daily non-stop service Bangkok/Rio do Janeiro/Buenos Aires
Two of South America’s most iconic cities will soon have a faster link to Bangkok when Emirates commences its daily non-stop service to Rio de Janeiro and extension to Buenos Aires from 3rd January 2012.
US banks offered deals over improper-mortgage practices, says FT
Big US banks in talks with state prosecutors to settle claims of improper mortgage practices have been offered a deal that may limit their legal liabilities in return for a multibillion-dollar payment, the Financial Times reported Tuesday.
UN warn austerity measures and deficit cuts is pushing the world towards disaster
The pursuit of austerity measures and deficit cuts is pushing the world economy towards disaster in a misguided attempt to please global financial markets, the annual report of the United Nations economic think-tank UNCTAD said on Tuesday.
Swiss central bank puts a cap to the Franc to combat massive overvaluation
The Swiss central bank announced Tuesday a ceiling on the currency by setting an exchange rate minimum against the Euro. The Swiss National Bank (SNB) boldest move states that the exchange rate between the Swiss franc and the Euro must not drop below 1.20 Euros. And if it does, the Swiss bank is prepared to enforce the minimum by selling francs and buying up euros “in unlimited quantities.”
International Literacy Day: 793 million adults can neither read nor write
This year’s International Literacy Day, celebrated world-wide on 8 September, will focus on the link between literacy and peace.
‘Happy Feet’, the penguin beached in NZ released to return to Antarctica
‘Happy Feet’, the lost Emperor penguin who became a worldwide celebrity after he washed up on a New Zealand beach was released back into the Southern Ocean on Sunday to begin a long swim home to Antarctica.
Colombia’s new defence minister is President Santos closest aide
Colombia’s new defence minister vowed on Monday a forceful response to illegal armed groups and more innovation in confronting guerrillas and drug barons in the country.
