Stories for September 2011

Tuesday, September 27th 2011 - 23:45 UTC
Odyssey locates British WW II shipwreck with 200m silver haul onboard

A British cargo ship sunk during the Second World War has been discovered in the Atlantic with the world's largest ever haul of precious metal onboard.
Tuesday, September 27th 2011 - 23:32 UTC
A ketchup scam turns sour and lands all three players in jail

A jealous Brazilian woman could not tolerate her man’s double life with a second lover, so she appealed to her life’s savings to have the competitor for the same love, ‘Lupita’ disappeared.
Tuesday, September 27th 2011 - 22:45 UTC
Inflation picking up and lower interest rates, forecasts Brazil central bank survey

Brazil’s central bank will miss its inflation target this year for the first time since 2003 according to a central bank survey of economists. Consumer prices will rise 6.52% this year, according to the median forecast in a Sept. 23 central bank survey of about 100 analysts published Monday.
Tuesday, September 27th 2011 - 22:42 UTC
Latam currencies weakness ‘transitory’ says Mexican central bank

Mexican central bank Governor Agustin Carstens said the Peso’s weakness is “transitory” and the currency is likely to resume its upward trend, along with other Latin American currencies.
Tuesday, September 27th 2011 - 22:35 UTC
Argentina’s bumpy ride (and hopefully smooth landing)

The following piece was written by Andrés Velasco, a former Minister of Finance of Chile, and visiting professor at Columbia University for 2011-2012. As a neighbour of Argentina, first, and then as an economist he is well entitled to give an accurate briefing.
Tuesday, September 27th 2011 - 14:30 UTC
World's best travelling nationalities (and peculiarities) according to CNN

Mention the word “tourist” and you can be forgiven for recalling the expectorations, feeble linguistic skills and criminally small swimming briefs of this homogenous traveller “race.” But not everyone’s like that.
Tuesday, September 27th 2011 - 05:58 UTC
World Bank reminds Argentina of G20 duties and urges payment of defaulted debts

Argentina should pay its debt with the Paris Club group of creditor nations if it wants to continue receiving foreign investment, said Paolo Martelli, director for Latin America of the World Bank’s International Finance Corp, reports Buenos Aires daily La Nación.
Tuesday, September 27th 2011 - 05:15 UTC
UK reaffirms Falklands’ sovereignty: ‘they are British and not negotiable’

The UK has no doubts about Falkland Islands sovereignty: ‘they are British and they are not negotiable’, said on Monday a Foreign Office spokesperson in reply to a Sunday statement from the G77 plus China calling on Argentina and UK to resume sovereignty negotiations over the South Atlantic Islands.
Tuesday, September 27th 2011 - 04:56 UTC
S&P faces first action by US government against a major credit rating agency

United States regulators disclosed they may take action against Standard & Poor's for securities law violations after the ratings agency gave top grades to a package of securitized mortgages in 2007 that quickly soured.
Tuesday, September 27th 2011 - 01:44 UTC
Deloitte Touche Tohmatsu face 7.6bn dollars claim for failing to detect major auditing frauds

Giant accounting and consulting firm Deloitte Touche Tohmatsu has been accused of failing to detect fraud during audits of a mortgage firm which failed during the US housing crash.