Stories for October 27th 2011
Euro zone largest bank profits down as bad loans in Spain keep growing
The Euro zone's biggest bank Santander said it expected bad loans in Spain to keep on growing as Spaniards, blighted by unemployment and heavy mortgage debt, fall into arrears on payments.
China ready to support Euro rescue fund and held stabilize global markets
French president Nicolas Sarkozy conferred with his Chinese counterpart Hu Jintao as European policy makers seek to build support for an enlarged rescue fund designed to resolve the region’s sovereign-debt crisis.
Obama upbeat with the EU deal and improved performance of the US economy
President Barack Obama said on Thursday that European Union leaders have laid “a critical foundation” to solve the Euro zone debt crisis with their deal announced Wednesday evening.
Uruguay passes bill eliminating prescription of crimes against humanity
The Uruguayan Congress passed early Thursday a law that eliminates the effects of the 1986 Amnesty Law (also known as Expiry Law), which protected police and military personnel from being prosecuted for human rights violations, and repeals a statute of limitations that would have prevented victims from filing criminal complaints as of 1 November.
CFK opens huge mausoleum on first anniversary of her late husband death
President Cristina Fernández de Kirchner, CFK, attended Thursday a small private ceremony at the Río Gallegos cemetery (Santa Cruz province) and paid tribute to her late husband and former president, Néstor Carlos Kirchner, on the first anniversary of his death.
VW plans 2bn factory in Pernambuco with Brazilian long-term soft loan
Volkswagen AG is negotiating with Brazilian authorities to build a 2 billion dollars factory in Brazil -- the latest foreign automaker looking to raise local output after a tax increase on imported cars
Centennial of Amundsen and Scott’s South Pole feat next 14 December
British and Norwegian teams are in Punta Arenas, extreme south of Chile, preparing for a repeat of the South Pole feat on 14 December 1911 first accomplished by explorer Roald Amundsen and a month later by Sir Robert Scott.
Wall Street growing insider trading scandal catches another big fish
Ex-Goldman Sachs director Rajat Gupta has turned himself in to the FBI and pleaded not guilty in court to securities fraud before being freed on a 10 million dollars bail.
FDI in Argentina falls 30%; in Brazil and Colombia soars 157% and 91%
Foreign direct investment, FDI, in Argentina fell 30% in the first six months of this year, while the whole of Latin America and the Caribbean received 54% more, the United Nations Economic Commission for Latin America said in a report on its website.
Peugeot cuts costs in Europe and announces double production in Brazil
French auto giant PSA Peugeot Citroen plans to double production in Brazil by 2015, part of a global shift towards emerging economies hastened by the downturn in Europe and the United States.
