Stories for June 22nd 2012
Brazil and China will sign an agreement in the coming weeks to swap as much as 30 billion in their two currencies, Brazil Finance Minister Guido Mantega said.
Corn fell in Chicago on concern a record harvest in Brazil’s Mato Grosso state may add to a supply glut and on speculation slowing US economic growth will cut demand for grain used to make ethanol.
Finance minister Guido Mantega said the latest release from investment bank Credit Suisse forecasting Brazil’s 2012 GDP growth at 1.5%, was “a joke”.
The German government and opposition reached on Thursday a deal that will allow parliament to approve the European Stability Mechanism, ESM, next week, but Germany's top court may delay the rescue fund's start date, saying it needed time to study the treaty.
Spain's medium-term borrowing costs spiralled to a Euro-era record on Thursday and independent auditors said Spanish banks may need up to 62 billion Euros in extra capital, to be filled mostly by a Euro zone bailout.