Stories for October 26th 2012
The economy expanded more than forecast in the third quarter, paced by a pickup in consumer spending, a rebound in government outlays and gains in residential construction. GDP rose 2% annual rate after climbing 1.3% in the prior quarter, Commerce Department figures showed on Friday.
Spain's unemployment rate hit a record high in the third quarter, with one in four out of work and more expected to lose their jobs in 2013 as the next phase of government cutbacks kicks in.
Former Italian Prime Minister Silvio Berlusconi has been handed a jail sentence and barred from office after being found guilty of tax fraud. The Milan court sentenced him to four years but later cut it to one year because of an amnesty law.
A massive blackout left as many as 53 million Brazilians in the dark late Thursday and early Friday, the latest in a string of energy shortages that have raised questions about whether Brazil's infrastructure is keeping pace with economic growth.
Chile placed 1.5 billion in dollar-denominated bonds on international markets at historic yields, giving the country the lowest borrowing cost of any emerging country, Finance Minister Felipe Larrain said on Thursday.
US appeals court ruled Argentina discriminated against bondholders who refused to take part in massive debt restructurings in 2005 and 2010 by deciding to pay them later than bondholders who agreed to participate.
The Falkland Islands Government (FIG) is likely to earn somewhere in the region of 25 to 30% of the gross value of the oil resource spread over an expected field life of 25 years, it was stated at a public meeting in the capital Stanley earlier this week.
A group of Central American journalists recently visited the Falkland Islands for a week as guests of the Foreign Office together with Bruce Callow from the UK Costa Rica embassy. During Mr Callow wrote in his blog about the experience regarding important issues for the Falklands such as the referendum next March on the future of the Islands.
The Falkland Islands Government accounts showed a surplus of £4.297 million compared to a revised budget surplus of £2.448 million (a positive performance of £3.190 million) for the first three months of the 2012/13 financial year, according to the Financial Management Report presented this week to the Standing Finance Committee.
The Falkland Islands will have a new deep-water port facility capable of meeting the demands of all incumbent industries it was announced following this week's meeting of Executive Council (ExCo).