The US economy unexpectedly shrank at an annualised rate of 0.1% in the fourth quarter of 2012, initial official estimates indicate. If confirmed, it would be the first contraction logged by the US economy since the 2009 global recession. The world's largest economy grew 3.1% in July to September.
Foreign minister Hector Timerman will be taking the Falklands/Malvinas sovereignty claim to London where next week he is scheduled to meet outstanding figures from 18 European countries that have been calling for a resumption of negotiations, according to a release from the Argentine embassy in UK.
The once-booming Brazilian economy created the fewest new jobs in a decade during 2012 as struggling manufacturing industries and mining companies hired fewer workers, according to Labour ministry data. Latinamerica’s leading economy added 1.3 million payroll jobs last year, the worst result since 2003 and way below the 2 million jobs created in 2011.
US President Barack Obama pushed Congress on Tuesday to overhaul the country's immigration system but disagreement with Republicans over securing the border with Mexico has already begun to sour bipartisan efforts.
Paraguay has formally requested to become an observer of the Alliance of the Pacific, revealed Foreign minister Jose Felix Fernandez Estigarribia, The Pacific group is made up of Mexico, Colombia, Peru and Chile, and actively promotes foreign investment and the private sector.
The Alliance of the Pacific, Chile, Peru, Colombia and Mexico have agreed to liberalize 90% of products traded between the group before the end of March 31, a decision which runs counter to the growing protectionism implemented by some of the region’s largest economies on the Atlantic.
The International Monetary Fund’s board of directors was informally briefed on the economic situation in Argentina, which has refused to undergo an annual assessment since 2006.
Argentina’s organized labour CGT confederation led by Hugo Moyano came on stage on Tuesday to make clear that Monday’s income tax floor 20% rise announced by President Cristina Fernández “is not enough” and anticipated fierier wage talks with a clear 25% raise demand.
Brazil said Latinamerica and Caribbean cohesion does not only mean strengthening CELAC (Community of Latinamerican and Caribbean States) but also advancing in the other integration processes of the region.
Argentine Football Association (AFA) chief Julio Grondona will step down in 2015 after 36 years in the job, he said on Tuesday. The 81-year-old senior FIFA vice-president, widely criticised for the way in which he has run the AFA, will not seek re-election for the first time since he came to power in 1979.