Spain’s Repsol has sued Chevron Corp. in New York seeking to prevent the US oil giant from developing energy assets in Argentina. The federal lawsuit filed Tuesday follows other legal claims that the Spanish oil company has filed in Madrid and Washington, demanding more than 10 billion dollars in compensation for the majority stake in the YPF oil company that Argentina's government took over in April.
Argentina has filed complaints with the World Trade Organization against the United States over limits on beef and lemon shipments, and against the European Union and Spain for curbs on bio-diesel, Foreign Minister Hector Timerman announced.
President Jose Mujica admitted on Tuesday before the country’s Exporters Union lobby that Uruguay has competitiveness problems and it is ‘not an easy challenge’ but nevertheless 2012 will again be a record year for overseas sales.
The Argentine Government’s acts of intimidation towards cruise companies which have planned to visit the Falkland Islands continues to impact on the Islands tourism industry with a further two ships cancelling their February visits on Wednesday.
Brazilian industrial output posted its first annual increase in more than a year in October as a tax break on autos helped support a nascent recovery in the country's beleaguered manufacturing sector.
Uruguay’s inflation in November was over 9% in the last twelve months despite government efforts to contain it by agreeing a price freeze with leading supermarkets and having public utilities’ rates unchanged.
The Brazilian government extended tax breaks to the country's construction industry in a new effort to encourage investment and boost flagging growth which is putting pressure on the government to further include other stimuli measures.
The European Union and Mercosur will resume talks on a free trade agreement during a coming summit in Brazil and later at a meeting in Santiago de Chile, both in January, according to the EU chief delegate in Brazil, Ana Paula Zacarias.
US appeals court refused to order Argentina to post a security deposit of at least 250 million dollars while it seeks to overturn a lower court ruling that orders it to pay holdout investors 1.33 billion.
Spain's jobless grew to a new record in November, official data showed Tuesday. The number of people registered as unemployed grew by 74.296 or 1.5% to 4.91 million in November from the previous month, the Labour Ministry said on Tuesday.