The Italian parliament gave final approval on Wednesday to a much-altered austerity plan aimed at stemming a debt crisis engulfing the euro zone's third largest economy.
Moody's cut the credit ratings of two French banks Wednesday because of their exposure to Greece's debt, highlighting growing risks to Europe's financial sector from the deepening euro zone sovereign debt crisis.
‘Official’ inflation in Argentina hit 0.8% in August and accumulated 6.4% in the first eight months of the year and 9.8% in the last twelve months, according to the Indec statistics and census bureau.
The Brazilian economy expanded at its fastest pace in six months in July, even as the central bank bets on slower growth to curb the fastest inflation in six years.
British oil group Rockhopper Exploration has unveiled plans for a 2 billion dollars investment in the Falkland Islands, a move which will transform the remote territory into a new oil province.
Brazil, Russia, India, China and South Africa, which make up the so-called BRICS group, will meet in Washington next week to discuss how to help the European Union avert a full-blown financial crisis as Greece veers toward default on its debt, Brazilian Finance Minister Guido Mantega said Tuesday.
The United States poverty rate hit its highest level since 1993 in 2010 with a record 46 million Americans living below the poverty line, according to a US government report on Tuesday that depicted the grim effects of stubbornly high unemployment.
US economy will grow slower than anticipated and joblessness will stay high as the fallout of the deepest recession since the Great Depression takes its toll, the Congressional Budget Office said on Tuesday.
Top opposition Republicans in Congress criticized today President Barack Obama's proposal to pay for a job creation plan by eliminating 467 billion dollars in tax breaks for wealthier Americans and corporations.
The US government announced Tuesday it will begin testing next year for six more kinds of E.coli bacteria in raw ground beef and tenderized steaks in order to boost protection of US consumers.