Brazilian meat giant JBS S.A. has announced that BNDES (Brazilian Development Bank) converted a large amount of JBS debt into equity, boosting the bank’s shareholdings in the company to 30.4% from 17% previously.
The risk that Europe's single Euro currency could break up is the main factor holding back the US economy, former Federal Reserve Chairman Alan Greenspan said, though he stopped short of predicting a new recession in the US.
Moody's Investors Service cut this week its rating on Japan's government debt by one notch to Aa3, blaming a build-up of debt since the 2009 global recession and revolving-door political leadership that has hampered effective economic strategies.
Brazilian Finance minister Guido Mantega admitted before the Senate that the global financial crisis is already having an impact in the local economy and this will be reflected in a lower GDP for the twelve months.
Brazil's 12-month current account deficit narrowed in July on rising revenue from exports and strong foreign direct investment. The 12-month deficit declined to 47.9 billion dollars or 2.1%, of GDP, from 49 billion, or 2.2% of GDP in June, the central bank said Tuesday.
With Argentina’s presidential election less than two months away official data is showing why President Cristina Fernandez de Kirchner is poised to make effective her re-election bid in October.
US stocks shot 3% higher on Tuesday on speculation Federal Reserve Chairman Ben Bernanke this week could signal new help for the US economy, giving investors hope a four-week rout was nearing an end.
Argentina's trade surplus shrank 22% in July from a year earlier to 672 million dollars as import growth continued to outpace exports, the government said on Tuesday. The trade surplus totalled 861 million dollars in July 2010.
Spot gold soared to an all-time high above 1,910 dollars on Tuesday, scoring a record top for a fourth consecutive session, as persistent worries about global economic growth burnished bullion's safe-haven appeal.
Standard & Poor's (S&P) president Deven Sharma has stepped down just weeks after the agency downgraded the US credit rating. He will be replaced by Douglas Peterson, chief operating officer of Citibank with effect from 12 September, the agency said.