Economy

• Tuesday, November 29th 2011 - 17:21 UTC

  UNASUR considers strengthening emergency fund for balance of payments problems

  

  The Union of South American Nations, Unasur, may decide this week to strengthen an emergency fund to help countries in balance of payments problems, the Brazilian Finance Ministry’s international affairs secretary said.

• Tuesday, November 29th 2011 - 17:11 UTC

  American Airlines files for bankruptcy; plans to cut drastically labour costs

  

  American Airlines and its parent company AMR Corp filed for bankruptcy on Tuesday after failing to win a labour deal with pilots and suffering from mounting fuel costs.

• Tuesday, November 29th 2011 - 06:10 UTC

  Venezuela and Colombia agree to boost trade by reducing tariffs on 3.500 items

  

  Venezuelan president Hugo Chavez and his visiting Colombian counterpart Juan Manuel Santos subscribed Monday a trade understanding covering 3.500 items, based on the most exchanged products in recent years, and agreed on an ambitious energy projects that include neighbouring Ecuador and Panama.

• Tuesday, November 29th 2011 - 06:04 UTC

  US and EU agree to begin talks on a trans-Atlantic economic and trade pact

  

  The United States and European Union agreed on Monday to develop a plan to capitalize on already strong economic ties to create more jobs and fuel economic growth on both sides of the Atlantic.

• Tuesday, November 29th 2011 - 06:01 UTC

  Spain no longer wonderland: in 2011 more people are leaving than arriving

  

  For the first time since data is recorded the number of people leaving Spain in search of better opportunities will be higher in 2011 than those incoming, according to the country’s stats office, INE.

• Tuesday, November 29th 2011 - 05:56 UTC

  Private sector will gradually replace Cuban government services beginning 2012

  

  The Cuban government will begin contracting out some services to the private sector next year in a break from the state-dominated past aimed at helping small business develop, government insiders said on Monday.

• Tuesday, November 29th 2011 - 05:53 UTC

  Markets react positively to talks for speeding the EU decision making process

  

  Germany and France stepped up a drive on Monday for intrusive powers to reject national budgets in the Euro zone that breach EU rules, as a market rout of European debt eased temporarily on hopes of outside help for Italy and Spain.

• Tuesday, November 29th 2011 - 02:09 UTC

  Fitch warns of US triple A rating downgrade if policy makers fail on budget cuts

  

  Fitch Ratings on Monday warned it may cut the United States' AAA rating if policymakers fail to agree in 2013 on a plan to reduce the country's ballooning budget deficits.

• Monday, November 28th 2011 - 21:10 UTC

  Argentina’s Techint moves strongly into Brazil steel business

  

  The Techint Group agreed to pay 5.03 billion Reais (2.7 billion dollars) for a 27.7% voting stake in Brazil’s Usinas Siderurgicas de Minas Gerais to boost access to the largest market for steel in Latin America.

• Monday, November 28th 2011 - 21:04 UTC

  Brazil preparing stimuli plan to boost manufacturing and create jobs

  

  Brazilian president Dilma Rousseff said that the country’s economy which slowed down in the last quarter will retake growth and generate more jobs based on government plans to expand manufacturing.