Economy

Wednesday, September 7th 2011 - 11:29 UTC
Obama job-creating speech will announce a 300 billion dollars plan, says US media

US President Barack Obama will unveil a 300 billion dollars package to create new jobs in an address to Congress on Thursday, US media reports citing Democratic sources.
Wednesday, September 7th 2011 - 11:21 UTC
Iran becomes Brazil’s biggest buyer of beef eclipsing Russia

Iran has eclipsed Russia to become the biggest buyer of beef from Brazil, the world’s top exporter of the meat, strengthening the countries’ controversial ties.
Wednesday, September 7th 2011 - 11:16 UTC
Latin American markets react positively on growing confidence in the region

Latin American markets edged up on Tuesday, albeit uneasily, after data showed the US services sector unexpectedly picked up steam in August and growing confidence that the region is prepared to withstand global turbulence.
Wednesday, September 7th 2011 - 11:05 UTC
Brazil to implement anti-dumping duties retroactively on Chinese steel tubes

Brazil decided to implement anti- dumping duties retroactively to prevent companies from stocking up on imported goods the government says pose a threat to local industry.
Wednesday, September 7th 2011 - 10:43 UTC
US and European shares continue to slide waiting for strong political decisions

US and European shares have both fallen as concerns continue about the high level of Euro zone debt, as well as the risk of a return to recession on both sides of the Atlantic.
Tuesday, September 6th 2011 - 22:27 UTC
Chinese consortium acquires 15% of world’s largest niobium producer in Brazil

A consortium of five Chinese companies has acquired a 15% stake in Brazil's Companhia Brasileira de Metalurgia e Mineracao (CBMM), the world's biggest niobium producer, for 1.95 billion dollars in cash.
Tuesday, September 6th 2011 - 22:22 UTC
Brazil consumer prices in August increase for the twelfth month running

Brazil’s inflation accelerated for the 12th straight month in August to its fastest annual rate since 2005. Consumer prices, as measured by the IPCA index, rose 0.37% in August from the previous month, the national statistics agency reported on Tuesday. Prices rose 7.23% from a year ago, the highest since June 2005.
Tuesday, September 6th 2011 - 22:15 UTC
Brazilian car industry scaling down production as inventories rise

Metalworkers at a General Motors factory in Brazil decided to go on strike on Tuesday to demand a 17.45% wage increase just as the industry is scaling back production amid rising inventories.
Tuesday, September 6th 2011 - 20:15 UTC
US banks offered deals over improper-mortgage practices, says FT

Big US banks in talks with state prosecutors to settle claims of improper mortgage practices have been offered a deal that may limit their legal liabilities in return for a multibillion-dollar payment, the Financial Times reported Tuesday.
Tuesday, September 6th 2011 - 20:08 UTC
Swiss central bank puts a cap to the Franc to combat massive overvaluation

The Swiss central bank announced Tuesday a ceiling on the currency by setting an exchange rate minimum against the Euro. The Swiss National Bank (SNB) boldest move states that the exchange rate between the Swiss franc and the Euro must not drop below 1.20 Euros. And if it does, the Swiss bank is prepared to enforce the minimum by selling francs and buying up euros “in unlimited quantities.”