Toyota, the world's biggest automaker said Monday it will temporarily halt work at factories in Brazil and Argentina due to the lack of parts from Japan after the massive March quake and tsunami.
Following the second rescue of Greece, Spain is the next candidate to request a major financial aid package according to William Hill one of the largest bookmakers in the United Kingdom.
Uruguay consumer prices increased 0.35% in June, completing 8.61% in the last twelve months, which remains above the Central bank target of 4% to 6%, and the latest estimate of 7.8% presented last week by the Executive in its additional budget report to Congress.
Mercosur idea of a common trade defence policy has been present since the nineties but the initiative is difficult to implement because agreeing on a joint safeguard does not necessarily meet the demands of different interests, according to a leading economist from Brazil’s Getulio Vargas Foundation, GVF.
Mercosur/European sixth round of negotiations to reach a wide ranging cooperation and trade agreement took off Monday in Brussels, but rather timidly with no immediate prospects of an exchange of proposals for market access.
Ratings agency Standard and Poor's warned on Monday that efforts to bailout Greece involving private banks could amount to a debt default even as Brussels sees progress being made in resolving the crisis.
The European Central Bank should not hike interest rates aggressively and wait for stronger Euro zone growth before increasing rates after this week's expected move, OECD head Angel Gurria said on Monday.
Canada’s Scotiabank announced it has closed the transaction to purchase Nuevo Banco Comercial S.A. (NBC), Uruguay's fourth largest private bank in terms of loans and deposits. The acquisition was announced on December 6, 2010. Terms of the agreement were not disclosed.
Brazil's state development bank, BNDES, is lending to companies at the lowest rate relative to the country's benchmark in two years, undercutting President Dilma Rousseff's efforts to curb inflation, revealed the Sao Paulo financial press.
The authorities in Cuba have released more details of their plans to allow people to buy and sell their cars and homes for the first time in 50 years. The new laws will open up a private property market and enable Cubans to buy any car they can afford.