Economy
EconomyEuro zone inflation eases but economic confidence is down
Separate figures have shown as easing of inflation in the Euro zone, but a fall in economic confidence. An initial estimate from EU statistics agency Eurostat showed that the annual rate of inflation eased in August to 3.8% from a record 4% in July as oil prices cooled.
Land Rover imposes four day week to cut production
Land Rover has announced plans to cut production at its Solihull plant in England, including the introduction of a four-day week on some lines. Discoveries and Land Rover Sport models will no longer be manufactured on Fridays
Standard Chartered opens representation office in Santiago
Britain's Standard Chartered Bank has been authorized to open a representation office in Chile, according to an official release from the country's banking regulator, Superintendencia de Bancos e Instituciones Financieras, SBIF
US economy surprise: 3.3% expansion in second quarter
The US economy grew at a revised 3.3% annually in the second quarter of 2008, said on Thursday the Commerce Department, much higher than the original estimate of 1.9%.
Argentine Central Bank boasts having cut run on deposits
The Argentine Central Bank president Martin Redrado said that “there's no floor on sight for the international financial markets crisis”, but in recent months “for the first time in decades, Argentina managed to stop a run on the bank's reserves”.
Positive but cautious UN report on regional economy
Latin America and the Caribbean have posted positive economic gains for the sixth year in a row, despite the global downturn, with gross domestic product (GDP) rising nearly 5% this year, according to the most recent estimates of the United Nations office in the region.
Argentina will meet debt obligations, says cabinet chief
Argentina will meet all its debt obligations in 2008 and 2009, said Cabinet chief Sergio Massa addressing investor concerns that political tensions could reduce its budget surplus and slow its debt payments.
Current policies could force Argentina to import beef by 2012
Argentina could be forced to import beef by 2012 if current policies are not modified, but current tonnage could increase by 50% if rules are changed, warned the Argentine Regional Consortia of Agriculture Research, Aacrea.
Argentine inflation running at an annualized 28/30%
Accumulated inflation in Argentina over the last 12 months by the end of July was 28%, with food prices having risen 39% in that period and index-linking already beginning to take place, according to economist Carlos Melconian.
Australia extends China, Rio Tinto “aluminum medal”
Australia has backed Chinese aluminum giant Chinalco's recent purchase of an 11% stake in Anglo-Australian mining giant Rio Tinto.
