Economy
EconomyCubans who work more will get higher salaries
In what some experts call Raúl Castro's boldest break yet from socialism, Cuban state companies have until August to overhaul their salary structures to one that pays hard-workers more than slackers, the government newspaper reported Wednesday.
Floods in US Midwest send corn futures to new highs
Corn prices hit new highs this week after the US Department of Agriculture forecast that output would fall because of poor weather. Corn reached a record price of above 7 US dollars a bushel for July delivery on the Chicago Board of Trade after the government cut its forecasts for the 2008 yield by 3%.
Europe's bargains: Swiss unleaded fuel and Spain's diesel
United Kingdom motorists traveling in Europe will find the cheapest fuel in Spain and Switzerland, according to a survey from the Post Office Travel Services.
US exports up but not enough to pay April's oil bill
Despite healthy exports the rising cost of importing foreign oil caused the US trade deficit to widen 7.8% in April to 60.9 billion US dollars, the largest for 13 months.
London world's leading financial centre; Santiago in Latam
London has been named the most influential financial centre in the world for the second consecutive year in spite of competition from fast rising hubs in Asia, according to MasterCard's second annual survey.
Obama announces windfall profits tax on oil corporations
Democratic presidential candidate Barack Obama sought to tap into US citizens' anxiety over high gasoline prices yesterday by pledging to seek a windfall profits tax on US oil companies if elected.
Uruguayan economy expanded 10.9% in the first quarter
Boosted by strong exports of agricultural commodities and domestic demand for communications services the Uruguayan economy expanded 10.9% in the first quarter of this year, compared to the same period a year ago.
Argentine consumers' expectations decline to lowest since 2003
Public opinion perception and expectations about the Argentine economy are currently going through the most serious declination since the Kirchner couple first reached government in 2003.
Warning that Uruguay is running out of “fiscal margin”
In spite of the good performance of the Uruguayan economy academics and former ministers have warned that given the expansion of public spending and subsidies to alleviate energy prices, the government is running out of “fiscal margin” in the event of a contingency.
Venezuela invites private sector with joint ventures
Venezuelan president Hugo Chávez said foreign investors have no longer “any room in the country” because they are only interested in making money and transferring earnings overseas. However, he invited private companies to joint ventures in “non strategic” areas of the economy.
