Greece will not get its multi-billion Euro aid package until it commits to bigger economic sacrifices, Germany’s finance minister warned over the weekend.
Investment bank Goldman Sachs executives boasted about the money the bank was making while the US housing market was collapsing in 2007, released company e-mails show.
Toyota Brazil has agreed to recall an unspecified number of Corollas locally manufactured because of the risk of sudden acceleration according to a statement from the country’ Ministry of Justice website.
The 186 countries that own the World Bank Group endorsed on Sunday boosting its capital by more than 86 billion US dollars and giving developing countries more influence.
By Jose Antonio Ocampo – Two troubling features of the ongoing economic recovery are the depressed nature of world trade and the early revival of international global payment imbalances. Estimates by the International Monetary Fund and the United Nations indicate that the volume of international trade in 2010 will still be 7% to 8% below its 2008 peak, while many or most countries, including industrial nations, are seeking to boost their current accounts.
Brazil plans to sell bonds in international markets in coming weeks, taking advantage of the lowest borrowing costs since October 2007, Treasury Secretary Arno Augustin said.
Argentine industrial output surprised market expectations in March, powered by an increase in auto production, the latest sign of a strong rebound in Latin America's number three economy.
The behaviour of two credit rating agencies in the run-up to the financial crisis has been criticised by US senators following an investigation.
If Greece was to default it would effectively spell the end of the Euro as a currency, according to Royal Bank of Scotland's (RBS) strategist and chief European economist Jacques Cailloux.
Latest forecasts from the International Monetary Fund (IMF) predict Chile and Peru will lead Latin America’s growth in 2011 with an expansion of 6% each. The IMF released its World Economic Outlook Report on Wednesday, upping Chile’s projected growth from 4 to 4.7%.