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%.
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.
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 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.
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.
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.
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.
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.
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.
Consumer prices in Brazil rose in May at the fastest pace in more than three years, 0.79%, underscoring concerns about inflation pressures in Latinamerica's largest economy.