Economy

Economy
Monday, April 26th 2010 - 21:16 UTC

Germany and France Strongly Condition Rescue Aid Package to Greece

Germany's Finance minister Wolfgang Schauble

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.

Monday, April 26th 2010 - 05:24 UTC

Goldman Sachs Incriminating E-mails Surface in US Senate Investigation

The bank claims US senator Carl Levin was “cherry picking”

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.

Monday, April 26th 2010 - 05:12 UTC

Toyota Brazil is Recalling Locally Manufactured (as of April 2008) Corollas

The Japanese company has been operating in Brazil since 1958

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.

Monday, April 26th 2010 - 01:36 UTC

World Bank Agrees to Increased Capital and Voting Power for Developing Countries

 WB president Robert B Zoellick facing the challenge of a new multi-polar global economy

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.

Saturday, April 24th 2010 - 11:08 UTC

Exchange Rate Disorder

Professor José Antonio Ocampo

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.

Saturday, April 24th 2010 - 08:08 UTC

Brazil to Sell Bonds in Global Markets Given Lowest Borrowing Costs Since 2007

Treasury Secretary Arno Augustin made the announcement

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.

Saturday, April 24th 2010 - 07:20 UTC

Argentine Industrial Production Up 10.65 in March Over a Year Ago

Automobile production is reported to have increased 26.6%

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.

Saturday, April 24th 2010 - 07:05 UTC

US Credit Agencies Influenced by Banks that Paid Their Fees, Says US Senate

Senator Carl Levin: “high risk securities in bottles with low-risk labels”

The behaviour of two credit rating agencies in the run-up to the financial crisis has been criticised by US senators following an investigation.

Saturday, April 24th 2010 - 01:32 UTC

Could the Greek Crisis Spell the End of the Euro as a Currency?

European economist and Royal Bank of Scotland strategist Jacques Cailloux

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.

Saturday, April 24th 2010 - 01:12 UTC

Peru and Chile Will Lead Latam Expansion in 2011 with 6% Growth Each

Chile is the sixth largest economy in South America

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%.

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