Stories for May 2007

Wednesday, May 9th 2007 - 21:00 UTC
Thomson makes offer for British news group

Canadian publisher Thomson Corp is in talks to buy Reuters Group Plc for about 8.8 billion pounds (US$17.6 billion) to create the world's biggest news and financial data company, the two firms said yesterday.
Wednesday, May 9th 2007 - 21:00 UTC
Massive flooding in Uruguay forces 12.000 people from homes

An estimated 12.000 people have been forced to leave their homes in Uruguay where record rainfall has caused extensive flooding leaving several counties with no electricity or drinking water.
Wednesday, May 9th 2007 - 21:00 UTC
Pulp mill dispute “technical talks” will resume in New York

Uruguayan and Argentine officials are scheduled to continue talks at the end of the month in an effort to defuse the Fray Bentos, Uruguay pulp mill conflict, as a follow up to last month's talks in Madrid after a year without negotiations.
Wednesday, May 9th 2007 - 21:00 UTC
Petrobras/Bolivia refineries dispute escalates

President Evo Morales said Bolivia would respond in the coming hours to a proposal from Brazil's state-run oil company, Petrobras, regarding compensation for its two refineries in Bolivia recently nationalized.
Wednesday, May 9th 2007 - 21:00 UTC
London home of world's most expensive real estate

London is home to the most expensive property in the world, followed by Monaco, New York and Hong Kong, according to estate agent Knight Frank and Citi Private Bank's “Wealth Report 2007”.
Wednesday, May 9th 2007 - 21:00 UTC
Brazil's TAM and Chile's LAN implement business alliance

Brazil's TAM Linhas Aéreas and Lan Chile, both airlines with a clear dominating position in their domestic markets have agreed to formalize a business alliance. The agreement to be implemented in the next three months aims to develop partnerships in routes operated in South America, broadening passengers' options to fly to several destinations.
Wednesday, May 9th 2007 - 21:00 UTC
Fed leaves rates unchanged at 5.25% but main “concern” is inflation

In a move widely expected the United States Federal Reserve kept its main interest rate on hold at 5.25%, but warned that its predominant policy concerns remains “the risk that inflation will fail to moderate as expected”.
Wednesday, May 9th 2007 - 21:00 UTC
Pope arrives in Brazil with strong message against abortion

With a strong message against abortion Pope Benedict XVI arrived Wednesday in the Brazilian city of Sao Paulo for a five day visit to the world's most populous Roman Catholic nation. This is his first visit to Latin America since becoming Pope in April 2005.
Wednesday, May 9th 2007 - 21:00 UTC
WTO asks Chile do drop tariff barriers on Argentine wheat and flour

The World Trade Organization has ruled that Chile should not apply tariff barriers to the price of Argentine wheat and flour. The ruling was a response Chile's final appeal to the WTO in the lengthy trade dispute with Argentina that began in 2000.
Tuesday, May 8th 2007 - 21:00 UTC
On tenth anniversary of crisis Asia pools financial reserves

Asian finance ministers have agreed plans to pool the region's vast financial reserves to protect their currencies from speculative attack. The agreement, reached at a meeting in Japan, comes almost 10 years after speculators triggered an economic crisis across the region in 1997.