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Stories for July 9th 2008

• Wednesday, July 9th 2008 - 21:00 UTC

  Argentina's soy king explains modern farming and taxing

  Argentina's major soy businessman Gustavo Grobocopatel said that “modern farming has nothing to do with rich against poor”.

• Wednesday, July 9th 2008 - 21:00 UTC

  “Conflicts of interest” proven in three credit rating agencies

  A report into the much-criticized activities of credit rating agencies has found conflicts of interest at the firms it studied. The US financial regulator, the SEC, found that the firms, which rate investments, had broken its rules.

• Wednesday, July 9th 2008 - 21:00 UTC

  G8 “shared vision” on emissions reduction “highly ambiguous”

  Leaders of the world's richest countries meeting in Japan offered some hope on climate change with the announcement of a highly ambiguous “shared vision” to halve global CO2 emissions by 2050.

• Wednesday, July 9th 2008 - 21:00 UTC

  Ecuador seizes two television stations and looses minister

  Ecuadorian Finance Minister Fausto Ortiz resigned on Tuesday after the government of president Rafael Correa seized two television stations, --which is announced it will manage “temporarily”--, and almost 200 other businesses in a dispute over debts stemming from a 1990s banking crisis.

• Wednesday, July 9th 2008 - 21:00 UTC

  UN says G8 leaders “missed opportunity” on climate change

  Commenting on the outcome of the Group of Eight (G-8) Summit in Japan, the head of the United Nations Environment Programme (UNEP) said the world's richest countries had shown insufficient leadership on climate change.

• Wednesday, July 9th 2008 - 21:00 UTC

  Fed expects financial turmoil to persist and ready to rescue

  The US Federal Reserve may extend into next year a facility that gives investment banks access to emergency cash if the financial turmoil persists. The lending facility was put in place in March to stabilize the financial system as Bear Stearns collapsed.

• Wednesday, July 9th 2008 - 21:00 UTC

  Argentine gov. planning to take over Aerolíneas

  The Argentine government has plans to intervene in the administration of the country's largest airline and flag carrier Aerolineas Argentinas, which has been hit by a series of labor disputes, Buenos Aires media reported on Wednesday.

• Wednesday, July 9th 2008 - 21:00 UTC

  Trichet warns Euro nations of inflation price spiral

  European Central Bank President Jean-Claude Trichet warned Wednesday that Euro nations are already seeing the first signs of an inflation price spiral and called on governments to help contain wage hikes that could fuel further price rises.