Stories for October 17th 2008

Friday, October 17th 2008 - 20:00 UTC
JPMorgan becomes US largest bank; displaces Citigroup

JPMorgan Chase & Co has become the largest US bank by assets surpassing long-time leader Citigroup Inc. On Thursday Citigroup Inc reported it ended September with 2.05 trillion US dollars of assets, while a day earlier JPMorgan led by Jaime Dimon, said it ended the month with 2.25 trillion US dollars.
Friday, October 17th 2008 - 20:00 UTC
Spain banks “strong and solvent”, no need for rescue plan

Spanish banks are strong and have solvency and do not need the government to take stakes in them, said Emilio Botin, the chairman of Spain's largest bank Santander.
Friday, October 17th 2008 - 20:00 UTC
Brazil and Mexico inject US dollars to sustain currencies

Brazil Central Bank announced on Thursday further measures to ensure liquidity and support the local currency Real. The bank expanded the list of securities it will accept to free up reserve requirements on term deposits and took new measures to ensure that banks that borrow from its discount window provide credit lines to exporters
Friday, October 17th 2008 - 20:00 UTC
Vital Voices Summit in Argentina honours Chile's Bachelet

More than 300 women, successful entrepreneurs, leaders in their workplace with fierce personalities, in smart business suits or colourful artisanal dresses from Latin American and Caribbean countries such as Peru, Panama, Jamaica, Honduras, Guatemala, Bolivia all exuberant, all very feminine were recently at a conference at the Hilton Hotel in Buenos Aires: Vital Voices of the Americas: Women as a Bridge to a More Prosperous Future Summit for Latin America and the Caribbean. Chilean President Michelle Bachelet and President Cristina Fernandez de Kirchner addressed this gathering of government leaders, community and NGO advocates, and leading businesswomen.
Friday, October 17th 2008 - 20:00 UTC
Chilean unofficial hopeful presidential candidates line up

Though ostensibly keeping a low profile until this month's municipal elections are over, Chile's main political parties are showing unmistakable signs of intra-party conflict regarding the 2009 presidential race
Friday, October 17th 2008 - 20:00 UTC
Falkland Islands: Weekly Penguin News Update

Headlines: New Haven in operation; Funding for Stanley Dairy dries up; Oil salvage team arrives; Oil salvage team arrives.
Friday, October 17th 2008 - 20:00 UTC
Latam estimated to grow 3% in 2009, says IDB

Latinamerica will grow 3% in 2009, below the 4 to 4.5% forecasted for this year said on Friday the president of the Inter-American Development Bank (IDB) Luis Alberto Moreno.

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Friday, October 17th 2008 - 20:00 UTC
To ensure supply and price Asian steelers buy iron ore mines

A consortium of five Japanese steelmakers and a South Korean trading firm will invest 3.1 billion US dollars to acquire 40% of a Brazilian iron ore mining company Mineiros S.A. to secure supplies of iron ore, trading house Itochu Corp. announced Friday.
Friday, October 17th 2008 - 20:00 UTC
Mexico returns to UN Security Council next January

The General Assembly elected Austria, Japan, Mexico, Turkey and Uganda to serve as non-permanent members of the Security Council for two-year terms starting on 1 January next year.
Friday, October 17th 2008 - 20:00 UTC
Czechs helping to reforest Torres del Paine devastated area

Chile's Forestry Corporation, Conaf is reforesting the 15.000 hectares from the world famous Torres del Paine national park in Chilean Pataogonia which were devastated by fire in February 2005, according to Punta Arenas La Prensa Austral.