Stories for March 26th 2010

Friday, March 26th 2010 - 22:28 UTC
US economy contracted 2.4% in 2009, in spite of strong 5.6% in fourth quarter

The United States economy contracted 2.4% in 2009 according to the latest estimates from the US Bureau of Economic Analysis. Growth in 2008 was 0.4%.
Friday, March 26th 2010 - 22:01 UTC
Argentine top union leader back-peddles in inflation controversy

“Inflation in a growing country is good” said Hugo Moyano Argentina’s leader of the powerful labour unions confederation, CGT, a day after having openly complained that “inflation in Argentina is a fact, and nobody can deny it’s a reality”.
Friday, March 26th 2010 - 21:40 UTC
Falklands deployed HMS York celebrates 25 years at sea

HMS York, the Portsmouth-based Type 42 destroyer and currently patrolling the Falkland Islands as part of her South Atlantic deployment is celebrating her 25 years at sea. She was accepted into service on March 1985.
Friday, March 26th 2010 - 21:37 UTC
Chavez adds 3 days to Easter holiday (completing a week) to save energy

President Hugo Chavez has added three days to Venezuela's Easter holiday to deal with a growing energy crisis. The move which will close government and public offices means most Venezuelans will have a seven-day break starting on 1 April.
Friday, March 26th 2010 - 21:34 UTC
Quake destroyed ports limit Chilean grape industry exports

Chile’s fresh fruit business has been whip-lashed the past weeks by the 8.8 earthquake which struck February 27, at the height of the fresh fruit export season. Large shipments of table grapes - roughly four million cases - and other fruit had to be stored while authorities worked over time to get port facilities operating again.
Friday, March 26th 2010 - 04:27 UTC
Brazil ready to raise rates next April following strong rebound

Brazil's central bank policy-makers said on Thursday they are ready to raise rates next month to curb inflation pressure as jobs data highlighted the strength of the country's economic rebound.
Friday, March 26th 2010 - 04:23 UTC
Kirchner key ally says that inflation in Argentina can’t be denied, “it’s reality”

Argentina’s main union leader and a close political ally of President Cristina Kirchner, Hugo Moyano said that “inflation in Argentina is a fact, and nobody can deny it’s a reality”. His words follow previous statement from Economy minister Amado Boudou who admitted “prices’ tension but “not necessarily inflation”
Friday, March 26th 2010 - 04:18 UTC
Brazil/Argentina hold new round of talks to facilitate bilateral trade

Mercosur main country members, Argentina and Brazil begun on Thursday a two-day round of bilateral trade talks in Brazil to discuss basically whether to continue or not with the non-automatic licenses both countries hold.
Friday, March 26th 2010 - 04:01 UTC
Chile’s earthquake, fifth largest ever says US Geological Survey

The United States Geological Survey (USGS) reported this week that Chile’s devastating 8.8 magnitude earthquake on Feb. 27 has been officially ranked as the world’s fifth largest quake ever.
Friday, March 26th 2010 - 03:48 UTC
Agreement would allow Chinese jiggers to operate from Argentine ports

Norberto Yahuar, Argentina’s Fisheries Under Secretary is currently in China to advance on a fisheries cooperation agreement which would open Argentine ports to Chinese trawlers and jiggers while Beijing would lower tariffs to Argentine produce.