Stories for May 7th 2010

Friday, May 7th 2010 - 21:40 UTC
Brazil Will Not Allow Drug Cartels or Armed Groups from Taking Over Paraguay

Brazilian Senate president José Sarney said there are serious risks of a “Colombianization” of Paraguay given the recent actions of an armed group self proclaimed the Paraguayan People’s Army, EPP, and called for strong support for President Fernando Lugo.
Friday, May 7th 2010 - 21:34 UTC
Honduran President Calls Brazil “Arrogant”, Steps Down from Latam/EU Summit

Honduran president Porfirio Lobo will not attend the LAC-EU summit in Spain later this month, after South American leaders who do not recognize him as his country's legitimate leader threatened to pull out. However, he will attend the EU/Central America meeting, which will be held a day later.
Friday, May 7th 2010 - 05:42 UTC
Hung Parliament in UK: Labour Looses but Cameron Short of a Majority

British Conservative Leader David Cameron said the Labour government has lost its mandate to govern, as exit polls suggested the Tories have won the largest number of seats in Britain's national election, but will not gain a majority.
Friday, May 7th 2010 - 05:40 UTC
Panic in Wall Street: Possible Electronic Error Plunges Markets 1.000 Points

United States regulators and stock exchanges are searching for answers after what is believed to be an electronic trading error set off a heart-stopping plunge in markets that rivalled the crash of 1987.
Friday, May 7th 2010 - 05:36 UTC
Greek Default “Is Not an Option” and “Never Has Been” Says IMF

A default by Greece on its debt obligations is not and has never been an option, a spokeswoman for the International Monetary Fund (IMF) said on Thursday. A Greek “default is not on the table, has not been on the table” insisted IMF director of external relations Caroline Atkinson.
Friday, May 7th 2010 - 05:33 UTC
ECB Leaves Euro Policy Unchanged; European Leaders Set to Approve Greek Rescue

European Central Bank president Jean-Claude Trichet faced down pressure for new moves to shore up the weakest Eurozone countries, but kept options open even as he said Spain and Portugal were “not Greece”.
Friday, May 7th 2010 - 05:31 UTC
Chinese Shares Plunge to 8 Month Low on Fears of Tight Credit

Chinese shares plunged to an eight-month low Thursday on persistent concerns over weak overseas markets and government measures to tighten credit and curb property speculation, dealers said.
Friday, May 7th 2010 - 05:27 UTC
Brazil’s Bovespa Plunges to a 3 Month Low and the Real to January 09 Level

Brazil’s Bovespa stock index plunged Thursday to a three-month low, extending its drop in the past month to 12%, and the Real tumbled as concern Europe’s debt crisis will spread prompted investors to sell higher-yielding assets.
Friday, May 7th 2010 - 03:33 UTC
French Navy Locates Black Box from Air France that Plunged into the Atlantic

The French navy has located the black box flight recorders from the Air France (EPA:AF) jet which plunged into the Atlantic killing 228 people last summer. However, officials said there was still no guarantee the recorders—that could explain the cause of the crash—would ever be brought to the surface.
Friday, May 7th 2010 - 01:41 UTC
UNASUR will Address “Coup Attempt-Honduras Model” in Paraguay

An imminent coup in Paraguay, Honduras-model, with the purpose of ousting President Fernando Lugo was analyzed by UNASUR (Union of South American Nations) leaders during the recent summit held in Buenos Aires, according to press reports from Argentina and Brazil.