Stories for June 2010

Wednesday, June 30th 2010 - 06:00 UTC
China and South America crucial for globalized General Motors recovery

General Motors CEO Ed Whitacre Jr. told analysts Tuesday that the automaker has changed since bankruptcy from a “shell-shocked” and “overly complicated company” to a sharply focused one that has a clearer sense of its global strengths and a passion to win back customers in the United States.
Wednesday, June 30th 2010 - 05:57 UTC
Six decades since splitting China and Taiwan sign milestone trade pact

China and Taiwan have signed a historic trade pact, seen as the most significant agreement since civil war split the two governments 60 years ago. The Economic Co-operation Framework Agreement (ECFA) removes tariffs on hundreds of products. It could boost bilateral trade that already totals 110 billion US dollars a year.
Wednesday, June 30th 2010 - 05:50 UTC
US dollar should be replaced by a more stable system, says UN report

The US dollar is an unreliable international currency and should be replaced by a more stable system, the United Nations Department of Economic and Social Affairs said in a report released Tuesday.
Wednesday, June 30th 2010 - 05:41 UTC
Falklands MPA will undergo six months of resurfacing; air bridge confirmed

Two Boeing 767-300s have been confirmed as the aircraft to be used for the South Atlantic Airbridge linking Brize Norton in the UK with the Falkland Islands while the Mount Pleasant runway is being resurfaced later this year.
Wednesday, June 30th 2010 - 05:31 UTC
Lula da Silva anticipates World Cup semi-finals with four Mercosur members

Brazilian President Lula da Silva said on Tuesday he expects the four Mercosur countries Argentina, Brazil, Paraguay and Uruguay to meet in the semi-finals of the World Cup in South Africa.
Wednesday, June 30th 2010 - 05:21 UTC
Brazil largest meat processor JBS targeting US top pork producer

Shares of Smithfield Foods Inc., the top U.S. pork producer, jumped as much as 8.3% Tuesday on speculation the company may be a takeover target for Brazil-based meat processor JBS S.A. A report in the Brazilian publication Valor Economico, citing market sources said JBS may seek discussions over an acquisition with Smithfield.
Wednesday, June 30th 2010 - 05:19 UTC
UK Pavilion has won Royal Institute of British Architects’ Lubetkin Prize

The UK Pavilion at the Shanghai Expo 2010 has scooped the prestigious RIBA (Royal Institute of British Architects’) Lubetkin Prize for the most outstanding work of architecture outside the European Union by a RIBA member.
Wednesday, June 30th 2010 - 05:14 UTC
Caterpillar expanding plant in Brazil to meet growing Latam demand

US corporation Caterpillar Inc. said Tuesday it will build a new manufacturing facility in Brazil to meet growing customer demand there and across Latin America.
Wednesday, June 30th 2010 - 05:10 UTC
BIS recommends slashing budget deficits and rising borrowing costs

Governments must slash budget deficits decisively and central banks should not wait too long to raise borrowing costs as side effects from measures prescribed to tackle the global recession may create the next crisis according to the Bank for International Settlements.
Tuesday, June 29th 2010 - 05:40 UTC
Boosted by agriculture Paraguay set to expand 6% in 2010

Paraguay expects an annual growth of 5% by the end of President Fernando Lugo’s administration which finishes in 2013 and inflation should not be higher than one digit said Economy Minister Dionisio Borda.