Stories for October 1st 2010

Friday, October 1st 2010 - 18:20 UTC
Chinese oil group Sinopec buys 40% of Repsol-YPF Brazil operations

China’s Sinopec group, the country’s second-largest oil and gas producer, will invest 7.1 billion US dollars in Repsol-YPF’s Brazilian unit as the Spanish oil company raises funds to develop offshore projects.
Friday, October 1st 2010 - 18:18 UTC
Chevron given green light for exploratory drilling off Shetland Islands

Oil firm Chevron has received government consent to drill an exploration well to evaluate a controversial prospect off Shetland. The deep-water Lagavulin prospect is 160 miles north of the islands.
Friday, October 1st 2010 - 05:53 UTC
Unasur emergency summit in Buenos Aires in support of Correa and democracy

The Union of South American Nations, UNASUR is holding an emergency summit in Buenos Aires to discuss the situation in Ecuador and express full support for President Rafael Correa, who was virtually kidnapped for hours by protesting members of the police force until freed by Army troops.
Friday, October 1st 2010 - 05:38 UTC
Ecuador president, hostage of mutinous police freed by elite Army forces

Ecuador’s elite forces freed President Rafael Correa late Thursday in a raid on a hospital where police held him captive as part of wage dispute that regional leaders labeled an organized coup attempt.
Friday, October 1st 2010 - 05:13 UTC
Labour market recession ‘worsening’; recovery delayed until 2015

A new report by the research arm of the International Labour Organization (ILO) says a long “labour market recession” is worsening the social outlook in many countries.
Friday, October 1st 2010 - 05:12 UTC
Fossil of giant penguin, double the size of an Emperor, found in Peru

The fossil of a giant penguin that lived 36 million years ago has been discovered in Peru. Scientists say the find shows that key features of the plumage were present quite early on in penguin evolution.
Friday, October 1st 2010 - 05:02 UTC
Argentina grants political asylum to former Chilean guerrilla

Argentina granted political asylum Thursday to a former Chilean guerrilla fighter charged in his country with assassinating a senator and kidnapping a businessman, whose extradition was repeatedly requested by the government of Sebastian Piñera. The decision has the potential to sour bilateral relations.
Friday, October 1st 2010 - 04:56 UTC
Piñera promises actions to weaken the Chilean peso in next year’s budget

Chilean president Sebastian Piñera on Thursday reiterated that next year's budget would aim to ease a rapidly appreciating currency that is hurting the country’s exporters.
Friday, October 1st 2010 - 04:27 UTC
Brazil, a rising power, but beware of excessive triumphalism

Opinion polls indicate that the candidate from the ruling Workers Party Dilma Rousseff, hand picked by Lula da Silva, will win Brazil’s presidency next Sunday. A run off is scheduled for a month later if no candidate gets 50% of the ballot, but in any of the two options Ms Rousseff is forecasted to take office next January first .
Friday, October 1st 2010 - 04:24 UTC
Falklands’ representatives meet with Liberal Democrats leader Nick Clegg

The Falkland Islands were represented at Britain’s Liberal Democrat party conference which was held in Liverpool from Saturday until Monday, (September 17/20). Since the fall of Labour, Britain is ruled by a Conservative-Liberal Democrat coalition led by PM David Cameron and Deputy PM Nick Clegg.