Stories for May 28th 2011

Saturday, May 28th 2011 - 07:18 UTC
Tough prospects for Japan: car output down; credit rating lowered and recession

A complicated week for Japan: car production in April plunged as manufacturers continue to face a shortfall in parts supply and credit rating agencies downgraded the outlook on the country’s debt to negative from stable.
Saturday, May 28th 2011 - 07:11 UTC
US Supreme Court confirms controversial Arizona anti-illegal immigrant employment law

The United States Supreme Court gave its blessing this week to one of the strong immigration control laws passed by the state of Arizona, a law that has served as a model for similar measures in other states.
Saturday, May 28th 2011 - 07:03 UTC
Mexico strikes major gas deposit in Gulf of Mexico deep water drilling

State-owned oil giant Petroleos Mexicanos, Pemex, announced this week it had struck between 400 billion and 600 billion cubic feet of natural gas and condensates at a deepwater well in the Gulf of Mexico.
Saturday, May 28th 2011 - 00:36 UTC
Uruguay successfully floats Samurai bonds; warnings of economy over-heating

Interest for Uruguayan ten-year bonds in Yens more than doubled the issue equivalent to 490 million US dollars. The bonds are guaranteed by Japan Bank for International Cooperation with a 1.6% yield.

Tough prospects for Japan: car output down; credit rating lowered and recession