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.
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.
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.
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.
Robert da Fonseca, director of the Sao Paolo Industry Federation, FIESP admitted on Friday that Brazilian businessmen are “worried” with the commercial conflict that Argentina and Brazil face.
Chile’s Arauco the forestry and pulp unit belonging to the Copec group, trebled profits in the first quarter boosted by higher international prices and sale volumes particularly pulp, according to the company’s latest financial report.
Brazil will respond to the requests from industry and unions to reduce taxes to help boost local manufacturing and thus cut into the growing impetus of imports, promised Vice-President Michel Temer during a seminar sponsored by the powerful São Paulo Federation of Industries, FIESP, together with the two main organized labour unions.
The Air France jet which crashed into the Atlantic en route from Rio in 2009 stalled and fell in three and a half minutes, French investigators report. The air accident investigations bureau (BEA) found the crew had struggled with contradictory speed readings just before the plane crashed.
The Union of South American Nations, Unasur, has among the objectives of the recently created South American Defence Council protecting the natural resources of the region which include 25% of the world’s drinking water and proven oil reserves estimated in 123 billion barrels of oil.
Finance Minister Christine Lagarde is the wrong choice to head the International Monetary Fund as it gets deeper into the Euro-zone rescue, a former IMF chief economist said this week.