Stories for June 2011

Tuesday, June 14th 2011 - 22:20 UTC
Facebook preparing for public offering; company value over 100 billion USD

Facebook is preparing to file for an initial public offering as early as October or November that could value the popular social networking site at more than 100 billion US dollars, financial news channel CNBC reported this week.
Tuesday, June 14th 2011 - 22:08 UTC
Iraq reconstruction 6.6bn USD are missing, says official US investigation

Some 6.6bn US dollars flown into Iraq eight years ago may have been stolen, according to a US official investigating fraud in the country. The missing money may represent “the largest theft of funds in national history”, investigator Stuart Bowen told the Los Angeles Times newspaper.
Tuesday, June 14th 2011 - 21:52 UTC
Humpback whale appears floating in the port of Montevideo

An eight metre long humpback whale with a big gash close to the mouth appeared dead in the port of Montevideo. According to local marine biologists the cetacean most probably collided with a vessel.
Tuesday, June 14th 2011 - 21:42 UTC
Timberland sold for 1.8bn USD with a 43% premium for shareholders

US clothing giant VF Corporation, parent of brands including The North Face, Wrangler jeans and Nautica, will buy Timberland for about 1.8 billion US dollars in cash, the companies announced Monday.
Tuesday, June 14th 2011 - 21:07 UTC
Volcanic ash cloud forces the re-programming of Mercosur technical meeting

The 83rd ordinary meeting of the Common Market Group in the framework of Mercosur and which was scheduled for this week has been re-programmed for June 16 and 17, because of the volcanic ash cloud that has disrupted normal air traffic.
Tuesday, June 14th 2011 - 20:47 UTC
EU/Mercosur trade talks are frozen on the “edge of the cliff”

Trade talks between Mercosur and the European Union have been frozen on the “edge of the cliff” because of the European debt crisis, differences over agriculture subsidies and other crucial issues according to sources in Brazil from both sides.
Tuesday, June 14th 2011 - 17:06 UTC
Seatrade Conference: South America cruise vessel operating costs ‘unbearable’

Cruise vessel operating costs in South America are becoming unbearable according to company representatives speaking at the South America Seatrade Conference.
Tuesday, June 14th 2011 - 16:56 UTC
UN forecasts unemployment in Latin America will drop below 7% in 2011

The strong economic recovery of Latin America and the Caribbean will make it possible to bring down unemployment significantly from 7.3% in 2010 to between 6.7% and 7.0% in 2011, according to ECLAC and ILO.
Tuesday, June 14th 2011 - 15:23 UTC
Religious leader attacks Brazilian ruling party for becoming consultants of big business

Brazilian Dominican friar Frei Betto considered one of the promoters of the so called Liberation Theology attacked the ruling Brazilian Workers Party because instead of fostering links with social movements prefer to be cosy with big business and their leaders have become consultants of business people and bankers.
Tuesday, June 14th 2011 - 15:12 UTC
One in six Argentine children aged 5-17 forced to work to help their families

An estimated 17.6% of Argentine children between the age of 5 and 17 living in urban areas are forced to work, according to a report from the Argentine Catholic University, UCA, released last week.