Stories for June 2011

Wednesday, June 8th 2011 - 06:01 UTC
One way Cubana airline tickets to jail for 14 Cubans and a Chilean ring master

A Cuban court has convicted 14 government officials and businessmen and a Chilean entrepreneur for corruption and bribery involving the state-owned airline and a tourism agency.
Wednesday, June 8th 2011 - 03:14 UTC
“A Lula da Silva man steps down; a Dilma woman moves in”

Brazilian Senator Gleisi Helena Hoffmann, 45, wife of Communications Minister Paulo Bernardo has been chosen by President Dilma Rousseff to replace outcast Antonio Palocci as chief of staff.
Wednesday, June 8th 2011 - 02:28 UTC
Embattled Palocci, the most influential official in Brazil’s cabinet, resigns

Brazil’s embattled Chief of Staff Antonio Palocci described by fellow ministers as the most influential official in President Dilma Rousseff's government resigned on Tuesday to prevent a scandal over his finances from becoming an ongoing distraction for the administration.
Wednesday, June 8th 2011 - 02:17 UTC
Uruguayan homes pay highest power rates and fuel prices in South America

Uruguayan homes pay the dearest rates for power in South America and the highest fuel prices in the region, including taxes, according to a paper from the Argentine energy consultants Montamat & Asociados, released last month.
Wednesday, June 8th 2011 - 02:12 UTC
Germans don’t work as hard or intensely as Southern Europeans

Southern Europeans work more and longer than Germans revealed a study discarding recent comments made by Chancellor Angela Merkel arguing that workers in debt-mired Greece, Spain and Portugal are lazy.
Wednesday, June 8th 2011 - 00:09 UTC
Argentine debt expert forecasts significant “hair cuts” for Greek bond holders

Holders of Greek bonds will suffer a larger ‘hair cut’ than that experienced by Argentine creditors forecasts Argentina’s former Finance Secretary Guillermo Nielsen who played a crucial role in negotiations with creditors following the 2002 default.
Tuesday, June 7th 2011 - 23:06 UTC
Brazil inflation slows down in May; Central bank decides Wednesday on rates

Brazilian inflation slowed to its lowest level in eight months in May as fuel costs dropped. The sharp drop in the monthly inflation reading provided relief to policymakers who have battled surging prices this year with three interest rate hikes, public spending cuts and steps such as credit curbs to take steam out of the economy.
Tuesday, June 7th 2011 - 22:59 UTC
Brazil, Uruguay, Chile and Peru shoppers, most promising for retail expansion

Brazil, Uruguay, Chile and Peru figure among the short list of top ranked developing countries for global retail expansion. In the 10th annual Global Retail Development Index (GRDI), elaborated by global management consulting firm A.T. Kearney, Brazil jumped to first place from number 5 in last year’s study.
Tuesday, June 7th 2011 - 22:31 UTC
Peru’s economic fundamentals sound and will be respected, says Humala

The Peruvian currency and Lima’s stock market partially recovered on Tuesday from the dramatic Monday collapse when it was confirmed nationalist Ollanta Humala had been elected in a very tight run-off to become the country’s next president.
Tuesday, June 7th 2011 - 22:00 UTC
Airlines suspend flights from Uruguay, fearing the volcanic ash cloud

Flights from Uruguay’s Carrasco international airport were suspended on Tuesday until further notice because of the proximity of Chile’s Puyehue volcano ash cloud that on Monday forced similar decisions for Buenos Aires City main international and domestic air terminals.