Stories for July 13th 2011

Wednesday, July 13th 2011 - 21:40 UTC
EC checks into German government aid to car manufacturers

European Commission is to examine aid paid out by the German government to car manufacturers BMW and Volkswagen. The money has been pledged to promote projects in eastern Germany.
Wednesday, July 13th 2011 - 21:30 UTC
South America forecasted to grow 5.1% in 2011, but with serious challenges

Latin America and the Caribbean will maintain the recovery that began in the second half of 2009, following the international economic crisis and are poised to grow 4.7% in 2011 with a strong boost from domestic demand, according to the latest report from the Economic Commission for Latin America and the Caribbean.
Wednesday, July 13th 2011 - 19:13 UTC
In spite of slower growth, Brazil’s consumers and industrial capacity on over time

Economic activity in Brazil expanded 0.17% in May over the previous month, the slowest pace this year, according to the Central Bank’s seasonally adjusted index. As direct reference growth in April was 0.44%. However the May figure is 4.25% over a year ago.
Wednesday, July 13th 2011 - 18:55 UTC
One bite too much for Brazil’s biggest TV dinner and frozen meat maker

Brasil Foods, Brazil’s biggest maker of TV dinners and frozen meat products, won conditional approval of its 3.8 billion US dollars takeover of rival Sadia SA as Brazilian regulators ordered it to stop using a top brand and sell some assets to ensure domestic competition.
Wednesday, July 13th 2011 - 18:49 UTC
Europeans countries borrowing on Germany’s credit rating is over, says Dragui

Europe’s debt crisis has entered a new phase and policy makers must come up with a “clear” response to stop the contagion that threatens the region’s single currency, said the European Central Bank’s incoming President Mario Draghi.
Wednesday, July 13th 2011 - 16:59 UTC
Support for EU beef farmers, in the event of a Mercosur deal, is “not enough”

Members of the European Parliament discussing the agriculture budget said that compensation for beef farmers that could face Mercosur competition, if a trade agreement is finally reached, “is not enough” and anticipated that “we will not accept sweeteners in this area”.
Wednesday, July 13th 2011 - 16:35 UTC
Europe unveils plan to reform fishing industry and phase out ‘discards’

European Commission has unveiled major plans to reform the EU fishing industry and stop catches being wasted. The proposal, due to take effect from 2013, would give fleets quota shares guaranteed for at least 15 years.
Wednesday, July 13th 2011 - 16:30 UTC
Fed ready to inject new stimulus if US economy remains persistently weak

Federal Reserve Chairman Ben Bernanke said the central bank is ready to ease monetary policy further if the economy weakens and inflation moves lower, suggesting policymakers are actively mulling further stimulus.
Wednesday, July 13th 2011 - 16:24 UTC
Chavez admits he may need chemotherapy treatment after cancer surgery

Venezuelan leader Hugo Chavez acknowledged for the first time he may need radiotherapy or chemotherapy for ongoing treatment after cancer surgery in Cuba, the presidential office said.
Wednesday, July 13th 2011 - 16:16 UTC
Battle for majority control of Brazil’s retail industry falls through

Brazilian retail tycoon Abilio Diniz has suspended plans to merge his supermarket chain Grupo Pao de Acucar with the local arm of France's Carrefour. The move comes after the Brazilian state development bank BNDES and a private fund backed out of supporting the deal.