Stories for August 2011

Thursday, August 25th 2011 - 00:00 UTC
Brazilian government comes to the rescue of giant meat corporation JBS SA

Brazilian meat giant JBS S.A. has announced that BNDES (Brazilian Development Bank) converted a large amount of JBS debt into equity, boosting the bank’s shareholdings in the company to 30.4% from 17% previously.
Wednesday, August 24th 2011 - 23:53 UTC
Risk of Euro breaking up is holding back US recovery, says Greenspan

The risk that Europe's single Euro currency could break up is the main factor holding back the US economy, former Federal Reserve Chairman Alan Greenspan said, though he stopped short of predicting a new recession in the US.
Wednesday, August 24th 2011 - 23:43 UTC
Japan's turn to have its rating cut blaming debt and political problems

Moody's Investors Service cut this week its rating on Japan's government debt by one notch to Aa3, blaming a build-up of debt since the 2009 global recession and revolving-door political leadership that has hampered effective economic strategies.
Wednesday, August 24th 2011 - 23:22 UTC
Savage infighting in Brazilian coalition exposes President Rousseff political weakness

A Brazilian minister accused his own party of trying to destroy him and said he might not have enough support to continue in his job, raising the odds of yet another high-level departure from President Dilma Rousseff's beleaguered government.
Wednesday, August 24th 2011 - 22:56 UTC
Major earthquake rocks Amazon region of Peru, next to Brazil, felt in Lima

A 7.0-magnitude earthquake struck a remote Amazon region of Peru on Wednesday, shaking office buildings far away in the capital and in neighbouring Brazil although no injuries or damage were reported immediately.
Wednesday, August 24th 2011 - 22:15 UTC
Two-day strike takes off in Chile with Piñera increasingly debilitated

The Chilean capital Santiago was witnessing another tumultuous day on Wednesday as protests started to sweep the nation’s capital and unions called for a two day nationwide shutdown to protest the educational system.
Wednesday, August 24th 2011 - 07:28 UTC
President Rousseff battles for cohesion in a disappointed ruling coalition

Brazilian president Dilma Rousseff said on Tuesday that the two main parties of the ruling coalition, “PT (Workers party) and the PMDB (Brazilian Democratic Movement) are the basis of the stability and trust of the government”.
Wednesday, August 24th 2011 - 07:26 UTC
Impatient Raul Castro calls on Cubans “to clear our heads of ideological rigidity”

Cuban President Raul Castro is increasingly impatient with the slow implementation of his economic reforms, which he publicly blames mostly on bureaucratic sloth and resistance to change.
Wednesday, August 24th 2011 - 07:21 UTC
Chavez only recognizes the Gaddafi government; accuses US of inciting civil war

Venezuelan President Hugo Chávez said he will only recognize a Libyan government led by his friend and ally Muammar Gaddafi and accused the United States of inciting the country's civil war.
Wednesday, August 24th 2011 - 07:10 UTC
Strauss-Khan free but faces civil lawsuit and rape investigation case in France

Former International Monetary Fund chief Dominique Strauss-Khan, no longer facing sexual-assault charges in New York for what one of his lawyers called “inappropriate behaviour,” remains a defendant in a civil lawsuit by his accuser and the subject of a French rape investigation.