Stories for August 2011

Saturday, August 6th 2011 - 08:26 UTC
Germany’s BMW planning assembly plant in Brazil to cater Mercosur luxury car demand

German automaker BMW said this week it would probably build its first assembly plant in Brazil after strong demand for luxury cars generated stellar earnings for the global leader.
Saturday, August 6th 2011 - 08:21 UTC
Unasur ready for potential balance of payments deficit caused by the North’s crisis

The Union of South American nations (Unasur), meeting in Peru Friday the region is well-positioned to withstand a sharper global downturn but want to insulate their economies further from a crisis of confidence they blame on Europe and the United States.
Saturday, August 6th 2011 - 08:15 UTC
US voters furious: disapproval of Congress rises to an all-time high of 82%

Disapproval of the United States Congress rose to an all-time high after weeks of rancorous partisan battles over raising the US debt ceiling took the country to the brink of default, according a New York Times/CBS News public opinion poll published on Friday.
Saturday, August 6th 2011 - 08:10 UTC
The unthinkable has happened: S&P downgrades the US credit rating

One of the top credit rating agencies, Standard & Poor's, has downgraded the United States' top-notch AAA rating for the first time ever. S&P cut the long-term US rating by one notch to AA+ with a negative outlook, citing concerns about budget deficits.
Saturday, August 6th 2011 - 00:15 UTC
Falklands refuses refund request from fishing companies on ‘value of catch’

Some fishing companies are feeling “a bit hard done by” having been caught out by a change in the Falkland Islands Government Fisheries Department refunds policy implemented for 2011, said Director of Fisheries John Barton.
Saturday, August 6th 2011 - 00:06 UTC
Paraguay/Uruguay sale of power remains blocked by Argentina

The sale of power from landlocked Paraguay to Uruguay remains in suspense given a “difference” in the toll price for the use of the Argentine grid to deliver the power.
Friday, August 5th 2011 - 20:06 UTC
China calls for global cooperation to solve dollar and euro debt problems

China's Foreign Minister called on Friday for more global cooperation to resolve US and Euro area debt problems as stock markets around the world tumbled on fears another financial storm may be developing.
Friday, August 5th 2011 - 19:55 UTC
Lula da Silva comes out in strong support Celso Amorim as defence minister

Brazilian former president Lula da Silva came out in full support of the latest cabinet reshuffle by President Dilma Rousseff who sacked the Minister of Defence Nelson Jobim following some derogatory remarks about the cabinet chief and the head of institutional relations (mainly with Congress).
Friday, August 5th 2011 - 19:17 UTC
Falklands/Malvinas conflict: To honour the dead, not use them

Argentine Veterans of the 1982 conflict want the bodies of the 123 “unknowns” at Darwin cemetery to be identified.
Friday, August 5th 2011 - 18:50 UTC
Argentina blasts US and EU: only way out of crisis is expanding public spending

Argentina's Deputy Economy Minister Roberto Feletti criticized the fiscal austerity measures being implemented in Europe and the US, saying those policies will only hurt the global economy.