Stories for August 2011

Friday, August 5th 2011 - 18:44 UTC
US payroll data comes as a relief, but markets fear recession ‘round the corner’

US job growth accelerated more than expected in July as private employers stepped up hiring, a development that could ease fears the economy was sliding into a fresh recession.
Friday, August 5th 2011 - 18:35 UTC
France opens court investigation into killing of two students in Argentina

A court investigation over the “kidnapping, rape and murders,” of the two French women killed in Salta, northern Argentina was opened Friday in Paris, French court sources informed.
Friday, August 5th 2011 - 08:14 UTC
Unasur Finance ministers meet in Peru to address the glut of US dollars

Unasur Finance ministers struggling to stop economic harm from several years of US dollar decline will seek to agree on a coordinated response when they meet Friday in Lima.
Friday, August 5th 2011 - 08:05 UTC
Developed countries “will try to pass the crisis down on us”, claims CFK

Argentine President Cristina Fernández de Kirchner (CFK) referred to plummeting global markets and blasted developed countries for the potential consequences of the crisis. Economy minister Amado Boudou said Argentina was closely following events with concern.
Friday, August 5th 2011 - 08:01 UTC
Chaos in Chile’s main cities as police clash with protesting students: 550 arrests

More than 550 people were arrested and 31 wounded in cities across Chile Thursday when police fired water cannons and tear gas to disperse student protesters calling for education reforms.
Friday, August 5th 2011 - 07:54 UTC
Celso Amorim Brazil’s new Defence minister; Jobim out on derogatory remarks

Brazilian Defence Minister Nelson Jobim resigned after criticizing recent government names to reporters and will be replaced by ex-foreign minister Celso Amorim, the president's office said Thursday.
Friday, August 5th 2011 - 07:47 UTC
Obama administration confident Geithner will remain in his job

President Barack Obama’s senior advisers are confident Treasury Secretary Timothy Geithner will remain in his job even though he hasn’t made his intentions public, an administration official said.
Friday, August 5th 2011 - 07:42 UTC
Black Thursday in US and Europe turns into black Friday in Asia

Asian stock markets have slumped on Friday, extending a global equity sell-off after Wall Street had its worst day in more than two years. Japan's main Nikkei 225 index shed 3.4% to 9,329.75. South Korea lost 4.2%, Australia slid 2.4% and China's Shanghai SE Composite Index was down 2%.
Friday, August 5th 2011 - 07:39 UTC
Latam markets suffer some of their worst losses since 2009

Latin America’s main stock exchanges suffered strong losses on Thursday much in line with plunging world markets and reflecting contagion of growing uncertainties that the fragile global recovery is again on the verge of a recession.
Friday, August 5th 2011 - 01:43 UTC
China takes over South Africa’s Standard Bank network in Argentina

Industrial and Commercial Bank of China Ltd (ICBC) announced Friday it would buy stakes in Standard Bank Argentina and another two institutions from Standard Bank Group Ltd for about 600 million dollars as it expands into South America as part of its global strategy that includes Europe, India and Pakistan.