A surge in fresh food prices has pushed Argentina’s August consumer inflation to one of the highest of the year, 2% over the previous month, according to private consultant estimates and published in the Buenos Aires press.
Brazil's economy expanded at a softer pace in the second quarter as a strong currency fueled a flood of cheap imports and industrial activity had its worst performance since the third quarter of 2009.
US authorities announced legal actions against 17 major banks for losses on mortgage-backed investments that cost taxpayers tens of billions of dollars. The Federal Housing Finance Agency said it was taking action against banks including Goldman Sachs, Barclays, Bank of America, Deutsche Bank, and HSBC.