Stories for October 27th 2011

Thursday, October 27th 2011 - 23:34 UTC
Euro zone largest bank profits down as bad loans in Spain keep growing

The Euro zone's biggest bank Santander said it expected bad loans in Spain to keep on growing as Spaniards, blighted by unemployment and heavy mortgage debt, fall into arrears on payments.
Thursday, October 27th 2011 - 23:31 UTC
China ready to support Euro rescue fund and held stabilize global markets

French president Nicolas Sarkozy conferred with his Chinese counterpart Hu Jintao as European policy makers seek to build support for an enlarged rescue fund designed to resolve the region’s sovereign-debt crisis.
Thursday, October 27th 2011 - 23:22 UTC
Obama upbeat with the EU deal and improved performance of the US economy

President Barack Obama said on Thursday that European Union leaders have laid “a critical foundation” to solve the Euro zone debt crisis with their deal announced Wednesday evening.
Thursday, October 27th 2011 - 23:16 UTC
Uruguay passes bill eliminating prescription of crimes against humanity

The Uruguayan Congress passed early Thursday a law that eliminates the effects of the 1986 Amnesty Law (also known as Expiry Law), which protected police and military personnel from being prosecuted for human rights violations, and repeals a statute of limitations that would have prevented victims from filing criminal complaints as of 1 November.
Thursday, October 27th 2011 - 23:13 UTC
CFK opens huge mausoleum on first anniversary of her late husband death

President Cristina Fernández de Kirchner, CFK, attended Thursday a small private ceremony at the Río Gallegos cemetery (Santa Cruz province) and paid tribute to her late husband and former president, Néstor Carlos Kirchner, on the first anniversary of his death.
Thursday, October 27th 2011 - 20:41 UTC
VW plans 2bn factory in Pernambuco with Brazilian long-term soft loan

Volkswagen AG is negotiating with Brazilian authorities to build a 2 billion dollars factory in Brazil -- the latest foreign automaker looking to raise local output after a tax increase on imported cars
Thursday, October 27th 2011 - 20:13 UTC
Centennial of Amundsen and Scott’s South Pole feat next 14 December

British and Norwegian teams are in Punta Arenas, extreme south of Chile, preparing for a repeat of the South Pole feat on 14 December 1911 first accomplished by explorer Roald Amundsen and a month later by Sir Robert Scott.
Thursday, October 27th 2011 - 20:09 UTC
Wall Street growing insider trading scandal catches another big fish

Ex-Goldman Sachs director Rajat Gupta has turned himself in to the FBI and pleaded not guilty in court to securities fraud before being freed on a 10 million dollars bail.
Thursday, October 27th 2011 - 16:24 UTC
FDI in Argentina falls 30%; in Brazil and Colombia soars 157% and 91%

Foreign direct investment, FDI, in Argentina fell 30% in the first six months of this year, while the whole of Latin America and the Caribbean received 54% more, the United Nations Economic Commission for Latin America said in a report on its website.
Thursday, October 27th 2011 - 16:20 UTC
Peugeot cuts costs in Europe and announces double production in Brazil

French auto giant PSA Peugeot Citroen plans to double production in Brazil by 2015, part of a global shift towards emerging economies hastened by the downturn in Europe and the United States.