Argentina received a barrage of criticism at the World Trade Organization on Friday where the United States, European Union, Japan and 10 other countries accused it of tying imports up in red tape. They also requested Argentina provide a detailed written explanation of why in its view “these measures and practices are consistent with WTO rules”.
US lottery officials say they are increasing the MegaMillions lottery jackpot to 640 million dollars increasing what was already a world record prize. The previous record jackpot was 390 million dollars in 2007.
Beijing oil company PetroChina has become the world’s largest publicly-traded oil producer, surpassing Exxon Mobil Corp. in production last year, reported several international news agencies.
Spain is cutting 27bn Euros from its budget this year as part of one of the toughest austerity drives in its history. Changes will include freezing public sector workers' salaries and reducing departmental budgets by 16.9%.
A German V2 rocket from World War II has been found nose down in the mud flats at Harwich Harbour in the east coast of England. Royal Navy divers said it was buried vertically with about 1.5m of its tail exposed at low tide.
Uruguay reiterated its full and traditional support for Argentina’s sovereignty claims over the Falklands/Malvinas Islands, but at the same time underlined that “there is no blockade to the inhabitants of the Malvinas Islands by any country of the continent”, and clearly differentiated the Cuban and Malvinas blockades.
As Spain heads for its second recession since 2010 and unemployment stands at 23%, workers angry at a labour reform the government calls an unstoppable necessity staged a general strike on Thursday, bringing factories and ports to a standstill and igniting flashes of violence on the streets.
The US economy expanded as expected in the fourth quarter while personal income grew at a much faster pace than previously thought, according to the Commerce Department final estimate released Thursday.
A US judge threw out claims by bondholders on up to 2.21 billion dollars of Argentine funds held at the Federal Reserve Bank of New York, but criticized the country’s “continued intransigence” in refusing to pay creditors holding defaulted debt.
Brazil's Central Bank Monetary Policy Committee (Copom) reaffirmed the likelihood it will continue to cut rates and at the same time perhaps put into question its commitment to the 4.5% inflation target for 2013, according to the quarterly inflation report released Thursday morning.