Stories for May 2012

Wednesday, May 16th 2012 - 01:07 UTC
Brazil planning to cut taxes on electricity to help reduce industry costs

The Brazilian government has plans to cut and simplify taxes for electricity producers and distributors as part of a strategy to reduce Brazil's high business costs and stimulate its struggling economy, reports Reuters.
Wednesday, May 16th 2012 - 01:03 UTC
President Rousseff happy and supportive of the 2 dollars Real

The Brazilian Real dropped past 2 per dollars for a second day as President Dilma Rousseff said it has been “extremely overvalued,” encouraging speculation the currency of Latin America’s biggest economy may fall further.
Wednesday, May 16th 2012 - 00:59 UTC
Deadly attack against former minister in the heart of Bogotá kills 2, injures dozens

A bomb targeting a hard-line former Colombian interior minister killed two of his bodyguards and injured at least 31 others in the heart of Bogotá’s uptown commercial district Tuesday, authorities said.
Tuesday, May 15th 2012 - 16:08 UTC
Greek exit from the Euro could cost French taxpayers 66.4bn Euros, says report

An exit of Greece from the Euro zone could cost the French taxpayer up to 66.4 billion Euros and saddle the country's banking system with 20 billion Euros in lost loans, according to a study published on Tuesday.
Tuesday, May 15th 2012 - 15:53 UTC
Economy receives Hollande with anaemic performance: zero growth in Q1

France's economy stalled in the first quarter as household consumption flat lined, businesses pared back investment and exports slowed, underlining the challenge facing Socialist President Francois Hollande who took office on Tuesday.
Tuesday, May 15th 2012 - 15:47 UTC
Hollande names parliamentary leader and Germany expert as Prime Minister

French President Francois Hollande named veteran Socialist parliamentary leader and Germany-expert Jean-Marc Ayrault as prime minister on Tuesday, an appointment which may help smooth negotiations with Berlin on tempering austerity in Europe.
Tuesday, May 15th 2012 - 15:40 UTC
New elections in Greece; Hollande flies to meet with Merkel in Berlin

Attempts to form a government in Greece collapsed on Tuesday rattling financial markets at the prospect of extremist parties opposed to the terms of an EU bailout could sweep to victory and push the Euro zone crisis into a dangerous new phase.
Tuesday, May 15th 2012 - 08:35 UTC
Argentine Vice-president and business partners charged with embezzlement

Argentine Vice President Amado Boudou, his girlfriend the journalist Agustina Kampfer, his personal friend and business partner José María Nuñez Carmona, and the Belgian citizen and businessman Alejandro Vandenbroele, were charged on Monday of embezzlement by Federal Prosecutor Jorge Di Lello.
Tuesday, May 15th 2012 - 08:30 UTC
Hollande is sworn as French president and flies to talks with Merkel in Berlin

Socialist Francois Hollande is to be sworn as France's president Tuesday before naming a prime minister and dashing to Germany to battle with Berlin over how to tackle Europe's debt crisis.
Tuesday, May 15th 2012 - 08:25 UTC
Argentina further delays the dredging of a River Plate canal vital for Uruguay

Argentina formally requested Uruguay to jointly audit the River Plate Administrative Commission, CARP for alleged corruption claims involving the maintenance of the Martin Garcia canal, and which emerged in the Uruguayan press.