Stories for June 2012

Monday, June 18th 2012 - 07:12 UTC
Europe’s richest man is Spaniard Amancio Ortega, owner of Zara clothing chain

Just as Spain asked Europe for a bailout of 125 billion Euros, Amancio Ortega, the septuagenarian Spaniard who founded retailer Inditex SA became the region’s richest man.
Monday, June 18th 2012 - 07:06 UTC
France defies Germany proposes 120bn Euros “pact for growth” to EU leaders

French President Francois Hollande has proposed a 120 billion Euro “growth pact” ahead of key talks with Euro zone leaders, newspaper Le Journal du Dimanche reported on Sunday.
Monday, June 18th 2012 - 05:10 UTC
France deposits full confidence in Hollande and his promised growth-strategy

France's Socialists won control of parliament on Sunday, handing President Francois Hollande the convincing majority he needs to push through his tax-and-spend agenda to battle the Euro zone debt crisis.
Monday, June 18th 2012 - 03:24 UTC
Brussels willing to soften austerity measures for the Greek pro-bail out government

European governments signaled a willingness to relent on Greece’s austerity measures as leaders turn from an election victory by Greek bailout proponents to focus on safeguarding the other 98% of the Euro economy
Monday, June 18th 2012 - 03:18 UTC
Frozen fuel prices make it difficult for Petrobras to engage in ambitious development program

Brazil's state-led oil company Petrobras is likely to struggle to find the cash to pay the recently announced world's largest corporate investment program. The country needs money to pay hundreds of ships and dozens of oil fields, drill-rigs and platforms it wants in order to catapult Brazil into the ranks of the world's top-four oil producers by 2020.
Monday, June 18th 2012 - 03:12 UTC
“An agreement over the Falklands is a matter of time”, says world affairs analyst

Analyst of the Investigation Conflicts Unit at The Hague, Ivan Briscoe said that some kind of agreement involving the Argentine claim of sovereignty of the Falkland/Malvinas Islands is only a matter of time.
Monday, June 18th 2012 - 02:24 UTC
Ban Ki-moon good offices on Falklands issue if “both parties are willing to engage”

United Nations Secretary General Ban Ki-moon reiterated his good offices to help resolve the Falklands/Malvinas sovereignty dispute between Argentina and the UK, but also pointed out “as long as the parties are willing to engage”.
Monday, June 18th 2012 - 01:12 UTC
European crisis could reduce Latin America’s growth prospects by 40%

An aggravation of the European crisis could reduce growth prospects in Latin America up to 40%, said the Inter American Development bank president Luis Alberto Moreno, particularly because of the influence of European financial institutions in the influx of capital to the region.
Monday, June 18th 2012 - 01:02 UTC
UN calls to join ‘Save Food’, an initiative to cut down on food losses and waste

The United Nations Food and Agriculture Organization (FAO) and key partners called on companies and organizations around the world to join in SAVE FOOD, a global initiative designed to cut down on food losses and waste.
Monday, June 18th 2012 - 00:56 UTC
Chile’s ENAP recovers oil concession revoked when Argentina seized YPF from Repsol

Chile's state-owned oil and gas company ENAP, Empresa Nacional del Petroleo, recovered the Southern Argentine concession revoked in March by Chubut province, when the dispute over YPF, ENAP said in a statement Friday.