Stories for July 9th 2012

Monday, July 9th 2012 - 21:07 UTC
Paraguayan industry lobby says forget Mercosur, calls for talks with Pacific Alliance

The president of the Paraguayan Industrial Union Eduardo Filippo said it was essential for the country to establish negotiations outside Mercosur, following the suspension from the group by the remaining three members allegedly because of the rupture of the democratic order.
Monday, July 9th 2012 - 19:59 UTC
Morgan Stanley cuts Argentina’s growth estimates and forecasts 2013 devaluation

Morgan Stanley has cut its 2012-13 growth forecasts for Argentina and forecasts a sharp devaluation of the Argentine peso next year as the economy starts to unravel amid high inflation and policy missteps.
Monday, July 9th 2012 - 18:54 UTC
Bad weather threatening crops in farming giants but it’s not like 2008

A second global food price shock is gathering steam as bad weather decimates crops in the farming giants US, Brazil, Argentina, India, Russia, the EU and Australia that feed the world, according to market analysts.
Monday, July 9th 2012 - 18:32 UTC
Canadian cowboy plans to ride 16.000 kilometres and reach Brazil in 2014

A Canadian cowboy hopes to join the ranks of the long riders as he rode out of Calgary, Alberta on Sunday for an epic journey to his birthplace in Brazil. Filipe Masetti Leite intends to spend the next two years riding his two horses, “Bruiser” and “Frenchie,” through 12 countries in North, Central and South America.
Monday, July 9th 2012 - 18:13 UTC
Euro zone to tighten financial regulation following the Libor rigging scandal

Michel Barnier, the European commissioner in charge of financial regulation, is expected to bring forward changes to his market abuse directive and regulation within in the next weeks, the Financial Times said on Monday.
Monday, July 9th 2012 - 18:04 UTC
BoE Tucker denies making any suggestions to Barclays on the Libor (in 2008)

The deputy governor of the Bank of England (BoE) has said he did not give Barclays instructions to lower its Libor submissions in 2008. Paul Tucker said no government minister had asked him to “lean on” Barclays over its inter-bank lending rates. But he also told MPs that the BoE and the government feared that Barclays may need a bailout.
Monday, July 9th 2012 - 17:55 UTC
Norwegian company completes most successful Antarctic krill season

Olympic Seafood AS has announced that its vessel ‘Juvel’ has recently completed its most successful Antarctic krill season ever, with record efficiency and a catch of the utmost quality.
Monday, July 9th 2012 - 12:45 UTC
Bolivia: Indigenous rioting threaten Canadian mining company with nationalization

Bolivia will consider nationalizing Canadian miner South American Silver Corp's silver property, President Evo Morales said on Sunday, following violent indigenous protests against the mining project.
Monday, July 9th 2012 - 12:41 UTC
Deadline for major Indian iron and steel project in Bolivia

Jindal Steel & Power Ltd. and the Bolivian government are still in talks to see if the Indian company's 2.1 billion dollars mining and steel-manufacturing venture can be salvaged, a senior executive said Friday.
Monday, July 9th 2012 - 12:29 UTC
Brazil plans to become main producer/exporter of iron ore by 2015

Hong Kong's Honbridge Holdings Ltd plans to build a 420-kilometre pipeline to ship iron-ore from a mine in Brazil's Minas Gerais state to a port on the country's Atlantic coast, the Estado de Minas newspaper reported.