Stories for October 2012

Friday, October 26th 2012 - 00:14 UTC
Brazil central bank says ‘recovery in underway’ and inflation in ‘under control’

Brazil Central Bank President Alexandre Tombini Tuesday said “there are consistent signs that the recovery of economic growth is underway” and insisted despite some market skepticism, that inflation is “under control.”
Friday, October 26th 2012 - 00:10 UTC
Lula da Silva’s magic ensures Sao Paulo City in Sunday’s municipal run-off

The electoral magic of former Brazilian president Lula da Silva did it again: the country’s major financial and industrial hub, the city of Sao Paulo only a few weeks ago was turning its back on the ruling Workers party at the municipal elections, but is now to his feet probably with a landslide victory.
Thursday, October 25th 2012 - 23:51 UTC
GM to invest 450m in Argentina to manufacture a global Chevy vehicle

General Motors (GM) will invest 450m dollars to manufacture a new global Chevy vehicle at its Rosario Automotive Complex in Argentina. The investment will be made between 2013 and 2015 at the Rosario facility, which produced more than 136,000 vehicles in 2011.
Thursday, October 25th 2012 - 23:48 UTC
Antarctic ozone hole in 2012, the second smallest in the last 20 years, says NASA

The average area covered by the Antarctic ozone hole this year was the second smallest in the last 20 years, according to data from NASA and National Oceanic and Atmospheric Administration (NOAA) satellites. Scientists attribute the change to warmer temperatures in the Antarctic lower stratosphere.
Thursday, October 25th 2012 - 19:21 UTC
Big business call on US Congress to cut the budget deficit with tax reform

Chief executives of more than 80 big US corporations, including Goldman Sachs, JPMorgan and Boeing, joined forces today to pressure Congress to reduce the federal deficit with tax reform and spending cuts.
Thursday, October 25th 2012 - 19:12 UTC
Hong Kong intervenes to weaken its currency, threatened by capital inflow surge

Hong Kong's central bank has intervened in financial markets again, weakening the value of its currency after it jumped in value. This follows similar moves on Sunday and pushes the total cost of intervention in the past week to 14.3bn Hong Kong dollars (1.85bn dollars).
Thursday, October 25th 2012 - 19:06 UTC
Santander quarterly profits plummet 90%; property losses provision of 3.5bn euros

Spanish bank Santander has said its quarterly profits fell by more than 90% after taking provisions for bad property loans in its local market. Net income fell to 100m Euros in the third quarter from 1.8bn Euros in the same period last year, it said.
Thursday, October 25th 2012 - 19:02 UTC
BBC presenter sexual abuse scandal widens, with 300 possible victims

The number of possible sexual abuse victims of BBC TV presenter and DJ Jimmy Savile has risen to 300, Scotland Yard has confirmed. Savile who died last year aged 84, may have abused scores of young girls and some boys over a 40-year period.
Thursday, October 25th 2012 - 18:51 UTC
Ghana port authorities want ARA Libertad moved to anchorage; Argentina refuses

Ghanaian officials asked a judge Thursday to order the Argentine navy ship detained in the West African nation over a debt dispute to be moved because it was blocking valuable space at the port of Tema.
Thursday, October 25th 2012 - 18:39 UTC
ARA Libertad: Defence minister takes responsibility; Ghana embarrassed with the incident

Argentine Defence Minister Arturo Puricelli took responsibility on Thursday for the fate of the navy training frigate Libertad, which continues to be impounded in Ghana. Meanwhile from Ghana a top official said the country was “embarrassed” with the whole incident.