Stories for 2012

Tuesday, July 10th 2012 - 05:21 UTC
Spain applies further budget savings and is granted another year to reach targets

Euro-zone ministers agreed early on Tuesday to grant Spain an extra year until 2014 to reach its deficit reduction targets in exchange for further budget savings and set the parameters of an aid package for Madrid's ailing banks.
Tuesday, July 10th 2012 - 05:19 UTC
“Activity level has dropped” says Argentine industrial union chief

The head of the Argentine Industrial Union, José Ignacio de Mendiguren, admitted that “it's clear that the activity level has dropped,” and warned that “the construction-related sectors delay the new projects.”
Tuesday, July 10th 2012 - 05:15 UTC
Pork for apples opens the way to normalize frozen Argentine/Brazilian trade

After two months of waiting, Brazil authorized the entry of apples from Argentina’s Alto Valle of Rio Negro and Neuquen. The news, which brings relief to local exporters, came after Argentina reopened its market to pork from Brazil.
Tuesday, July 10th 2012 - 05:11 UTC
Chavez declares he’s totally free of cancer “our offensive begins right now!”

Venezuela's President Hugo Chávez said on Monday he was fully recovered from cancer, three months before an election in which he is seeking another six-year term. “Free, free, totally free,” he told reporters when asked if he was free of the disease that struck a year ago.
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.