Stories for August 27th 2013

Tuesday, August 27th 2013 - 22:06 UTC
Brazil’s Mantega admits ‘mini-crisis’; blames the US Fed confusing messages

Brazil's economy is going through a “mini crisis” stemming from global markets turbulence made worse by confusing messages from the US Federal Reserve, complained Finance Minister Guido Mantega.
Tuesday, August 27th 2013 - 21:59 UTC
Cristina Fernandez calls for reciprocity from foreign airlines operating in Argentina’s domestic market

Argentine President Cristina Fernandez got involved in the Lan Chile hangar conflict at the Buenos Aires metropolitan air terminal by praising the performance of re-nationalized Aerolíneas Argentinas and claiming that while foreign carriers can exploit the Argentine domestic market, “there is no reciprocity from other countries”.
Tuesday, August 27th 2013 - 21:55 UTC
China and emerging economies call on the Fed for prudence in unwinding stimulus

The US Federal Reserve must consider when and how fast it unwinds its economic stimulus to avoid harming emerging market economies, senior Chinese officials said on Tuesday. Financial markets are uneasy because the US Fed might decide to reduce its monthly bond buying when it meets on Sept 17 and 18.
Tuesday, August 27th 2013 - 21:46 UTC
UK tourism profits hit by soaring costs and fierce competition

The unexpected warm summer boosted trading at Britain’s hotels, pubs and restaurants as holiday makers took advantage of the soaring temperatures, a new report shows. But profits were hit due to the double whammy of rising raw materials costs and fierce competition that kept prices low, says the CBI’s quarterly service sector survey.
Tuesday, August 27th 2013 - 21:39 UTC
Arab tourists spend £1.3 billion in London

Initial estimates on foreign tourist purchases in London during this summer season are estimated to be worth £4 billion. Official statistics have not yet been disclosed. The contribution of Arab citizens to this figure is estimated to be worth £1.3 billion, says the British Commercial Association.
Tuesday, August 27th 2013 - 21:30 UTC
US aquifer supplying 30% of irrigated groundwater and stretching under eight states rapidly depleting

Almost 70% of the groundwater stored in parts of the United States' High Plains Aquifer, a vast underground reservoir that stretches through eight states, from South Dakota to Texas, and supplies 30% of the US irrigated groundwater, could be used up within 50 years unless current water use is reduced, a new study finds
Tuesday, August 27th 2013 - 21:24 UTC
Time for investors to hunker down: ‘markets look terrible’

It's time to step out from my 'normal' role as the 'energy expert' and make a comment or two on the markets in general, just as a professional trader who's seen quite a bit in his almost 3 decades of daily experience with capital markets and the way they act. Patterns emerge that aren't foolproof, but they've served well over the years and they are making some very visceral noises to me, even observing the action at longer range on vacation.
Tuesday, August 27th 2013 - 02:41 UTC
Falklands’ lawmaker arrives in Brasilia for round of contacts to promote the Islands

Falkland Islands lawmaker Dick Sawle is expected on Tuesday in Brasília, capital of Brazil where he will explain the Islanders’ decision to remain a British Overseas Territory and give an idea of life in the South Atlantic archipelago, its economy and social achievements as a prosperous, democratic community.
Tuesday, August 27th 2013 - 02:36 UTC
International tourist arrivals grew 5% in the first half, according to WTO

International tourist arrivals grew by 5% during the first half of 2013 compared to the same period of 2012, reaching almost 500 million, according to data just released by the United Nations World Tourism Organization. Growth was above the projection made at the beginning of the year (+3% to +4%) and is also exceeding the trend of the UNWTO long-term outlook Tourism Towards 2030 (+3.8% a year).
Tuesday, August 27th 2013 - 02:19 UTC
LAN appeals hangar eviction in Buenos Aires airport; unions pledge strike in support of Chilean carrier

Lan Chile went to court in Argentina on Monday to appeal its eviction from a hangar at the metropolitan Buenos Aires Aeroparque airport, which is a crucial element of its national and regional operations. Several unions have anticipated that if the eviction is not stopped they will go on strike and interrupt domestic flights.