Economy

• Thursday, November 17th 2011 - 01:32 UTC

  Argentina cuts utilities subsidies to large companies and high-income households

  

  Argentina announced Wednesday a further adjustment to its extended public utilities (electricity, water and gas) subsidies policy and this time the cuts will apply to large companies and high income households.

• Wednesday, November 16th 2011 - 16:26 UTC

  Paraguay criticized for its handling of the FMD outbreak

  

  The Southern Cone Standing Veterinary Committee, CVP, accused Paraguay of not complying with promises related to foot and mouth disease, FMD, control following on the outbreak reported to the north of the country last September 18.

• Wednesday, November 16th 2011 - 14:45 UTC

  The ‘super-connected’ 1.318 corporations of global economic power

  

  As protestors against financial power sweep the world this week, science may have confirmed the protesters' worst fears. An analysis of the relationships between 43.000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.

• Wednesday, November 16th 2011 - 14:40 UTC

  China, Japan, Canada urge greater action from the EU on the Euro crisis

  

  Non-European policymakers joined US President Barak Obama in urging greater action from the European Union to deal with the two year old crisis, and came as equity markets fell in response to a sell-off in euro zone bond markets.

• Wednesday, November 16th 2011 - 14:36 UTC

  ECB moves in to stop sell-off of EU bonds; Obama calls for stronger political will

  

  The European Central Bank stepped in on Wednesday to stem an accelerating sell-off of Euro zone government bonds, traders said, after the United States called for more decisive action to halt a spreading sovereign debt crisis.

• Wednesday, November 16th 2011 - 05:14 UTC

  Argentine Vice President elect urges Latam countries to use local currencies

  

  Argentine Economy Minister and Vice-President elect Amado Boudou urged Latin American countries to increase the use of local currencies in regional trade instead of depending on other currency such as the dollar.

• Wednesday, November 16th 2011 - 05:11 UTC

  US will “keep reminding” Argentina it must comply with international obligations

  

  The administration of President Barak Obama reaffirmed its decision to “keep reminding” Argentina of the need to comply with its international obligations as well as the importance of upholding an investment climate ‘transparent and fair’ that includes paying creditors, points out a piece from Buenos Aires La Nacion correspondent in Washington.

• Wednesday, November 16th 2011 - 05:05 UTC

  EU Parliament curbs sovereign debt speculation and short selling limitations

  

  The European Parliament on Tuesday voted into law a regulation to curb short selling and trading in credit default swaps (CDS), a financial product for insuring against default.

• Wednesday, November 16th 2011 - 05:01 UTC

  EC sets forward strict rules for credit rating agencies

  

  The European Commission has put forward stricter rules for the credit rating agencies that rank countries' and companies' debt. The rules says agencies, including Standard & Poor's, Moody's and Fitch, should follow stricter standards, be more transparent about their ratings and be held accountable for their mistakes.

• Wednesday, November 16th 2011 - 00:34 UTC

  Argentina tells Uruguay it will not accept surplus Pesos from the summer season

  

  Argentina will not take back the millions of Pesos that thousands of tourists spend in neighbouring Uruguay during the summer season. That was the reply to a request from Uruguay’s largest bank branch in the City of Buenos Aires, according to banking sources in Montevideo.