Economy

• Monday, September 26th 2011 - 04:43 UTC

  Argentine inflation controversy reaches the courts: Judge subpoenaed reporters

  

  An Argentine Judge has subpoenaed six newspapers for the names and phone numbers of all reporters and editors who have covered Argentina's economy the past five years, so they can be called as witnesses against their sources.

• Monday, September 26th 2011 - 03:58 UTC

  Huge blackout exposes vulnerability of world’s main copper supplier energy grid

  

  A massive power blackout on Saturday paralyzed crucial copper mines in Chile and darkened vast swaths of the country including the capital Santiago before energy started to be restored, officials said.

• Monday, September 26th 2011 - 03:27 UTC

  Latin America situation ‘solid’ but not ‘immune’; watch the fiscal front, says IMF

  

  The head of the IMF for the Western Hemisphere Department Nicolás Eyzaguirre discards an outflow of capitals from Latin America as a consequence of the current global situation and pointed out that the region’s position is solid.

• Saturday, September 24th 2011 - 22:13 UTC

  Geithner calls on the Euro zone for a ‘firewall’ against the crisis spreading

  

  US Treasury Secretary Timothy Geithner has called on European leaders to take urgent new steps to create a 'firewall' against the crisis spreading. He added that decisions on how to tackle Euro zone debt could not wait “until the crisis gets more severe”.

• Saturday, September 24th 2011 - 22:11 UTC

  US regulators close more banks with failures so far this year totalling 73

  

  United States regulators on Friday closed banks in Virginia and California, lifting to 73 the number of US bank failures this year. The number of closures has dropped significantly this year as banks have worked their way through the bad debt accumulated in the recession. By this time last year, regulators had shuttered 127 banks.

• Saturday, September 24th 2011 - 21:45 UTC

  Major purge in UBS; main shareholder Singapore fund demands tighter controls

  

  Swiss bank UBS's Chief Executive Oswald Gruebel resigned, shouldering the blame after its scandal-hit investment banking business lost 2.3 billion dollars in alleged rogue trading.

• Friday, September 23rd 2011 - 23:40 UTC

  Argentina’ industrial output growth slowed down in August, says Indec

  

  Argentina's industrial output growth slowed in August to 5.2% year-on-year, while month-on-month economic activity contracted in July for the first time in 13 months, the government said on Friday.

• Friday, September 23rd 2011 - 23:12 UTC

  European banks have already received 420 billion Euros, reveals EC

  

  “The recapitalization of European banks is something that is ongoing, it is something that is already happening,” Commission spokesman Olivier Bailly told a regular briefing.

• Friday, September 23rd 2011 - 22:29 UTC

  Greece’s ‘orderly default’ with 50% haircut for bondholders round the corner

  

  Greek Finance Minister Evangelos Venizelos was quoted by two newspapers as saying an orderly default with a 50% haircut for bondholders was one of three possible scenarios for resolving the heavily indebted euro zone nation's fiscal woes.

• Friday, September 23rd 2011 - 21:52 UTC

  Brazilian aircraft and radars to combat drug trafficking in Central America

  

  Guatemala will purchase six Brazilian military aircraft Super Tucano, radars and other equipment to combat the narcotics trade traffic of which the Central American country is considered a crucial link between South America and the United States.