Economy

Thursday, November 17th 2011 - 07:04 UTC
Top banker forecasts ‘dollar run’ in Argentina will dissolve: plenty of reserves

The former head of the Argentine Central Bank, Mario Blejer assured on Wednesday that in the exchange market “tension has been created which will only start to dissolve as and when we minimize the analysis of the subject.”
Thursday, November 17th 2011 - 06:56 UTC
Moody’s downgrades Brazilian meat corporation Marfrig from stable to negative

Credit ratings agency Moody's changed its outlook for Brazilian meat processor Marfrig from stable to negative, citing what it feels is a deterioration in Marfrig's credit viability due to strong competition in the Brazilian protein sector in recent months, higher commodity prices, a global economic slowdown and currency volatility.
Thursday, November 17th 2011 - 06:52 UTC
US debt soars past 15tn while another political storm is brewing in Congress

The US government's debt load topped the 15 trillion dollars mark Wednesday, as politicians in Congress continued to battle over how to cut spending. Treasury figures showed the burden of federal borrowing reached 15,033,607,255,920.32, up 55.8 billion from Tuesday.
Thursday, November 17th 2011 - 03:45 UTC
Euro crisis had heads rolling in the IMF; European Department chief removed

The head of the International Monetary Fund's European department quit less than a year into the job and was replaced by a veteran staffer as the European debt crisis worsens.
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.