Economy

• Tuesday, September 6th 2011 - 22:15 UTC

  Brazilian car industry scaling down production as inventories rise

  

  Metalworkers at a General Motors factory in Brazil decided to go on strike on Tuesday to demand a 17.45% wage increase just as the industry is scaling back production amid rising inventories.

• Tuesday, September 6th 2011 - 20:15 UTC

  US banks offered deals over improper-mortgage practices, says FT

  

  Big US banks in talks with state prosecutors to settle claims of improper mortgage practices have been offered a deal that may limit their legal liabilities in return for a multibillion-dollar payment, the Financial Times reported Tuesday.

• Tuesday, September 6th 2011 - 20:08 UTC

  Swiss central bank puts a cap to the Franc to combat massive overvaluation

  

  The Swiss central bank announced Tuesday a ceiling on the currency by setting an exchange rate minimum against the Euro. The Swiss National Bank (SNB) boldest move states that the exchange rate between the Swiss franc and the Euro must not drop below 1.20 Euros. And if it does, the Swiss bank is prepared to enforce the minimum by selling francs and buying up euros “in unlimited quantities.”

• Tuesday, September 6th 2011 - 06:31 UTC

  A China/Mercosur trade agreement would be “something extraordinary”

  

  A free trade agreement, (FTA), between China and Mercosur could be “something extraordinary”, said Argentine Foreign Affairs minister Hector Timerman who next Thursday begins a political and business mission in Beijing.

• Tuesday, September 6th 2011 - 06:17 UTC

  Another record month for car production and sales in Argentina

  

  Argentine car makers set a new record for production in August, cranking out 84,655 vehicles amid brisk economic growth, an ongoing consumption boom and soaring exports to Brazil.

• Tuesday, September 6th 2011 - 03:05 UTC

  Argentina’s future closely knit as supplier to China’s growing middle class

  

  The growing Chinese middle class which could reach 500 million people by 2025 will be the great locomotive for commodities demand in the coming decades benefiting countries such as Argentina according to an Asian affairs and trade expert.

• Tuesday, September 6th 2011 - 00:36 UTC

  Central Bank urges EU members to press ahead with financial reforms

  

  The current and incoming head of the European Central Bank demanded that European governments quickly implement a strengthening of a regional bailout fund and press ahead with wider reforms.

• Monday, September 5th 2011 - 05:53 UTC

  Doubts Italy’s divided government can pass measures to cut budget and debt

  

  ECB President Jean-Claude Trichet kept up warnings over Italy's strained public finances telling the struggling centre-right government it must act quickly to reassure nervous markets.

• Monday, September 5th 2011 - 01:57 UTC

  In the US eight out of ten think the economy is in recession, shows CNN poll

  

  More than eight in 10 US residents think the economy is in another recession, according to a new CNN/ORC poll. One-third of those surveyed think it’s serious.

• Monday, September 5th 2011 - 01:18 UTC

  The big questions China still has to answer according to World Bank chief Zoellick

  

  The world’s economic leaders need to “rebalance” their thinking as well as their economies. Fiscal and monetary policies have dominated. That makes sense to a degree: decisions on deficits, debt and the Euro zone this autumn may well determine whether the global economy slides deeper into danger, or begins the long climb back.