Economy

• Thursday, September 8th 2011 - 05:58 UTC

  Italy and Spain pass austerity measures to control budgets and debts

  

  Italy and Spain have passed new austerity measures as they battle to control their debts. Italy's upper house of parliament approved an austerity package which should cut its deficit by some 54 billion Euros over three years.

• Thursday, September 8th 2011 - 05:43 UTC

  Argentine prepared to let the Peso and central bank reserves slide

  

  Argentina's international reserves have been declining for weeks as the central bank tries to stem the peso's slide against the US dollar, but policymakers have signaled that they intend to keep dipping into reserves to prevent an even swifter depreciation.

• Thursday, September 8th 2011 - 02:48 UTC

  Soros predicts Euro crisis could be worse than Lehman Brothers

  

  Billionaire George Soros believes that the current crisis of the Euro zone has the ‘potential to be a lot worse than the Lehman Brothers’ in the US due to the lack of consensus in the European Union to create an authority with enough power to handle this problem.

• Thursday, September 8th 2011 - 01:16 UTC

  Chile, Colombia, Peru equity markets integration on track is spite of crises

  

  The difficult international situation has not affected the equity markets integration process of Colombia, Chile and Peru, said the president of Colombia’s Stock Exchange, Juan Pablo Córdoba.

• Thursday, September 8th 2011 - 00:12 UTC

  Review on US economy for Fed’s next meeting shows slow growth, weak activity

  

  The US economy continues to grow slowly, with patches of weaker activity, the Federal Reserve said Wednesday in a report used by the central bank in setting monetary policy.

• Wednesday, September 7th 2011 - 11:29 UTC

  Obama job-creating speech will announce a 300 billion dollars plan, says US media

  

  US President Barack Obama will unveil a 300 billion dollars package to create new jobs in an address to Congress on Thursday, US media reports citing Democratic sources.

• Wednesday, September 7th 2011 - 11:21 UTC

  Iran becomes Brazil’s biggest buyer of beef eclipsing Russia

  

  Iran has eclipsed Russia to become the biggest buyer of beef from Brazil, the world’s top exporter of the meat, strengthening the countries’ controversial ties.

• Wednesday, September 7th 2011 - 11:16 UTC

  Latin American markets react positively on growing confidence in the region

  

  Latin American markets edged up on Tuesday, albeit uneasily, after data showed the US services sector unexpectedly picked up steam in August and growing confidence that the region is prepared to withstand global turbulence.

• Wednesday, September 7th 2011 - 11:05 UTC

  Brazil to implement anti-dumping duties retroactively on Chinese steel tubes

  

  Brazil decided to implement anti- dumping duties retroactively to prevent companies from stocking up on imported goods the government says pose a threat to local industry.

• Wednesday, September 7th 2011 - 10:43 UTC

  US and European shares continue to slide waiting for strong political decisions

  

  US and European shares have both fallen as concerns continue about the high level of Euro zone debt, as well as the risk of a return to recession on both sides of the Atlantic.