Economy

Tuesday, June 28th 2011 - 18:08 UTC
Brazilian boom full of ambition and consumers, but also has a downside

House prices in some parts of Rio are up nearly 80% in the past year,” says Ronaldo Coelho Netto, an estate agent in Rio de Janeiro, looking up at a new development near the city centre.
Tuesday, June 28th 2011 - 06:12 UTC
Mercosur summit begins Tuesday among controversy over its effectiveness

The Mercosur summit will be an opportunity to solve asymmetry problems and social inequalities in the region, said Paraguay’ Foreign Affairs minister Jorge Lara Castro. The South American customs union is meeting this week in Asuncion for the first of two annual summits when the rotating chair will be passed on to Uruguay.
Tuesday, June 28th 2011 - 06:07 UTC
French banks agree to roll over holdings of Greek debt for 30 years

French banks have agreed to roll over holdings of Greek debt for 30 years, President Nicolas Sarkozy said on Monday, as the Greek government tries to persuade backbench rebels to back a crucial austerity plan to avert bankruptcy.
Tuesday, June 28th 2011 - 06:01 UTC
Avoid raw sprouts and seeds to prevent outbreak of E. coli, say Dutch and UK health officials

Dutch and British health officials advised people to avoid raw sprouts and seeds after scientists linked an outbreak of E. coli in France to a highly toxic one in Germany that has killed 47 people.
Tuesday, June 28th 2011 - 04:28 UTC
Almost 40 million Brazilians climbed to middle class in the last eight years

An estimated 39.5 million Brazilians climbed to the middle class between 2003 and May 2011 according to a report from the Getulio Vargas Foundation, FGV, released Monday and which underlined inclusion and inequality reduction as the main forces.
Monday, June 27th 2011 - 18:48 UTC
Federal Reserve will remain biggest buyer of US Treasury bills

The Federal Reserve will remain the biggest buyer of Treasuries, even after the second round of quantitative easing ends this week, as the central bank uses its 2.86 trillion US dollars balance sheet to keep interest rates low.
Monday, June 27th 2011 - 16:48 UTC
US consumer spending flat in May reflecting a fall in auto sales

Consumer spending in the United States was unchanged in May for the first time in almost a year, likely reflecting a plunge in auto sales, according to a US government report, that also showed a build-up in underlying inflation pressures.
Monday, June 27th 2011 - 15:34 UTC
FAO elected-chief anticipates high and volatile food prices for several years

The newly elected chief of the United Nations food agency, FAO, anticipated on Monday high and volatile food prices will persist for several years. Brazil's Jose Graziano da Silva was elected on Sunday to replace Senegal's Jacques Diouf.
Monday, June 27th 2011 - 15:21 UTC
Reports of puma attacks on sheep multiplying in Chile

Desperate and decimating. That’s how biologist Agustín Iriarte describes the attitude of livestock farmers and their dwindling number of livestock, as predators take their toll. Chile’s pumas are attacking and killing sheep flocks more than ever.
Monday, June 27th 2011 - 15:09 UTC
Chinese local governments have piled a debt equivalent to 1.4 trillion USD

Fresh evidence shows that Chinese local governments commit the same sins as their counterparts in South America and even Spain, where most provinces, states and regional autonomies traditionally pile billions of dollars in debt that following some political arrangement are finally bailed out by the central government.