Economy

• Thursday, July 15th 2010 - 06:23 UTC

  Recession-hit Britons cut back on overseas travel in 2009

  

  Recession-hit Britons cut back on overseas travel last year, with business trips down by almost a quarter, the UK Office for National Statistics announced this week.

• Thursday, July 15th 2010 - 06:19 UTC

  US May trade deficit, the highest in last 18 months

  

  US trade deficit widened to its highest level in 18 months in May, driven by demand for imported cars, computers and clothing. The deficit increased by 4.8% to 42.3 billion US dollars, the largest since November 2008, Commerce Department data showed.

• Thursday, July 15th 2010 - 06:05 UTC

  Venezuela oil reserves could double Saudi Arabia, says US assessment

  

  A new US assessment of Venezuela's oil reserves could give the country double the supplies of Saudi Arabia. Scientists working for the US Geological Survey say Venezuela's Orinoco belt region holds twice as much as previously thought.

• Thursday, July 15th 2010 - 05:54 UTC

  One of Brazil’s leading newspapers abandons print and opts for internet

  

  The Brazilian daily Jornal do Brasil will discontinue its print edition and publish exclusively on the Internet starting September first, the owner of the 119-year-old newspaper said Wednesday.

• Tuesday, July 13th 2010 - 06:44 UTC

  Mrs. Kirchner praises China and calls for new world financial system

  

  Argentine President Cristina Kirchner called on Monday for an international system of financial regulation ahead of the G20's next meeting in Seoul.

• Tuesday, July 13th 2010 - 06:37 UTC

  Petrobras first tests in the Franco sub-salt field confirm 50.000 bpd

  

  Brazil’s oil regulator ANP said it concluded its first test at the Franco offshore field, which holds the oil reserves that the government may sell state-controlled Petroleo Brasileiro SA, Petrobras, in exchange for new stock.

• Tuesday, July 13th 2010 - 06:27 UTC

  Colombian sales to Venezuela plummet 70%, but record year for overall exports

  

  Colombian exports to Venezuela totalled 652 million US dollars between January and May 2010, showing a 71.4% fall compared with the first five months of 2009, reports Colombia's Department of Statistics (DANE).

• Tuesday, July 13th 2010 - 06:21 UTC

  Brazil’s automobile production in first half soars 19.1% over a year ago

  

  Brazil’s automobile production increased 19.1% in the first half of the year compared to the same period a year ago and exports soared 62.3% according to the Brazilian automakers association Anfavea.

• Tuesday, July 13th 2010 - 00:56 UTC

  FAO says “some regulation• of commodities future markets is “desirable”

  

  Some regulation of commodities futures markets is desirable, according to FAO, but any intervention should be cautious and stop short of imposing tight limits or an outright ban on such trading

• Tuesday, July 13th 2010 - 00:47 UTC

  For the first time since 2002 Fitch raises Argentina’s credit ratings out of default

  

  Fitch Ratings on Monday raised Argentina's credit ratings out of default, following the completion of a debt swap last month, but said the deal is not enough to open new financing sources for the country.