Economy

• Thursday, June 24th 2010 - 02:27 UTC

  Soros warns that Germany’s policies threaten the Euro and European Union

  

  Germany's budget savings policy risks destroying the European project and a collapse of the Euro cannot be ruled out, billionaire investor George Soros said in a newspaper interview.

• Thursday, June 24th 2010 - 02:08 UTC

  Mercosur “too small” for Brazil, claims Sao Paulo federation of industries

  

  One of Brazil’s most influential lobbies, the Sao Paulo Federation of Industries, FIESP, claims that Mercosur is an economic space “too small” given the development and “growing international presence of Brazil”.

• Wednesday, June 23rd 2010 - 04:09 UTC

  UK, France and Germany slap coordinated levy on banks

  

  Banks operating in the UK will be hit with a levy in a move set to raise more than £8bn over four years, the chancellor has announced -The levy is part of a joint move between the UK, France and Germany.

• Wednesday, June 23rd 2010 - 03:55 UTC

  Argentina’s debt-swap acceptance expected to reach 70%

  

  The latest available information on the Argentine debt-swap reported a higher acceptance rate than was anticipated by market analysts reaching 68.3%, which is above the self imposed 60% floor by Argentine authorities. The news was released by Buenos Aires financial daily Ambito Financiero.

• Wednesday, June 23rd 2010 - 03:52 UTC

  Spanish Socialists approve labour reforms; conservatives abstain

  

  Spanish lawmakers Tuesday gave preliminary approval to labour reforms considered essential for slashing the soaring jobless rate, reviving the fragile economy and sending a strong message to nervous markets.

• Wednesday, June 23rd 2010 - 03:13 UTC

  General Motors South America is born to cater rising demand in the region

  

  General Motors is setting up a new regional organization in response to rising demand in South America. The new unit, GM South America, will be headquartered in Sao Paulo, Brazil.

• Tuesday, June 22nd 2010 - 05:05 UTC

  Brazil reacts cautiously to the Yuan “greater flexibility” policy

  

  Brazil's Central Bank welcomed China's move to boost flexibility of the Yuan exchange rate, saying the decision showed China's willingness to help the global economy.

• Tuesday, June 22nd 2010 - 04:54 UTC

  G20 leaders (mainly US and Europe) seem divided stimuli timing withdrawal

  

  President Barack Obama has warned against cutting national debts too quickly as it would put economic recovery at risk. In a letter to G20 leaders, the US president said that while it was important to put in place “credible plans” to cut deficits, withdrawing economic stimulus early was dangerous.

• Tuesday, June 22nd 2010 - 04:52 UTC

  Risk rating agency says low risk of a Euro zone breakup; praises Stabilization Mechanism

  

  Although the sovereign debt crisis has revealed weaknesses in several European Union countries, the risk of a Euro zone breakup is low over the shorter term, Fitch Ratings said on Monday.

• Saturday, June 19th 2010 - 02:11 UTC

  BRIC emerging economies will enjoy agriculture boom, says UN-OECD report

  

  The emerging economies of Brazil, India, China and Russia (BRIC) will enjoy an agricultural boom over the next decade as production stalls in Western Europe, a report says.