Economy

• Thursday, June 17th 2010 - 06:04 UTC

  Spanish government struggling to survive amid growing doubts about the economy

  

  The Spanish government Wednesday approved a reform to make the labour market more flexible, amid growing international concern over the stability of the country's economy.

• Thursday, June 17th 2010 - 06:01 UTC

  Brazilian retail sales fall more than expected in April, in spite of World Cup

  

  Brazilian retail sales declined 3% month-on-month in April, with only two of the ten surveyed sales components recording gains, the statistical agency IBGE said Wednesday. Economists were expecting sales to drop at a much slower rate of 1.6%.

• Wednesday, June 16th 2010 - 04:48 UTC

  European leaders criticize risk-rating agencies for downgrading Greek debt

  

  Moody's decision to downgrade Greek debt was ill-advised and ill-timed, European Economic and Monetary Affairs Commissioner Olli Rehn said, adding that it cast fresh doubt on risk-ratings agencies.

• Wednesday, June 16th 2010 - 04:39 UTC

  Buenos Aires has 15.000 ‘reported’ homeless of which 4.500 children

  

  At least 15.000 people live in the streets of Argentina’s capital Buenos Aires where last year 113 died because of the cold or lack of medical assistance, warned a report from a Non Government Organization, Doctors of the World and Project 7.

• Wednesday, June 16th 2010 - 04:30 UTC

  Brazilian meats’ corporation set to become main supplier of McDonald’s

  

  Marfrig Alimentos SA, Latin America’s second-largest beef producer, agreed to buy meat processor US based Keystone Foods LLC for 1.26 billion US dollars to become a supplier to restaurant chains such as McDonald’s Corp.

• Wednesday, June 16th 2010 - 04:28 UTC

  Argentine minister encouraged with Japanese acceptance of bond-swap

  

  A majority of Japanese investors holding defaulted Argentine debt have exchanged it for new bonds and cash as part of an 18.3 billion US dollars swap that expires June 22, Argentina's finance secretary said on Tuesday.

• Wednesday, June 16th 2010 - 04:26 UTC

  Switzerland closer to handing list of suspected US tax-evaders

  

  Switzerland's parliament has voted to approve a deal which would see information on suspected tax-evaders be passed to US authorities. The Lower House of the Swiss parliament backed the agreement 81 to 61 with 53 abstentions, reversing its earlier decision to reject the agreement last week.

• Tuesday, June 15th 2010 - 02:36 UTC

  EU finance ministers agree on tougher regulation for the hedge fund industry

  

  European Union finance ministers have agreed to introduce tougher regulation of the hedge fund industry. Ministers overrode objections by the new UK government and the City of London, where 80% of European funds are based.

• Monday, June 14th 2010 - 23:45 UTC

  Greek debt downgraded to “junk”; IMF, EU audit finances and budget

  

  Greek government bonds have been downgraded four notches to “junk” status from A3 to Ba1 by Moody's credit rating agency. The agency said Monday there was still “considerable uncertainty” surrounding the impact of measures introduced to cut the country's high budget deficit.

• Saturday, June 12th 2010 - 04:51 UTC

  Uruguay targeting a US dollar at 21/22 Pesos to help exporters

  

  Uruguay will take ‘all the necessary measures’ to target the US dollar at 21/22 Pesos, its equilibrium point to help boost exports, according to Deputy Minister of Economy Pedro Buonomo.