Economy

• Friday, October 2nd 2009 - 09:13 UTC

  EU emergency meeting to deal with dairy farming crisis and export subsidies

  

  Less than two weeks after the start of a European dairy farmers’ strike, Sweden’s agriculture minister said that he would meet with other European agriculture ministers in Luxembourg on 5 October to discuss the ongoing milk crisis.

• Friday, October 2nd 2009 - 05:12 UTC

  Next round of EU/Mercosur trade association talks in May in Madrid

  

  The European Union and Mercosur have suspended negotiations for an association agreement, basically on trade issues, admitted Geoffrey Barrett head of the European Commission delegation for Uruguay and Paraguay.

• Thursday, October 1st 2009 - 15:58 UTC

  UK leading banks accept international-agreed curbs on bonuses

  

  Britain's five biggest banks have signed up to new internationally-agreed curbs on bonuses, it has been announced. Chancellor Alistair Darling welcomed the decision by the banks to accept the principles agreed last week at the G20 summit in Pittsburgh.

• Thursday, October 1st 2009 - 10:52 UTC

  Wealth of US richest 400 down 330 billion USD

  

  The collective wealth of the richest 400 US citizens has fallen by 300 billion US dollars over the past year, according to the latest Forbes 400 rich list. With downturn in the financial markets and wider economy taking its toll, this is an annual decline of 19%.

• Thursday, October 1st 2009 - 08:07 UTC

  Argentina recovering from the global crisis, says World Bank

  

  Argentina's economy is recovering from the global financial crisis in step with the international community, Augusto de la Torre, chief economist of the World Bank, said during a conference in Miami.

• Thursday, October 1st 2009 - 05:35 UTC

  Argentine Catholic Church says human rights are violated by extreme poverty

  

  Primate Cardinal Jorge Bergoglio blasted the Argentine government saying “the social debt violates all the rights of the citizens to develop a full and active life.” Argentina's leading bishop added that “human rights are not only violated by acts of terrorism, but also by extreme poverty”.

• Thursday, October 1st 2009 - 05:33 UTC

  The crisis is still here: IMF warns loan losses could rise forced by unemployment

  

  The International Monetary Fund lowered its estimate for global write-downs for banks and other financial institutions to roughly 3.4 trillion US dollars but warned that loan losses could rise in the face of stubbornly high unemployment and associated delinquencies.

• Wednesday, September 30th 2009 - 13:31 UTC

  Kirchners “surrendered” to the IMF, says leading Argentine economist

  

  Argentina surrendered to the IMF during the last G20 summit having admitted that the international multilateral organization will be monitoring the country’s economic program during the next fiver years, said economist Jose Luis Espert.

• Wednesday, September 30th 2009 - 07:59 UTC

  Britain’s second quarter performance not as bad as expected

  

  The recession in Britain was not as deep as previously feared between April and June, official figures have confirmed. UK output shrank by 0.6% during the quarter - the second upward revision to official figures since July - the Office for National Statistics (ONS) said.

• Wednesday, September 30th 2009 - 07:20 UTC

  World Bank predicts ten million will fall into poverty in Latinamerica

  

  The World Bank forecasts that about ten million people will join the ranks of the poor in Latin America this year as a result of the global economic slowdown, reversing social gains since 2002.