Economy

Friday, September 12th 2008 - 21:00 UTC
Countdown for Lehman Brothers and little of Blucher on sight

Executives at United States investment bank Lehman Brothers are racing to meet a deadline of Sunday night to find a new owner for the troubled bank, the BBC has learned.
Friday, September 12th 2008 - 21:00 UTC
Debt strapped Spanish builder wants out from Repsol-YPF

The impact of Spain's housing market crash has a new chapter: construction company Sacyr Vallehermoso SA is considering selling its 20% stake in oil major Repsol-YPF, as it struggles with a sinking property market and soaring financial costs, according to an announcement released Friday by Spain's Markets Commission, CNMV.
Thursday, September 11th 2008 - 21:00 UTC
Record 2007/08 harvest in Brazil, 143.8 million tons

Brazil confirmed that the 2007/08 was the greatest grain and oilseed crop ever, 143.8 million tons. The Ministry of Agriculture said it was 9.2% above the previous season and could further increase when the final volumes of the northeast second corn harvest are completed.
Thursday, September 11th 2008 - 21:00 UTC
JP Morgan: Uruguay “exposed” to Argentine slowdown

US investment bank JP Morgan said the expected deceleration in Argentina will have an impact for the performance of neighboring Uruguay's economy, according to reports published in the Montevideo press.
Thursday, September 11th 2008 - 21:00 UTC
Brazil raises basic rate to 13.75%, highest in two years

The Brazilian Monetary Policy Committee (Copom) of the Central Bank (BC) raised the base interest rate (Selic) by 0.75 percentage point, from 13% to 13.75% a year. This is the fourth consecutive hike in Selic and the highest is almost two years.
Thursday, September 11th 2008 - 21:00 UTC
EC forecasts recession ahead for UK, Spain and Germany

United Kingdom is forecasted to fall into recession by the end of the year alongside Spain and Germany after a “sharper than expected” slowdown, the European Commission has predicted.
Thursday, September 11th 2008 - 21:00 UTC
UN underlines bumper crops and potential of Russia and Ukraine

A senior United Nations food agency official on Thursday predicted a bumper harvest of cereal crops in Russia and Ukraine for this year and said the region possesses significant untapped agricultural potential.
Thursday, September 11th 2008 - 21:00 UTC
Record crude prices swell US trade deficit in July

Rising oil prices swelled the United States trade deficit in July to its widest level since March 2007, according to the latest government figures. The trade deficit widened to 62.2 billion US dollars from an upwardly revised estimate of 58.84 billion in June.
Thursday, September 11th 2008 - 21:00 UTC
Helicopter sales soar with mining industry in Chile

Helicopter sales in Chile are going up, up, up. Due to the dramatic growth of the mining and energy sectors, the country has tripled its sales of the aircrafts in the past three years. In 2005, the main provider of helicopters in the country sold only six units, while this year they have already sold 22.
Thursday, September 11th 2008 - 21:00 UTC
Uruguay enjoys solid situation, boasts Minister Astori

Uruguayan Economy minister Danilo Astori who next week steps down to return to his Senate bench and hopefully to become the presidential candidate for the ruling coalition, said that a balanced budget “has no political color be it left or right” and anticipated that this will be a record growth year for the economy.