Economy

• Tuesday, May 14th 2013 - 18:58 UTC

  Argentine inflation controversy: court vindicates private stats agencies

  

  An Argentine appeals court threw out the fines that Domestic Trade Secretary Guillermo Moreno had slapped on private firms that issued inflation estimates that were much higher than the government’s official rate.

• Tuesday, May 14th 2013 - 18:32 UTC

  Monsanto wins leading soybean seed replicating case to the relief of biotechnology industry

  

  In a decision that drew sighs of relief from the biotechnology industry, the US Supreme Court ruled that an Indiana farmer violated agribusiness company Monsanto Co’s patent for a type of soybean. The court agreed unanimously with Monsanto that Vernon Bowman, 75, had performed an end-run around the law when he used the company’s patented soybean seeds without seeking a licence.

• Tuesday, May 14th 2013 - 06:49 UTC

  Whitewashing draft bill and Moreno have US ‘blue’ dollar market in Argentina flat

  

  Trading of the ‘blue’ or parallel dollar in Argentina remained flat on Monday for a second day following last week’s events when the 10 Pesos barrier was broken and the government reacted with a tax amnesty or whitewashing draft bill promising all dollar assets holders a new clean record and no questions asked if they turn their greenbacks into government bonds or promissory notes.

• Tuesday, May 14th 2013 - 06:40 UTC

  A British-American tax and trade agenda

  

  By PM David Cameron - The Wall Street Journal - Britain and America have a proud history of working together to meet the great challenges of the day. Ours is a partnership without parallel, rooted in our values of freedom and enterprise—advancing not just Britain’s and America’s interests but the good of people around the world.

• Tuesday, May 14th 2013 - 06:36 UTC

  Petrobras completes record bond offering and collects 11 billion dollars

  

  Brazil’s state-controlled oil firm Petrobras sold 11 billion dollars of global debt on Monday in the largest-ever bond offering by a Latin American company. The deal was split in six tranches comprised of fixed- and floating-rate debt with maturities ranging from three to 30 years, according to a report from Thomson Reuters.

• Tuesday, May 14th 2013 - 06:26 UTC

  Watch out for the new dollars bills: Treasury bans loopy signatures

  

  US Treasury Secretary Jack Lew, who was mocked for his loopy signature, has offered a more legible version. His new sign-off, on a recent Treasury report, showed an attempt to lay out the letters more clearly.

• Tuesday, May 14th 2013 - 06:13 UTC

  Tougher regulations and responsibilities for credit rating agencies in Europe

  

  Credit rating agencies (CRA) such as Moody’s, Fitch or Standard & Poor’s will have to work under more strict regulations in the European Union where they could face claims if investors suffer a loss due to an infringement committed by the agency intentionally or with gross negligence, according to a European Council directive approved on Monday.

• Tuesday, May 14th 2013 - 05:43 UTC

  FAO suggests farming and feeding on insects can address global food insecurity

  

  While insects can be slimy, cringe-inducing creatures, often squashed on sight by humans, a new book released by the Food and Agricultural Organization (FAO) says beetles, wasps and caterpillars are also an unexplored nutrition source that can help address global food insecurity.

• Monday, May 13th 2013 - 22:34 UTC

  China to the rescue of Argentina with a 10 billion dollars equivalent swap

  

  Argentina is negotiating with China a new 10 billon dollars equivalent swap of international reserves support based on the experience of 2009 when the global financial crisis. The new accord should theoretically help Argentina strengthen its international position vis-à-vis the run on the dollar (or the flight from the Peso) and which has cost the Central bank 4 billion dollars so far this year.

• Monday, May 13th 2013 - 04:30 UTC

  Positive reaction in Japanese markets to G7 ‘silent’ endorsement of Yen policy

  

  Tokyo stocks opened 1.02% higher on Monday as the Yen's fall accelerated after Japan avoided open criticism about its forex policy at the weekend meeting of Group of Seven financial chiefs. The benchmark Nikkei 225 index shot up 149.05 points to 14,756.59 at the start of trade.