Economy

• Tuesday, November 13th 2012 - 03:58 UTC

  Spanish banks suspend evictions for next two years for the most vulnerable

  

  Spanish banks are suspending evictions for the next two years for the most vulnerable people. An estimated 350,000 families have been evicted from their homes since Spain's property market crashed in 2008.

• Tuesday, November 13th 2012 - 00:56 UTC

  US to overtake Saudis and Russia as world’s top oil producers by 2’17, says IEA

  

  The United States is forecasted to overtake Saudi Arabia and Russia as the world's top oil producer by 2017, the West's energy agency said on Monday. The International Energy Agency (IEA) said it saw a continued fall in US oil imports with North America becoming a net oil exporter by around 2030 and the United States becoming almost self-sufficient in energy by 2035.

• Monday, November 12th 2012 - 05:46 UTC

  Multi-billion mining project in the Andes further delayed environment regulations

  

  Barrick Gold Corp, the world’s biggest gold producer, said on Saturday it had halted earth-moving works at its Pascua Lama mine on the Argentina-Chile border following concerns about the health of workers at the site high in the Andes.

• Monday, November 12th 2012 - 05:29 UTC

  China’s and the world largest bank takes control of Argentine institution

  

  Argentina has given approval for the Industrial and Commercial Bank of China to take control of the local operations of South Africa's Standard Bank following a 600 million dollars deal last year, the Chinese lender said on Sunday.

• Saturday, November 10th 2012 - 05:32 UTC

  Judge Griesa warns Argentina on defying paying holdout bondholders

  

  US District Judge Thomas Griesa told Argentina it should not even consider evading a recent ruling requiring it to pay bondholders who did not participate in two major debt restructurings after the country's 2002 default.

• Saturday, November 10th 2012 - 05:08 UTC

  Next week takes off the ‘fiscal cliff’’ battle with meeting in White House of party leaders

  

  Newly re-elected President Barack Obama said on Friday the wealthy must pay more taxes under any political deal to avert a looming budget crisis. He said Congress must act against the so-called fiscal cliff, a package of tax rises and spending cuts due early next year.

• Saturday, November 10th 2012 - 04:46 UTC

  Major group plans cash-tender offer for low cost airline Barcelona-based Vueling

  

  International Airlines Group has reaffirmed that it would keep Vueling as a stand-alone entity within the group if it completes its plan to acquire the outstanding shares in the Barcelona-based low-cost carrier.

• Saturday, November 10th 2012 - 04:40 UTC

  Iberia survival plan: slash quarter of jobs, cut 15% network and downsize fleet

  

  Loss-making Iberia on Friday announced plans to axe 4.500 jobs to save Spain's biggest airline from collapse and warned more cuts could follow against the backdrop of economic crisis in the Euro zone country.

• Saturday, November 10th 2012 - 02:35 UTC

  China forecasted to become world’s largest economy, ahead of the US in 2016

  

  China is projected to overtake the US to become the world's largest economy as early as 2016, according to a report by the Organization for Economic Co-operation and Development (OECD) released on Friday.

• Friday, November 9th 2012 - 06:30 UTC

  Draghi confirms economic activity in Euro is “expected to remains weak”

  

  The European Central Bank (ECB) has held the benchmark Euro zone interest rate at the record low of 0.75%, as had been expected. The rate has been at this level for four months, after July's cut from 1%.