Economy

Wednesday, August 15th 2012 - 23:40 UTC
World Health Organization praises Australia’s high court ruling on cigarette packaging

The World Health Organization (WHO) said on Wednesday it strongly welcomes the landmark decision from Australia’s High Court to dismiss a legal challenge from the tobacco industry, and calls on the rest of the world to follow Australia’s tough stance on tobacco marketing.
Wednesday, August 15th 2012 - 08:57 UTC
Standard Chartered reaches agreement with US regulators, pays 340m fine

Standard Chartered has agreed a 340 million dollars settlement with New York regulators that accused it of hiding 250bn of transactions with Iran. The hearing that had been scheduled for Wednesday has now been adjourned.
Wednesday, August 15th 2012 - 08:46 UTC
Brazilian state plans cattle traceability system with ear-tags and chips

The Government of the Brazilian state of Rio Grande do Sul is planning to invest about 25 million dollars in restructuring animal health protection in the state and electronically identifying every beast in its 13 million cattle herd, in a project designed to provide a full traceability system.
Wednesday, August 15th 2012 - 00:50 UTC
Euro zone contracts 0.2% in Q2; Germany remains strong but exposed to contagion

The Euro zone debt-ravaged economy shrank in the second quarter (after a dismal first) and despite continued German growth which economists said could soon be snuffed out.
Tuesday, August 14th 2012 - 23:51 UTC
Sunflower seed production down in Europe because of lack of rainfall

Sunflower seed production in the European Union, Ukraine and Russia will drop 11.7% to a total of 24.82 million tons this year, from 28.12 million tons a year ago, Hamburg-based oilseed analyst Oil World said on Tuesday.
Tuesday, August 14th 2012 - 23:38 UTC
Mercosur farmers plan to sow record soybean area; stocks drop to half from a year ago

Mercosur farmers in Brazil and Argentina are forecast to plant more soybeans for harvesting this season in response to higher prices, at the expense of wheat and corn sowing, according to Oil World. Paraguay and Uruguay Agriculture ministries have also anticipated an increase in the soybeans planted areas.
Tuesday, August 14th 2012 - 22:10 UTC
US, France and Mexico considering G20 emergency meeting to address soaring grain prices

US, France and Mexico are planning talks to consider whether an emergency meeting is needed to tackle the soaring price of grain. The three will hold a conference call at the end of this month after the worst US drought in 50 years threatens to cause a sharp rise in the cost of staple crops.
Tuesday, August 14th 2012 - 22:01 UTC
Standard Chartered CEO in US to discuss money laundering allegations

Standard Chartered chief executive is in New York to negotiate directly with the US regulator that accused it of “scheming” to hide 250bn dollars of transactions with Iran. The regulator will hold a hearing on Wednesday to decide whether to revoke the bank's New York banking licence. It is unclear yet whether Peter Sands will attend the hearing.
Tuesday, August 14th 2012 - 07:31 UTC
Obama announces 170m dollars emergency support for scorched farms

President Barack Obama announced an emergency purchase of up to 170 million dollars of meat and fish on Monday on a campaign trip to drought-hit Iowa, and accused Republican vice presidential candidate Paul Ryan of blocking disaster aid to farmers.
Monday, August 13th 2012 - 16:14 UTC
Germany prepared to veto aid and exit Greece from the Euro

A senior member of Chancellor Angela Merkel's party issued a stark warning to Greece, saying Germany would not hesitate to veto further aid to the country if there were any signs it was not meeting the conditions of its bailout.