Economy

• Wednesday, September 5th 2012 - 00:52 UTC

  Brazilian industrial production up 0.3% in July, but still unconvincing

  

  Brazilian industrial production rose a stronger-than-expected 0.3% in July from June, government statistics agency IBGE said on Tuesday. July was the second positive number following three straight months of declining output.

• Wednesday, September 5th 2012 - 00:40 UTC

  Moody’s lowers EU outlook to ‘negative’: fears big countries will prioritize their own debts

  

  Moody's has lowered its outlook for the European Union's AAA credit rating to “negative” and warned that the bloc's rating could be downgraded. The move reflected the negative outlook for the ratings of the EU key budget contributors.

• Wednesday, September 5th 2012 - 00:14 UTC

  EC regrets stances of “protectionism” and “populism” in some Mercosur members

  

  The president of the European Commission Jose Durao Barroso said on Tuesday that the EU 27 members still want to reach a free trade agreement with Mercosur, but warned that the “protectionist stances” from some of its members makes it difficult.

• Wednesday, September 5th 2012 - 00:05 UTC

  Argentina files third trade complaint challenging US laws that block fresh lemons

  

  Argentina has filed its third trade complaint in two weeks, the World Trade Organization said on Monday, challenging US laws that it says have blocked imports of fresh lemons from north-west Argentina.

• Tuesday, September 4th 2012 - 18:26 UTC

  Argentine industry asks for flexible imports but strongly supports government policies

  

  Argentina’s Industrial Union, UIA, called on the government of President Cristina Fernandez to ease the imports of inputs for manufacturing, which is suffering from shortages caused by severe controls, although at the same time was supportive of official policies to boost industry.

• Tuesday, September 4th 2012 - 07:11 UTC

  Strong Peso and imports’ controls vital for reindustrialization of Argentina

  

  President Cristina Fernández blasted those sectors that demand a cheaper Peso (and stronger US dollar) and defended the exchange rate and imports' controls saying they are “vital” for the industrialization process of Argentina.

• Tuesday, September 4th 2012 - 06:26 UTC

  Mercosur faces “great problems and internal divisions” making talks with EU “difficult”

  

  French Foreign Trade minister Nicole Bricq said that there are “great problems” in the current negotiations between the EU and Mercosur to reach an association agreement which also includes a free trade chapter.

• Tuesday, September 4th 2012 - 01:25 UTC

  Germany stands firm: ECB is not prepared to supervise all Euro zone banks

  

  German Finance Minister Wolfgang Schaeuble rejected on Monday a European Commission plan to give the European Central Bank sweeping powers to monitor all Euro zone banks, saying it should instead focus only on systemically important institutions.

• Tuesday, September 4th 2012 - 01:17 UTC

  Since 2003 an estimated 261bn dollars have fled from Greece, says NGO

  

  Greek nationals have deposited overseas an estimate 261 billion dollars from illegal activities, from tax evasion and elusion to criminal actions or simple from rampant corruption, according to economist and head of the Non Government Organization, Global Financial Integrity, Raymond Baker.

• Tuesday, September 4th 2012 - 00:31 UTC

  Poll shows Germans want Greece out of the Euro; doubts about reforms’ implementation

  

  Only about a quarter of ordinary Germans are in favor of debt-stricken Greece remaining in the Euro area, a poll published by the Financial Times on Monday indicated. It revealed strong reluctance to grant Greece yet another bailout installment.