Economy

• Tuesday, July 10th 2012 - 21:07 UTC

  Argentina reports the US and Japan before the WTO for restrictions on beef and lemons

  

  Argentina announced it has formally reported the United States and Japan before the World Trade Organization for the constant barriers set to Argentina’s meat and lemon exports to the afore mentioned countries.

• Tuesday, July 10th 2012 - 21:02 UTC

  The 34-country OECD has 48 million jobless with little hopes until 2014

  

  Unemployment in advanced economies will remain high until at least the end of 2013, with young people and the low-skilled bearing the brunt of what is by far the weakest economic recovery in the past four decades, the OECD said today.

• Tuesday, July 10th 2012 - 05:21 UTC

  Spain applies further budget savings and is granted another year to reach targets

  

  Euro-zone ministers agreed early on Tuesday to grant Spain an extra year until 2014 to reach its deficit reduction targets in exchange for further budget savings and set the parameters of an aid package for Madrid's ailing banks.

• Tuesday, July 10th 2012 - 05:19 UTC

  “Activity level has dropped” says Argentine industrial union chief

  

  The head of the Argentine Industrial Union, José Ignacio de Mendiguren, admitted that “it's clear that the activity level has dropped,” and warned that “the construction-related sectors delay the new projects.”

• Tuesday, July 10th 2012 - 05:15 UTC

  Pork for apples opens the way to normalize frozen Argentine/Brazilian trade

  

  After two months of waiting, Brazil authorized the entry of apples from Argentina’s Alto Valle of Rio Negro and Neuquen. The news, which brings relief to local exporters, came after Argentina reopened its market to pork from Brazil.

• Monday, July 9th 2012 - 21:07 UTC

  Paraguayan industry lobby says forget Mercosur, calls for talks with Pacific Alliance

  

  The president of the Paraguayan Industrial Union Eduardo Filippo said it was essential for the country to establish negotiations outside Mercosur, following the suspension from the group by the remaining three members allegedly because of the rupture of the democratic order.

• Monday, July 9th 2012 - 19:59 UTC

  Morgan Stanley cuts Argentina’s growth estimates and forecasts 2013 devaluation

  

  Morgan Stanley has cut its 2012-13 growth forecasts for Argentina and forecasts a sharp devaluation of the Argentine peso next year as the economy starts to unravel amid high inflation and policy missteps.

• Monday, July 9th 2012 - 18:54 UTC

  Bad weather threatening crops in farming giants but it’s not like 2008

  

  A second global food price shock is gathering steam as bad weather decimates crops in the farming giants US, Brazil, Argentina, India, Russia, the EU and Australia that feed the world, according to market analysts.

• Monday, July 9th 2012 - 18:13 UTC

  Euro zone to tighten financial regulation following the Libor rigging scandal

  

  Michel Barnier, the European commissioner in charge of financial regulation, is expected to bring forward changes to his market abuse directive and regulation within in the next weeks, the Financial Times said on Monday.

• Monday, July 9th 2012 - 18:04 UTC

  BoE Tucker denies making any suggestions to Barclays on the Libor (in 2008)

  

  The deputy governor of the Bank of England (BoE) has said he did not give Barclays instructions to lower its Libor submissions in 2008. Paul Tucker said no government minister had asked him to “lean on” Barclays over its inter-bank lending rates. But he also told MPs that the BoE and the government feared that Barclays may need a bailout.