Economy

• Friday, June 22nd 2012 - 07:36 UTC

  Spanish banks need 62bn Euros; full bail-out of the country in the drawing board

  

  Spain's medium-term borrowing costs spiralled to a Euro-era record on Thursday and independent auditors said Spanish banks may need up to 62 billion Euros in extra capital, to be filled mostly by a Euro zone bailout.

• Thursday, June 21st 2012 - 18:12 UTC

  Uruguayan minister admits deep concern about events in the Euro zone

  

  Uruguayan Minister of Economy Fernando Lorenzo expressed deep concern regarding events in Europe and warned that “the longer the delay in effectively analyzing the cost of the crisis” then everything will work out “much costlier”.

• Thursday, June 21st 2012 - 18:00 UTC

  Dollar clamp measures hit Argentine mining industry and exports are “at bare minimum”

  

  Mining companies in Argentina have sharply reduced exports because they are unable to meet a new government rule forcing them to cash in the proceeds within 30 days, the head of an industry group said.

• Thursday, June 21st 2012 - 05:51 UTC

  Argentine government authorizes the export of 6 million tons of 2012/13 wheat

  

  Argentina's government authorized this week the export of 6 million tons of 2012/13 wheat as farmers advance with early plantings, officials said.

• Thursday, June 21st 2012 - 05:46 UTC

  Drought hit Argentina soy beans and corn crops really hard

  

  Argentina's biggest grains exchange trimmed its forecast for 2011/12 soy output this week to 40.5 million tons, down from May's estimate of 40.9 million tons as harvesting enters the home stretch.

• Thursday, June 21st 2012 - 05:44 UTC

  Argentines inflation expectations remain above 30% for the fourth month running

  

  Argentines' expectations for future inflation held steady in June, marking the fourth consecutive month in which people have expected annual inflation to total 30%.

• Thursday, June 21st 2012 - 05:34 UTC

  Brazil’s central bank forecasts strong rebound in last quarter and early 2013

  

  Brazil’s economy will be expanding in the beginning of next year at the fastest pace since the last quarter of 2010, said central bank President Alexandre Tombini.

• Thursday, June 21st 2012 - 05:07 UTC

  UK largest corporations will have to report greenhouse-gas emissions in profit reports

  

  UK Deputy Prime Minister Nick Clegg announced that starting next April, all companies that list on the London Stock Exchange will be required to publish their greenhouse gas emissions in corporate earnings reports.

• Wednesday, June 20th 2012 - 20:30 UTC

  Federal Reserve extends monetary stimulus for another six months

  

  The Federal Reserve extended on Wednesday its monetary stimulus to the US economic recovery renewing effort to depress borrowing costs by selling short-term bonds to buy longer-dated ones.

• Wednesday, June 20th 2012 - 10:32 UTC

  Once the pride of the RAF and RN, the Harriers sit at the US “Boneyard”

  

  Once the pride of Britain’s RAF and Royal Navy, the now stripped-down Harrier vertical take-off jump jets sit like skeletons in the famous US aircraft ‘Boneyard’ in the Arizona desert.