Economy

• Wednesday, June 6th 2012 - 21:25 UTC

  Trichet proposes “emergency powers” for EU key institutions to address crises

  

  Europe's key institutions should have emergency powers to override economic and financial policies at a national level in times of crisis, Jean-Claude Trichet, former head of the European Central Bank, said on Wednesday.

• Wednesday, June 6th 2012 - 21:20 UTC

  ECB warns EU leaders that monetary policy won’t fill other institutions “lack of action”

  

  European Central Bank (ECB) president Mario Draghi said on Tuesday that risks to the Euro zone economy have increased and warned of “heightened uncertainty weighing on confidence and sentiment”.

• Wednesday, June 6th 2012 - 18:48 UTC

  Brazilian inflation falls below 5% in May for the first time since September 2010

  

  Brazil’s inflation rate fell more than economists expected in May, pushing the annual pace below 5% for the first time since September 2010. Monthly inflation slowed to 0.36% from 0.64% in April.

• Wednesday, June 6th 2012 - 06:36 UTC

  Argentine farmers conflict expands; all trading suspended for a week

  

  Argentine farmers’ organizations under the umbrella grouping Liaison Board announced on Tuesday a national strike cancelling all trade in grains, oilseeds and livestock to protest ‘national government policies’ against the land reform and tax hike in Buenos Aires province, among other issues.

• Wednesday, June 6th 2012 - 06:33 UTC

  Uruguayan economist joins Brookings Institution as director of Latam Initiative

  

  Ernesto Talvi, an expert on Latin America, emerging markets and economic policy, will join the Brookings Institution as director of the Latin American Initiative (LAI), Brookings President Strobe Talbott announced this week.

• Wednesday, June 6th 2012 - 06:30 UTC

  Consumer lending bank seized by Brazil’s Central bank for ‘serious financial violations’

  

  Brazil’s easy money policies have squeezed yet another of its banking weaklings. The country’s central bank seized consumer lender Banco Cruzeiro do Sul on Monday for “serious” financial violations. The episode serves as another example of a bank losing its way in Brazil’s lending frenzy

• Wednesday, June 6th 2012 - 06:27 UTC

  Uruguay planning to expand nascent sovereign debt market to improve liquidity

  

  Uruguay wants to expand its nascent local sovereign debt market to improve the liquidity of its securities, said Azucena Arbeleche, the head of the country’s debt management unit at the Ministry of Economy and Finance.

• Tuesday, June 5th 2012 - 23:53 UTC

  Brazil re-assessing its 3bn dollars potash project in Argentina due to ‘political risk’

  

  Brazil’s Vale Doce, the world's second-largest miner, expects to overcome obstacles that prompted management to re-assess a 3 billion dollars potash project in the Argentine province of Mendoza, the company's head of fertilizers, Roger Downey, said.

• Tuesday, June 5th 2012 - 23:47 UTC

  Santander bank chief praised Brazil as “the place to be to make business”

  

  Emilio Botin president of Santander, Spain’s largest bank and one of the leading EU financial institutions said that Brazil is the top priority for the group since it is the source of 30% of its global earnings and anticipated the opening of more branches in merit to the country’s economic stability and social progress.

• Tuesday, June 5th 2012 - 23:34 UTC

  Uruguay lost competitiveness for sixth month running in April with main trade partners

  

  External competitiveness of Uruguayan goods dropped for the sixth month running in April because locally produced goods’ prices in US dollars dropped less than those of its main trade partners according to figures released by the Central bank.