Economy

• Friday, June 1st 2012 - 17:29 UTC

  Brazilian industrial output contracted for a second straight month in April

  

  Brazil’s industrial output unexpectedly contracted for a second straight month in April even as the government steps up measures to boost economic growth.

• Friday, June 1st 2012 - 07:03 UTC

  Brazil’s former Central bank president named head of Lazard Americas

  

  Lazard Ltd. announced this week the appointment of Henrique Meirelles as Chairman, Lazard Americas, effective immediately. Meirelles was former President of the Central Bank of Brazil.

• Friday, June 1st 2012 - 06:57 UTC

  Jaguar-Land Rover follows BMW puts plans to build a plant in Brazil on hold

  

  Jaguar Land Rover, the luxury car unit of India's Tata Motors has followed Germany's BMW AG in suspending plans to build a new plant in Brazil as tax changes and slowing growth have given premium auto makers cold feet about investing in a potentially lucrative market.

• Friday, June 1st 2012 - 06:52 UTC

  Paraguayan president returns after a two-week controversial tour of Asia

  

  Paraguayan President Fernando Lugo returns home this week after a two-week” tour of Asia where he went in search of new markets for Paraguay’s two largest exports, beef and soy.

• Friday, June 1st 2012 - 06:35 UTC

  Greater transparency and social communication for Brazil’s central bank

  

  Brazil’s central bank created a post on its board to improve transparency and communications two weeks after President Alexandre Tombini said it’s increasingly important for central banks to provide “forward guidance” to the market.

• Friday, June 1st 2012 - 02:24 UTC

  Uruguay looks to China to expand trade and services, and attract more investment

  

  Uruguay looks forward to increase trade with China in value and diversification as Beijing commands a bigger economic and cooperation role in South America, Uruguayan Foreign Minister Luis Almagro said in an interview with China Daily.

• Friday, June 1st 2012 - 02:16 UTC

  Italy hugely exposed to the Euro-debt turmoil and to Spanish contagion

  

  Italy is hugely exposed to the risk of contagion from the debt turmoil in the euro zone, said Prime Minister Mario Monti, suggesting the European Central Bank take action to help cool borrowing costs.

• Thursday, May 31st 2012 - 05:52 UTC

  Labour Organization warns “Euro zone extreme policies could produce extreme reactions”

  

  Extreme policies to tackle the crisis in the Euro zone could produce extreme reactions, the outgoing Director-General of the International Labour Organization (ILO), Juan Somavia, told the delegates to the 101st International Labour Conference (ilo.org/ilc) that opened in Geneva on Wednesday 30 May.

• Thursday, May 31st 2012 - 05:46 UTC

  Brazil cuts interest rate for the seventh time to a record low of 8.50%

  

  Brazil's central bank cut interest rates on Wednesday for the seventh straight time to a record low 8.50%, moving into uncharted territory in a bid to shield a fragile recovery from a gloomy global outlook.

• Thursday, May 31st 2012 - 02:46 UTC

  “Dollar clamp” cases will be dealt in the courts warns Argentine Chief Justice

  

  In spite of the barrage of statements is support of currency exchange controls (or clamped dollar) implemented by the Argentine government, the Supreme Court chief justice admitted that it could soon have to deal with complaints.