Economy

• 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.

• Monday, July 9th 2012 - 12:45 UTC

  Bolivia: Indigenous rioting threaten Canadian mining company with nationalization

  

  Bolivia will consider nationalizing Canadian miner South American Silver Corp's silver property, President Evo Morales said on Sunday, following violent indigenous protests against the mining project.

• Monday, July 9th 2012 - 12:29 UTC

  Brazil plans to become main producer/exporter of iron ore by 2015

  

  Hong Kong's Honbridge Holdings Ltd plans to build a 420-kilometre pipeline to ship iron-ore from a mine in Brazil's Minas Gerais state to a port on the country's Atlantic coast, the Estado de Minas newspaper reported.

• Monday, July 9th 2012 - 12:20 UTC

  Italy announces further cuts in expenditure and freezes government hiring

  

  Italy's government has agreed to cut spending by 26bn Euros over the next three years to plug the gap between spending and income. The cuts, approved after seven hours of talks, include a 10% reduction in the number of civil servants and cuts to healthcare and come as Italy struggles to keep the faith of investors.

• Monday, July 9th 2012 - 06:09 UTC

  China inflation down to a 29-month-low in June: 2.2%

  

  China’s consumer-price inflation eased to a 29-month low in June, giving Premier Wen Jiabao more room to relax economic policies after the second interest-rate cut in a month. The consumer price index rose 2.2% percent from a year earlier, the National Bureau of Statistics said in Beijing. Producer prices dropped 2.1%.

• Monday, July 9th 2012 - 06:05 UTC

  Influential Brazilian banker says further weakening of the Real “would be better”

  

  Luciano Coutinho president of Brazil’s state development bank BNDES, said the country has benefited from the recent weakening of its currency and a further drop would be better, according to newspaper Folha de Sao Paulo.

• Saturday, July 7th 2012 - 05:27 UTC

  Brazil June inflation lowest in two years helped with temporary tax breaks

  

  Brazil’s inflation slowed to its lowest in almost two years on temporary tax breaks for autos, paving the way for more interest rate cuts as the government tries to revive economic growth.

• Saturday, July 7th 2012 - 05:15 UTC

  Argentina ends double taxing treaty with Chile which was running since 1976

  

  Chilean Foreign Minister Alfredo Moreno regretted Argentina’s decision to end a double taxing agreement which was running since 1976 and exempts Chileans and Argentines making business in the neighbouring country from paying taxes as long as they are already contributors at home.

• Saturday, July 7th 2012 - 05:12 UTC

  Euro crisis “the greatest external economic risk” for Latinamerican growth

  

  The Euro crisis is the “greatest external economic risk” for Latinamerica warned the Inter American Development Bank Luis Alberto Moreno who nevertheless said he was convinced the world with end acknowledging the efforts from the European Union and Spain.

• Saturday, July 7th 2012 - 01:37 UTC

  Strong demand for Falklands beef: MPA burgers and the oil industry

  

  The Falkland Islands national beef herd could be doubled to meet current and potential markets, farmers heard at a Falklands Meat Company, FMC, meeting this week in Stanley.