Economy

• Thursday, July 5th 2012 - 07:47 UTC

  Homes, offices and shops to be built at London’s iconic Battersea power station

  

  A consortium led by Malaysia's SP Setia Bhd has bought London's iconic Battersea power station for 400 million pounds ($623 million) and will redevelop the site into homes, offices and shops, the agents managing the sale said.

• Thursday, July 5th 2012 - 07:30 UTC

  Falklands’ considering easing capital gains tax for oil and gas industry

  

  The Falkland Islands government is considering tax legislation that will help to further promote the oil and gas industry activities by granting more time for the capital gains effective presentation.

• Wednesday, July 4th 2012 - 23:21 UTC

  Argentine economy forecasted to enter recession in second half, but could still end 2012 positive

  

  The odds that Argentina's economy will enter a recession in the second half of this year held above 95% for a second consecutive month in the closely followed monthly leading indicator published by Torcuato Di Tella University, UTDT.

• Wednesday, July 4th 2012 - 23:00 UTC

  Libor rate manipulation: Barclays’ former CEO does not convince PMs and points to Bank of England

  

  British banker Bob Diamond has revealed that one of his big fears during the 2008 global credit crisis was that his bank, Barclays, would be taken over by the British government.

• Wednesday, July 4th 2012 - 22:26 UTC

  Spanish court opens fraud case against Banka former executives

  

  A Spanish court opened a fraud case against former executives of lender Bankia on Wednesday amid mounting public anger against the state-rescued bank.

• Wednesday, July 4th 2012 - 06:05 UTC

  Inflation in Uruguay remains strong, reaches 4.13% in the first six months

  

  With a marginal descent, Uruguay’s annual inflation in the twelve months to June reached 8% compared to May’s, 8.06%, but still two percentage points above the Central bank upper cap target.

• Wednesday, July 4th 2012 - 05:58 UTC

  Barclays CEO resigns as the Libor rate fixing scandal widens

  

  UK Barclays chief executive Bob Diamond suddenly quit on Tuesday over an interest rate-rigging scandal that threatens to drag in a dozen more major lenders but suggested the Bank of England had encouraged his bank to manipulate the figures

• Wednesday, July 4th 2012 - 03:04 UTC

  Uruguay leaves benchmark rate at 8.75% on persistent concern with inflation

  

  Uruguay's central bank held its benchmark interest rate steady at 8.75% on Tuesday, citing “reasonable” economic growth and persistent concern about inflation expectations above target.

• Wednesday, July 4th 2012 - 02:53 UTC

  Partly Canadian owned South American airline on the verge of bankruptcy

  

  Uruguay’s bankrupt flagship carrier Pluna decided on Tuesday to cancel all flights during 48 hours following an announcement from the union of a two-day strike to protest working conditions and rumours of 200 redundancies.

• Tuesday, July 3rd 2012 - 18:56 UTC

  IMF praises Germany; suggests more stimuli to a tepid performing US economy

  

  An IMF report revealed that the German economy’s performance has been remarkable despite facing considerable headwinds and that the US recovery “remains tepid and subject to elevated downside risks.”