Economy

• Friday, May 11th 2012 - 02:31 UTC

  Falklands’ Desire Petroleum stake in oil discoveries worth 900 million dollars

  

  The North Falkland basin explorer Desire Petroleum has revealed the findings of an economic assessment of the group’s stake in the Sea Lion oil discovery, based on a high level development concept and economic review by Senergy from the UK.

• Friday, May 11th 2012 - 01:24 UTC

  Brazil underlines the “great political convergence” with Argentina in spite of trade differences

  

  Foreign Minister Antonio Patriota praised the “great political convergence” between Argentina and Brazil and assured that any existing problems related to the bilateral trade “do not tarnish this very strong reality.”

• Thursday, May 10th 2012 - 20:26 UTC

  China’s trade feeling the pinch of EU recession and US anaemic recovery

  

  China's export and import growth slowed in April raising fears about a sharp slowdown in its economy and triggering calls for monetary policy easing. Exports rose by 4.9% in April from a year earlier, down from the 8.9% annual growth seen in the previous month, a sign that global demand may be slowing.

• Thursday, May 10th 2012 - 20:18 UTC

  Europe at risk of Japanese-style ‘lost decade’ claims Dutch central bank

  

  Europe is at risk of a Japanese-style “Lost Decade” of low economic growth, weak consumer spending, poor company investment and tougher borrowing conditions, the Dutch central bank said on Thursday.

• Thursday, May 10th 2012 - 20:08 UTC

  Bank of England forgets stimulus and targets inflation in spite or recession

  

  Bank of England policymakers on Thursday decided against pumping more cash into Britain's recession-hit economy, preferring to sit tight after a surprise spike in inflation.

• Thursday, May 10th 2012 - 19:57 UTC

  Industrial sales and employment in Brazil gradually picking up

  

  Brazil's use of installed industrial capacity fell for a second consecutive month in March, despite a continued recovery of industrial sales during the period, Brazil's National Confederation of Industries, CNI, announced.

• Thursday, May 10th 2012 - 19:52 UTC

  Brazilian strategy to lower value of its currency seems to be working

  

  Investors pulled 1 billion dollars out of Brazil last week as Euro-zone debt fears continue to spook markets and the Brazilian government shows little sign of changing its hefty intervention policies.

• Thursday, May 10th 2012 - 19:47 UTC

  Colombian group interested in HSBC assets in Peru, Uruguay and Paraguay

  

  Banking giant HSBC Holdings PLC said on Thursday it is in talks on a possible sale of its operations in Colombia, Peru, Uruguay and Paraguay

• Thursday, May 10th 2012 - 19:43 UTC

  US April jobless figure drops to lowest since July 2008; unemployment, 8.1%

  

  The number of Americans submitting new applications for jobless benefits edged down last week, easing concerns the labour market was deteriorating after April's weak employment growth.

• Thursday, May 10th 2012 - 05:28 UTC

  Spain takes over fourth largest bank to try and calm markets

  

  Spain took over Bankia, the country's fourth biggest lender, on Wednesday, trying to dispel concerns over the government's ability to clean up the financial sector four years after the banks were hit by a property market crash.