Economy

• Thursday, March 1st 2012 - 04:19 UTC

  Good fourth quarter for US economy: GDP expands at 3% annual rate

  

  The US economy grew a bit faster than initially thought in the fourth quarter on slightly firmer consumer and business spending, which could help to allay fears of a sharp slowdown in growth in early 2012.

• Thursday, March 1st 2012 - 04:09 UTC

  European MP calls for end to Argentine aid until it stops threatening Falklands

  

  A several million pounds EU aid program to help Argentina should be halted until the country stops “threatening” Britain over the Falkland Islands, said member of the European parliament Nerj Deva.

• Wednesday, February 29th 2012 - 14:51 UTC

  ECB massive cheap funds influx hoping to ease credit and government borrowing

  

  Banks grabbed 530 billion Euros at the European Central Bank's second offering of cheap three-year funds on Wednesday, fuelling hopes that more credit will flow to businesses and government borrowing costs will ease further.

• Wednesday, February 29th 2012 - 14:35 UTC

  Foreign Office summons Argentine diplomat; limiting trade “counterproductive”

  

  Argentina's top diplomat in Britain was summoned to London's Foreign Office on Wednesday to explain his country's decision to ask 20 leading companies to stop importing British products and supplies.

• Wednesday, February 29th 2012 - 07:41 UTC

  Argentine teachers strike delays school year; four million children remain at home

  

  Almost 60% of Argentina’s school children could not begin the new school year and had to remain at home because of a 48 hours teachers strike following the collapse of salary negotiations.

• Wednesday, February 29th 2012 - 07:24 UTC

  Argentina spending more than it produces; “default situation” can’t be discarded

  

  Argentina currently consumes more than it produces and only with strong growth can it avoid another default situation since liabilities continue to increase, warns economist Diana Mondino.

• Wednesday, February 29th 2012 - 07:14 UTC

  Argentines flood Chile to purchase electronic devices and home appliances

  

  Seven out of ten Argentine cars that cross to Chile return home with electronic devices and home appliances bought in some Chilean city, according to a report from the Buenos Aires daily La Nación.

• Wednesday, February 29th 2012 - 07:11 UTC

  Greece slashes minimum wage and pensions to help rescue the Euro

  

  Greece approved bitter new austerity measures on Tuesday, slashing the minimum wage and chopping pensions as Athens began implementing measures demanded by international lenders in return for a 130 billion Euro rescue package.

• Wednesday, February 29th 2012 - 01:24 UTC

  Argentina urges industry and business to cut imports from the UK

  

  The Buenos Aires media, basically the ambito.com site reports that Argentine industry and business leaders were contacted by the Ministry of Industry which tried to persuade them from buying British supplies.

• Tuesday, February 28th 2012 - 17:37 UTC

  Santiago de Chile has the tallest building in South America

  

  Santiago de Chile has the highest skyscraper in South America: the Gran Torre Costanera reached this condition when it surpassed the 300 metres height. The 107.125 square metres block has been designed by Chilean architects Alemparte, Barreda & Associates together with Pelli, Clarke, Pelli Architects, responsible for the Petrona Towers in Kuala Lampur.