Economy

• Wednesday, January 25th 2012 - 21:07 UTC

  Merkel asks business leaders to give policy makers “needed space” to tackle Euro crisis

  

  German Chancellor Angela Merkel appealed to business leaders at the World Economic Forum to give policy makers the space they need to tackle the debt crisis, pledging that Europe will pull together and restore confidence.

• Wednesday, January 25th 2012 - 20:44 UTC

  Greek “negotiated haircut” may need to be extended to public sector creditors warns Lagarde

  

  Greece's public sector creditors may need to participate in a restructuring of its debt if a haircut negotiated with private sector bondholders is not enough to make Athens' debt sustainable, IMF Managing Director Christine Lagarde said.

• Wednesday, January 25th 2012 - 20:35 UTC

  Greek sovereign debt following “footsteps of Argentina’s 2002 disorderly default”

  

  Greece's sovereign debt restructuring appears to be following the footsteps of Argentina's disorderly debt default of 2002, a creditor that is participating in the negotiations warned this week.

• Wednesday, January 25th 2012 - 07:54 UTC

  IMF forecasts 2012 slower growth in Latam, but above the world average

  

  Latin American growth this year should stay under the 4% estimated previously at 3.6% since the region is susceptible to the slowing down of the world’s economy and increasing risks of the financial crisis on the Euro zone, according to the IMF World Economic Outlook released Tuesday.

• Wednesday, January 25th 2012 - 07:51 UTC

  Obama attacks income inequality and calls for higher taxes on the wealthy

  

  President Barack Obama has attacked income inequality as he set the tone for his re-election bid in his third State of the Union speech. Obama emphasised the importance of an economy that works for everyone, in the nationally televised address to Congress.

• Wednesday, January 25th 2012 - 07:49 UTC

  Boudou says ‘house in order’ as President Cristina Fernandez prepares for the comeback

  

  In his last public appearance as Argentine acting President, Vice-President Amado Boudou announced on Tuesday the figures of 2011’s fiscal surplus and gave a strong defence of the Kirchner economic inclusive development model.

• Wednesday, January 25th 2012 - 07:39 UTC

  Falklands announces 2012 first collector coin: Life cycle of the butterfly

  

  The Treasury of the Falkland Islands Government announced the launch of their first collector coin for 2012, which features the Life Cycle of the Butterfly.

• Wednesday, January 25th 2012 - 07:37 UTC

  BMW plans to build cars in Brazil as of 2014

  

  Germany’s BMW Ag., the world’s largest luxury carmaker plans to build cars in the Brazilian state of Santa Catarina from 2014 reports Automobilewoche.

• Wednesday, January 25th 2012 - 04:21 UTC

  S&P likely to downgrade Greece’s rating to “selective default”

  

  Standard & Poor's will likely downgrade Greece's ratings to “selective default” when the country concludes its debt restructuring, but that will not necessarily destroy the credibility of the European Union, an official with the ratings agency said on Tuesday.

• Wednesday, January 25th 2012 - 04:06 UTC

  IMF warns Euro zone crisis is dragging down the world economy

  

  The Euro zone debt crisis is escalating and dragging down the world economy, the International Monetary Fund said on Tuesday, as it sharply cut its outlook for global growth and called for policies to restore confidence.