Brazil will cut 55 billion Reais (32 billion dollars) from this year’s budget to allow interest rates to fall, while increasing investment to boost growth in the world’s second-biggest emerging market.
Brazil urged the World Bank on Wednesday to give proper consideration to developing country candidates to replace outgoing president Robert Zoellick and not just go with an American.
TAM, Brazil's largest airline, reported a fourth-quarter profit on rising ticket prices, fanning expectations of more profitable operations in the year ahead despite recent cost pressures.
Argentina’s Energy Institute, IAE, warned that the country faces an “unprecedented energy crisis” with strong drops in hydrocarbons reserves, production and the loss of self sufficiency.
Oil World cut its forecast for Brazil and Paraguay soybean production, extending the run of downgrades amid ideas that rains in the last two weeks has been insufficient to put a hold on crop losses.
Brazil imposed additional levies on the import of blankets from Mercosur associates Paraguay and Uruguay alleging triangulation of Chinese textiles, which are restricted because of dumping practices.
Rating agency Moody's announced on Tuesday it had downgraded six European nations including Italy, Spain and Portugal, citing growing risks from Europe's debt crisis, and warned it may cut the triple-A ratings of France, Britain and Austria.
Argentine President Cristina Fenandez again full of stamina criticized farmers, business people and workers’ unions, and at the same time called on all sides involved to live in the real Argentina, “not fantasy land, because Argentina is not Disneyland”.
President Barack Obama called on Monday for aggressive spending to boost growth and for higher taxes on the rich, laying out an election-year vision for the US in a budget that was criticized sharply by Republicans for failing to curb the deficit.
Banco Santander SA and Banco Bilbao Vizcaya Argentaria SA were among 15 Spain-based financial firms downgraded by Standard & Poor's after the credit-ratings company reduced the nation's grade last month.