Economy

• Tuesday, January 31st 2012 - 05:27 UTC

  EU agrees permanent rescue fund and 25 member back German budget discipline pact

  

  European leaders agreed on a permanent rescue fund for the Euro zone on Monday and 25 out of 27 EU states backed a German-inspired pact for stricter budget discipline, but they struggled to reconcile fiscal austerity with economic growth.

• Tuesday, January 31st 2012 - 05:24 UTC

  Argentine government and organized labour clash in first day of a week of conflicts

  

  The Argentine government as was anticipated by organized labour woke on Monday to the first day of a week of conflicts over salary and work conditions, taking as the leading case for the struggle the Argentine post office and its distribution fleet.

• Tuesday, January 31st 2012 - 05:13 UTC

  On line shopping giant Amazon accused of artificially inflating prices

  

  On line shopping giant Amazon has been accused of artificially inflating prices by banning firms that trade on its website from selling goods more cheaply elsewhere on the internet.

• Tuesday, January 31st 2012 - 05:09 UTC

  BAE yards threatened once Royal Navy carriers are delivered in 2018, warn unions

  

  Britain should bring forward orders for a new generation of navy frigates to help BAE Systems bridge a production hiatus that’s threatening its warship-making capabilities and 6.000 engineering jobs, the Unite union revealed.

• Tuesday, January 31st 2012 - 05:04 UTC

  Shallow canals and low water levels obstruct Argentina’s main grains terminal

  

  The grounding of two bulk carriers one in the Parana River and a second in the Martin Garcia access canal are evidence of the frail fluvial communications system between the River Plate and the Atlantic, reports the press from the port of Rosario, Argentina’s second largest city and among the world’s main grain export terminals.

• Tuesday, January 31st 2012 - 05:01 UTC

  One in three workers worldwide unemployed or living in poverty, says ILO

  

  The world faces the “urgent challenge” of creating 600 million productive jobs over the next decade in order to generate sustainable growth and maintain social cohesion, according to the annual report on global employment by the International Labour Organization (ILO).

• Tuesday, January 31st 2012 - 04:59 UTC

  ILO blames Germany’s low-wages policy as contributing to the Euro debt crisis

  

  Germany's persistent policies to push down wages have harmed fellow Euro zone member countries and contributed to the bloc's current debt crisis, the International Labor Organization (ILO) said in Geneva.

• Monday, January 30th 2012 - 23:08 UTC

  With dwindling oil production Argentina floats idea of re-nationalizing YPF

  

  YPF SA shares fell the most in 20 months after newspaper Pagina/12 said Argentine officials discussed a takeover of the country’s biggest oil producer, following a controversy with the oil industry over alleged fuel-price fixing and lack of investment which doubled the country’s fuel imports bill to 9.4 billion dollars in 2011.

• Monday, January 30th 2012 - 23:02 UTC

  Argentine industrial production forecasted to expand 6% to 7% in 2012

  

  Argentine industrial production is expected to expand 6% to 7% this year, Industry Minister Debora Giorgi said in a statement Sunday. That would put industrial growth inline with 2011, when it rose 6.5%, according to the national statistics agency, Indec.

• Monday, January 30th 2012 - 21:28 UTC

  Argentina targeting “60 to 70 billion dollars” outside the financial system

  

  In Argentina there are an estimated 60 to 70 billion dollars “outside the financial system” according to the head of the Financial Information Unit, FIU, which is the country’s office in charge of preventing and combating money laundering.