Economy

• Friday, February 3rd 2012 - 19:00 UTC

  China has neither the ability or the intention to ‘buy Europe’ says Wen Jibao

  

  China's Premier Wen Jiabao said on Friday the Asian giant had neither the ability nor the intention to “buy Europe”, amid concerns over growing Chinese investment in debt-stricken Euro zone economies.

• Friday, February 3rd 2012 - 18:33 UTC

  US economy creating jobs at fastest pace in months: unemployment drops to 8.3%

  

  The US economy created jobs at the fastest pace in nine months in January and the unemployment rate dropped to a near three-year low of 8.3%, indicating last quarter's growth carried into early 2012.

• Friday, February 3rd 2012 - 18:31 UTC

  Bernanke warns US government debt relative to GDP is “clearly unsustainable”

  

  The growth of US government debt relative to GDP is “clearly unsustainable”, Federal Reserve Chairman Ben Bernanke said in a congressional testimony.

• Friday, February 3rd 2012 - 18:14 UTC

  Uruguay inflation up 0.74% in January and 8.05% in the last twelve months

  

  Uruguay's inflation rate rose in January 0.74% from December as housing, hotel and restaurant prices jumped, the national statistics agency, INE, reported this week. The consumer price index rose 8.05% on the year at the end of January, INE said.

• Friday, February 3rd 2012 - 18:01 UTC

  Aerolíneas receives a daily government support of over 2 million dollars

  

  Argentina’s flag carrier ended the last twelve months with a drop in the number of passengers transported, totalling 6.017.886, which is 5.97% less than in 2010. However income from the sale of tickets reached 1.334 billion dollars, which is 14% higher, according to the latest numbers available.

• Friday, February 3rd 2012 - 17:56 UTC

  Brazilian minister travels to Argentina to discuss latest set of import obstacles

  

  Brazilian Secretary of Foreign Trade Tatiana Prazeres will be travelling to Buenos Aires next Monday to address with Argentine counterparts the extent of the last set of measures implemented by the administration of President Cristina Fernandez to slow down the flow of imports.

• Thursday, February 2nd 2012 - 22:54 UTC

  CFK warns corporations have “made a lot of money”: don’t forget workers’ share

  

  Argentine President Cristina Fernández ruled out that the Government is planning to set a ceiling on this year’s collective bargaining and said that unions must “carry on with their salary negotiations freely by taking corporate profit into account.” She announced, however, the creation of a committee in order to follow them closely.

• Thursday, February 2nd 2012 - 05:47 UTC

  Brazil will evaluate the impact and legality of Argentina’s latest trade barriers

  

  The Brazilian government expressed concerns over the new Argentine trade barriers going in effect on Wednesday and informed that it would “evaluate its impact and legality” before making any decisions, Foreign Trade secretary Tatiana Prazeres announced.

• Thursday, February 2nd 2012 - 05:36 UTC

  Obama administration unveils “Buffett rule” to tax all millionaires a minimum 30%

  

  The US administration of President Barack Obama formally unveiled on Wednesday the “Buffett rule”, legislation to ensure that all millionaires would pay a minimum federal tax of 30%.

• Thursday, February 2nd 2012 - 05:31 UTC

  American Airlines presents union plan to cut costs and 13.000 layoffs

  

  American Airlines said on Wednesday it needed to cut costs by 20% to stay afloat, as it met with union representatives to detail a plan for layoffs that reports said would total 13,000 workers.