Economy

Tuesday, July 12th 2011 - 01:47 UTC
Euro confidence crisis, Italian chapter, sends world markets tumbling

Global stocks and the Euro sank as fears that Italy could become the latest country caught up in the Euro-zone debt crisis caused investors to sell risky assets and snap up safe-haven US Treasury debt, pushing the 10-year note's yield below 3%.
Monday, July 11th 2011 - 18:17 UTC
“Sweet” sugar futures until the northern hemisphere crop is harvested

Sugar supplies will remain limited until the 2012-13 harvest begins in top producer Brazil, broker FCStone do Brasil said citing futures traded in New York. The rise in sugar price helped push the FAO Food Price Index to 234 points in June, which is 39% higher than a year ago.
Monday, July 11th 2011 - 07:51 UTC
China’s trade surplus soars in June with imports growth slowing down

China's trade surplus widened more than expected to 22.3 billion US dollars in June, the highest level in seven months, as imports grew at the slowest pace since 2009. The surplus was 13.1 billion USD the previous month and 20 billion USD a year earlier.
Saturday, July 9th 2011 - 07:35 UTC
Argentina files criminal charges against consulting firm for publishing inflation data

Argentina's government has filed criminal charges against the managers of an economic consulting firm, escalating its persecution of independent economists. A federal court official said Friday that a judge is evaluating the charges but has yet to decide if it is appropriate to begin investigating them.
Saturday, July 9th 2011 - 07:26 UTC
US jobs data for June disappoints markets: unemployment again at 9.2%

US employment growth ground to a halt in June, with employers hiring the fewest number of workers in nine months, dousing hopes the economy would regain momentum in the second half of the year.
Saturday, July 9th 2011 - 07:21 UTC
Brazil introduces rules on short-dollar positions to curb speculation with the Real

Brazil’s central bank changed currency market rules to curb bets that the Real will appreciate against the dollar, according to an e-mailed statement. Brazil will require that banks make non-interest bearing deposits with the central bank equivalent to 60% of their short dollar positions exceeding 1 billion US dollars, the bank said.
Saturday, July 9th 2011 - 07:03 UTC
Fiat confirms trade disputes between Argentina and Brazil

Fiat will trim some production in Brazil and Argentina for a week because of a trade spat between the South American neighbours, the Italian car maker said on Friday.
Saturday, July 9th 2011 - 06:51 UTC
Obama says debt-limit controversy fuelling uncertainty in the business sector

President Barack Obama cited gloomy jobs numbers as one more reason lawmakers must strike a deal soon to raise the US debt limit, saying the impasse was fuelling uncertainty within financial markets and in the business sector.
Saturday, July 9th 2011 - 06:47 UTC
Inflation at its highest level in three years; concerns over food prices and social unrest

Inflation in China has risen to its highest level for three years, despite a series of interest rate rises and curbs on bank lending. Prices in June rose 6.4% from a year earlier, well above the rate for May.
Saturday, July 9th 2011 - 06:37 UTC
US beef and poultry become highly competitive as costs soar in Mercosur

Brazil’s JBS SA, the world’s biggest beef producer, is betting on a rebound in U.S. meat sales as a weak dollar makes production in the country as competitive as in emerging markets.