A Chilean appeals court in Puerto Montt voted 3 to 1 to reject seven lawsuits brought against the proposed controversial HidroAysén hydroelectric mega-dam approved by the Chilean government on May 9 of this year.
Annual inflation in Brazil hit a six-year high in September, government data showed on Friday. The benchmark IPCA consumer price index rose 7.31% in the 12 months through September -- above the official target range ceiling of 6.5% for the sixth straight month and the highest 12-month rate since May 2005.
Fitch cut on Friday Italy's sovereign credit rating by one notch and Spain's by two, citing a worsening of the Euro zone debt crisis and a risk of fiscal slippage in both countries. Fitch cut Italy's rating to A+ from AA- and lowered Spain to AA- from AA+.
Moody's has downgraded the credit rating of 12 UK financial firms including Lloyds TSB, RBS, Nationwide and Santander UK. The ratings agency said it now believed the government was less likely to support firms that got into trouble.
Even when the price of copper, Chile’s number one export, only begun to recover Friday of continued consecutive falls, in September and the first week of October the red metal reached its lowest level in 14 months.
Latin American policy makers must be prepared to use interest rate cuts and consider fiscal measures to protect their economies in the event that the global economy stalls, the International Monetary Fund said.
US employment grew more than expected in September and job gains for the prior months were revised higher, according to a government report, released Friday, that could ease fears the economy was heading into recession.
Argentina has the ability to sustain its economic growth amid a slowdown in the global economy, thanks to domestic demand and trade with other South American nations, said Deputy Economy Minister Roberto Feletti.
United States President Obama on Thursday called the “Occupy Wall Street” protests a reflection of a broad-based frustration about how our financial system works and pledged to continue fighting to protect American consumers.
Output at Brazil's mines and factories slowed in August, falling a seasonally adjusted 0.2% from July as production in the country's industrial sector suffered the impact of cheap imports and the sluggish global economy.