Economy

• Tuesday, October 4th 2011 - 20:29 UTC

  JP Morgan Chase forecast slower growth and lower interest rates in Brazil

  

  JPMorgan Chase & Co. cut its forecast for Brazil’s economic growth and said it expects the central bank to cut interest rates more than it previously expected as global financial turmoil weighs on confidence in Latin America’s biggest economy.

• Tuesday, October 4th 2011 - 20:24 UTC

  Brazil and EU call for concerted action to face current international situation

  

  Brazil and the European Union must take concerted action to calm markets fearful of global contagion spreading from Europe's debt crisis, leaders from both sides said on Tuesday.

• Tuesday, October 4th 2011 - 20:00 UTC

  Greek striking public sector workers blockade ministries and paralyze Athens

  

  Greece’s striking public sector workers blockaded the entrance to several ministries in Athens on the second anniversary of the ruling Socialist party's election victory, disrupting talks with EU and IMF inspectors on the next aid tranche.

• Tuesday, October 4th 2011 - 19:55 UTC

  Euro banks holders of Greek debt told to prepare for a further ‘shave’

  

  European finance ministers are considering making banks take bigger losses on Greek debt and have postponed a vital aid payment to Athens until mid-November, setting up a crunch point in the Euro zone's sovereign debt crisis.

• Tuesday, October 4th 2011 - 19:52 UTC

  Federal Reserve tries to calm markets; promises further action to prop the economy

  

  The Federal Reserve is prepared to take further steps to help a fragile economic recovery held back by a weak job market and financial stresses in Europe, Fed Chairman Ben Bernanke said on Tuesday.

• Tuesday, October 4th 2011 - 06:59 UTC

  Latin America has diminished poverty indexes but deep inequality gaps remain

  

  Latin America has experienced significant advances in the reduction of poverty but has barely improved the deep social inequalities that limit its development according to Heraldo Muñoz, head of the regional UN Program for Development.

• Tuesday, October 4th 2011 - 06:45 UTC

  EU farm losses from trade deal with Mercosur ‘would range 1 to 3 billion Euros’

  

  European Union farmers could suffer losses ranking from one to three billion Euros if a trade agreement is finally agreed with Mercosur according to a European Commission evaluation paper on the impact.

• Monday, October 3rd 2011 - 22:08 UTC

  Aerolíneas Argentinas among the top short list of money loosing air carriers

  

  Aerolíneas Argentinas is estimated to have lost in the last twelve months 486 million dollars which puts her among the air carriers with greatest losses in the world. Only Air India, also government managed, but with 30.000 staff (three times her Argentine counterpart) dilapidated 1.2 billion dollars and Kuwait Airways, 564 million dollars

• Monday, October 3rd 2011 - 22:05 UTC

  Half a million sheep dead in Patagonia because of the volcanic ash

  

  Half a million sheep have already died in Argentine Patagonia as a result of the eruption of the Chilean volcano Puyehe, which has covered most fields in the province of Chubut with a film made of a mix of mineral ash.

• Monday, October 3rd 2011 - 21:13 UTC

  “Chavez preaches Socialism but spends like a rich capitalist”, Venezuela Transparency

  

  One morning October last year two agents from the Venezuelan presidency cabinet left on a special mission from the Miraflores Palace (seat of the Executive). They headed a few blocks away to the Central Bank to pick up five million dollars cash, expenses-money for the coming international tour of President Chavez to Moscow, Kiev, Teheran, Damascus and Tripoli.