Economy

Monday, October 3rd 2011 - 08:07 UTC
Brazil props defence industry by reducing taxes, but demands more exports

Brazilian President Dilma Rousseff signed a bill exempting defence companies from taxes for five years. The measure is geared to prop the defence industry and reduce the share of imported equipment for the armed forces.
Monday, October 3rd 2011 - 08:01 UTC
US with highest poverty levels in 52 years: 46.2m including 14.7m children

Poverty in the United States has grown steadily in the past few years. According to the US Census bureau, 46.2 million people lived in poverty in 2010, the highest in the 52 years poverty estimates have been published.
Monday, October 3rd 2011 - 07:57 UTC
Rare Dolan ram has a going price in China of £ 1.4 million

Only 1,000 Dolan sheep exist in the world, according to breeders, and their extraordinary features have made them the latest collectors' item for ultra-rich Chinese, writes the Daily Telegraph.
Monday, October 3rd 2011 - 07:22 UTC
Rousseff and Blatter to discuss disputes regarding organization of 2014 World Cup

Brazilian President Dilma Rousseff plans to meet the president of soccer's world governing body on Monday to resolve a legal dispute over the 2014 World Cup, the Estado de S. Paulo newspaper reported.
Monday, October 3rd 2011 - 06:56 UTC
US regulator says it has discovered ‘apparent failures’ at 10 credit rating agencies

The United States Securities and Exchange Commission (SEC) has discovered “apparent failures” at 10 credit rating agencies. SEC said it was concerned that the agencies - including Standard & Poor's (S&P) and Moody's - were not making timely and accurate disclosures or managing conflicts of interest.
Monday, October 3rd 2011 - 05:24 UTC
Mercosur/EU trade and Euro crisis, in President Rousseff agenda in Brussels

The Mercosur-EU trade agreement is one of several issues Brazilian president Dilma Rousseff will be addressing Monday in Brussels during the fifth Brazil-EU summit. Rousseff begins in Belgium an official visit to Europe that also includes Turkey and Bulgaria.
Monday, October 3rd 2011 - 05:21 UTC
‘Occupy Wall Street’ protestors vowed to keep fight in spite of 700 arrests

Anti-Wall Street protesters vowed to keep up their fight on Sunday despite the arrests of more than 700 people the previous day for blocking traffic lanes on the Brooklyn Bridge in an unauthorized protest.
Saturday, October 1st 2011 - 05:54 UTC
Brazilian president calls on Central bank for “a cycle of interest rate reductions”

Brazilian President Dilma Rousseff made on Friday her strongest call yet for the central bank to continue cutting borrowing costs. At an event in Sao Paulo she said it was “inadmissible” for policy makers not to take into account the possibility of a recession and even a depression in the global economy.
Saturday, October 1st 2011 - 05:50 UTC
Achieving investment grade is “not critical” for Uruguay, says Economy minister

Achieving investment grade in the current global scenario is “not critical” for Uruguay since the country has sufficient financing and operates in world markets as “if it had a better rating than it actually has”, said Economy minister Fernando Lorenzo.
Saturday, October 1st 2011 - 05:42 UTC
Chilean Peso in September slumps 10%, and copper slides 24%

Chile’s peso posted its biggest monthly drop since Lehman Brothers Holdings Inc. collapsed as a slump in copper dimmed trade prospects for the metal’s biggest producer. The peso sank 1.3% to 519.75 per US dollar on Friday.