Economy

• Wednesday, November 9th 2011 - 06:22 UTC

  Lloyds reports £ 3.9bn loss in nine months; blames cost of settling PPI claims

  

  Lloyds Banking Group has reported a £3.9bn (6.3bn) loss for the first nine months of 2011, mainly due to the cost of settling claims for mis-selling payment protection insurance (PPI).

• Wednesday, November 9th 2011 - 06:16 UTC

  Berlusconi stepping down; technocrat or national unity government to follow

  

  Italian Prime Minister Silvio Berlusconi said on Tuesday he would resign after suffering a humiliating setback in parliament that showed a party revolt had stripped him of a majority.

• Tuesday, November 8th 2011 - 08:13 UTC

  YPF announces a billion barrels shale-oil discovery in Argentina

  

  Oil company YPF confirmed Monday the finding of its biggest oil discovery in Argentina yet to the Buenos Aires stock exchange. The discovery was made in the Neuquén province and is equivalent to 927 million barrels.

• Tuesday, November 8th 2011 - 07:58 UTC

  Rousseff warns about global unemployment; calls for plans to generate jobs

  

  Brazilian President Dilma Rousseff addressing the results of the G20 summit in Cannes, where Brazil was one of the countries represented said that job creation is a way to tackle economic crises.

• Monday, November 7th 2011 - 05:54 UTC

  Major oil company sale collapses after Argentina impones forex controls

  

  China’s Cnooc Ltd.'s deal to buy BP Plc's 7.1 billion dollars stake in Argentine crude producer Pan American Energy LLC collapsed, ten days after Argentina's president ordered oil companies to repatriate export revenue.

• Monday, November 7th 2011 - 05:43 UTC

  Argentine car exports felt in October the cooling of the Brazilian market

  

  Argentina's car makers, a key pillar of the industrial sector, saw production cool in October from the record levels seen in recent months as demand from neighboring Brazil dropped off.

• Saturday, November 5th 2011 - 08:02 UTC

  G20 agrees on an “action plan”, but details will have to wait

  

  The G20, composed of the world's most powerful economies, come up Friday with an “action plan” to save the world economic and stabilize the global monetary system, according to an official statement from the Group of 20. The continuing Euro zone debt crisis has dominated the summit.

• Friday, November 4th 2011 - 08:39 UTC

  South African group awarded contract to build St Helena international airport

  

  The St Helena Government this week entered into a contract with South Africa’s Basil Read (Pty) Ltd in the amount of £201.5 million for the design and construction of the airport, an additional up to £10 million in shared risk contingency, and £35.1 million for ten years of operation.

• Friday, November 4th 2011 - 08:24 UTC

  Papandreou yields, scraps referendum, promises to step down

  

  Intense European pressure forced debt-stricken Greece to seek political consensus on a new bailout plan instead of holding a referendum after EU leaders raised the prospect of a Greek exit from the Euro to preserve the single currency.

• Friday, November 4th 2011 - 08:20 UTC

  FAO food price index drops in October but remains higher than in 2010 and volatile

  

  The FAO Food price index dropped to an 11-month low in October, declining 4%, or nine points, to 216 points from September. Nonetheless prices still remain generally higher than last year and very volatile, FAO said.