United States Treasury Secretary Timothy Geithner said France's Christine Lagarde and Mexico's Agustin Carstens are both credible candidates to lead the International Monetary Fund, but he wants the candidate who can earn the broadest support.
One of the world’s biggest tobacco companies is launching a claim against Uruguay for considering the country’s legislation commercially damaging to the company. Philip Morris corporation has filed a claim at the International Centre for Settlement of Investment Disputes (ICSID), a World Bank branch.
The global economic recovery still faces many risks, which could lead to stagflation, the OECD has said in its latest economic outlook. World growth is forecast to be 4.2% this year, down from 4.9% last year, before rising to 4.6% in 2012.
Brazil and Argentina agreed to monthly meetings on commerce, Argentina said, as the neighbouring countries try to overcome tensions that flared earlier this month over car imports.
Top emerging economies joined forces to slam Europe's obsolete grip on the IMF top job, even as France's finance minister appeared to strengthen her lead in the race to replace Dominique Strauss-Kahn.
UK's credit rating has been cut by the Dagong rating agency of China. The agency blamed the UK's sluggish growth, which it said would be stuck in the 1.3%-1.5% range for two more years, hurting government finances.
Brazil which gets about 80% of its energy from hydroelectricity is considering a record investment of 4.1 billion Real (2.5 billion USD) for wind farms this year to diversify its power supply.
The Group of 20 (G20) largest economies are largely keeping their pledges to avoid protectionism as a reaction to the recent global recession, but the rest of the world is increasing trade barriers, a new report co-authored by the UN said Tuesday.
The apparent impasse in the European Union/Mercosur trade talks was addressed by the Paraguayan president Fernando Lugo at a meeting on Tuesday with Members of the European Parliament and the EU delegation to Mercosur negotiations.
China would support Finance Minister Christine Lagarde as the next IMF chief the French government said backing which would put her firmly in pole position to succeed Dominique Strauss-Kahn.