Economy

• Friday, April 29th 2011 - 21:40 UTC

  Spain hits new unemployment record; crackdown on the black economy

  

  Weak jobs data, sliding retail sales and rising inflation confirm Spain’s economic recovery is faltering. The official figures released Friday showed 21.3% of the workforce without a job, up from 20.3% at the end of last year.

• Friday, April 29th 2011 - 21:37 UTC

  US economy still slow says Fed; polls show Americans gloomy but optimistic

  

  The US economy is not fully recovered from its deep recession, with housing still weighing on growth, Federal Reserve Chairman Ben Bernanke said on Friday in a speech spelling out ways the US central bank has studied lower income communities.

• Friday, April 29th 2011 - 05:51 UTC

  US growth in first quarter much slower than anticipated

  

  US economic growth slowed in the first three months of 2011 to an annualised rate of 1.8%, corresponding to a 0.4% quarterly increase. This compares with a revised annual growth rate of 3.1% in the previous quarter, official figures show.

• Friday, April 29th 2011 - 05:40 UTC

  Brazilian exporters demanding a “weaker” Real to regain competitive edge

  

  The strength of the Brazilian Real against the US dollar is “very worrying” for the country's exporters, with many companies struggling with higher production costs and a reduced ability to compete in global markets, Bunge Brasil CEO Pedro Parente said Thursday.

• Friday, April 29th 2011 - 05:37 UTC

  High interest rates in Brazil for a long period, anticipates central bank

  

  The Brazilian central bank said it will raise interest rates at a slower pace for a longer period than initially planned as the country’s inflation outlook worsens, according to the minutes of its April 19-20 meeting.

• Friday, April 29th 2011 - 05:21 UTC

  Oil soars to its highest in 31 months and US dollar plunges to three year low

  

  United States crude oil futures rose Thursday to hit a 31-month high settlement after a volatile trading session while the US dollar fell to a three-year low against major currencies following on the Federal Reserve's intention to keep interest rates near zero.

• Thursday, April 28th 2011 - 18:48 UTC

  EU report quantifies losses for farmers from a trade accord with Mercosur

  

  A week before the next round of negotiations for an ambitious association and trade agreement between the European Union and Mercosur, a paper from the EU Joint Research Study centre, JRS, quantifies the alleged losses of such a deal for European farmers.

• Thursday, April 28th 2011 - 06:49 UTC

  Venezuelan industry says it’s the “worst possible moment” to join Mercosur

  

  While for the Venezuelan government Mercosur has become the main priority following its recent exit from the Community of Andean Nations, CAN, the country’s private sector claims it is the worst moment possible for such a move.

• Thursday, April 28th 2011 - 06:39 UTC

  Brazil’s bank lending slows down as government curbs credit

  

  Brazil’s bank lending expanded in March at the second-slowest pace in 13 months as the government stepped up efforts to contain demand and inflation by curbing credit to consumers.

• Thursday, April 28th 2011 - 06:35 UTC

  WTO members to openly discuss an alternative to the failing Doha round

  

  The World Trade Organization's 153 member nations will openly discuss for the first time an alternative to the failing Doha round of global trade talks, according to a report from The Wall Street Journal.