Economy

Thursday, September 1st 2011 - 05:38 UTC
Argentina’s big business warms up to CFK: confrontation is ‘pointless’

Big business in Argentina agreed to prolong the current ‘truce’ with the government of President Cristina Fernandez but called for more investment and improved competitiveness with more accessible financing, besides a return to the international voluntary credit market and an agreement with the Club of Paris.
Thursday, September 1st 2011 - 05:29 UTC
Two major Arctic Ocean shipping routes open simultaneously as ice recedes

Two major Arctic Ocean shipping routes have opened simultaneously for only the second time since satellite observation began in the 1970s, researchers say.
Thursday, September 1st 2011 - 02:45 UTC
Brazil unexpectedly cuts interest rate to 12% on risks of EU and US recession

Brazil’s central bank on Wednesday unexpectedly cut interest rates as the risk of recession in Europe and the US shifted policy makers’ focus away from containing the fastest inflation in six years.
Thursday, September 1st 2011 - 02:40 UTC
Obama jobs’ speech before Congress request triggers political controversy

US President Barack Obama says he will announce plans to promote jobs and economic growth in a speech to Congress next week, although there is a now a dispute involving the Republican Speaker of the House of Representatives over the timing of the event.
Thursday, September 1st 2011 - 02:37 UTC
US private sector job growth slowed in August for second month running

The pace of US private sector job growth slowed in August for the second month in a row with employers adding 91,000 positions, a report by a payrolls’ processor showed Wednesday.
Thursday, September 1st 2011 - 01:13 UTC
S&P upgrades Paraguay’s rating on greater revenue from the Itaipú dam

Standard & Poor's ratings services upgraded Mercosur member Paraguay's credit status a notch after the country reached an agreement with neighboring Brazil to take more revenue from the shared Itaipú hydroelectric complex, the world’s largest operational dam.
Wednesday, August 31st 2011 - 21:29 UTC
Controversy over US highest paid CEOs and taxes paid by their companies

The 25 highest paid US chief executives earned more last year than their companies paid in federal income tax, a study has said. The average annual remuneration of the 25 bosses was 16.7 million dollars, the left leaning think tank Institute for Policy Studies (IPS) found.
Wednesday, August 31st 2011 - 21:24 UTC
Merkel bets she can convince ruling coalition sceptics to further support the Euro

German Chancellor Angela Merkel's cabinet approved Wednesday new powers for the Euro zone's bailout fund, kicking off a month-long battle to convince sceptics in her conservative camp to back efforts to contain the bloc's crisis.
Wednesday, August 31st 2011 - 21:21 UTC
US grain farmers furious with Argentina and Canada advance in the Colombia market

Argentina has rapidly displaced the US as the main supplier to Colombia of corn and in near future wheat, with volumes soaring from 99.000 tons in 2007 to over 2.2 million tons currently, points out Agrimoney.
Wednesday, August 31st 2011 - 21:17 UTC
US consumers’ confidence plummets to lowest since April 2009 on jobs concern

The confidence of US consumers in the country’s economy fell sharply in August and reached its lowest level since April 2009, The Conference Board reported on Tuesday, attributing the decline in part to the lengthy congressional negotiations to raise the debt limit.