Economy

• Tuesday, August 30th 2011 - 05:55 UTC

  Brazil to increase primary surplus and make room for cut in interest rates

  

  Brazil plans to further contain government spending this year to prepare the country for a global slowdown and make room for a cut in interest rates, Finance Minister Guido Mantega said on Monday.

• Tuesday, August 30th 2011 - 05:53 UTC

  Carbinero killed Chilean teenager; General, officers and several privates expelled

  

  Following trials with over 500 weapons, Chilean prosecutor Jorge Martínez confirmed that the bullet which killed 16 year old Manuel Gutierrez was fired by the Uzi sub-machinegun carried by Carbineros officer Miguel Millacura on the night of August 25 during the students' protest..

• Tuesday, August 30th 2011 - 03:56 UTC

  Nobel laureate praises Argentina; tells US and EU spending is the way out of recession

  

  United States and the European Union “are using the same recipe that the IMF applied on Argentina” to address the current global financial crisis and this only leads to “stagnation” said Nobel laureate Joseph Stiglitz attending a gathering of Nobel Prize recipients and young economists in Lindau, Germany.

• Tuesday, August 30th 2011 - 03:55 UTC

  CFK instructions for the day after: public spending cap of 20% for 2012 budget

  

  Argentina's 2012 budget bill aims to cap public spending growth at 20%, below current rates of more than 35%, as state expenditure surges ahead of the October presidential election, according to a newspaper report on Monday.

• Tuesday, August 30th 2011 - 03:54 UTC

  Argentina regulator to investigate YPF and Repsol YPF on accounting standards

  

  Argentina’s securities regulator said it will investigate the chairman and chief executive officer of YPF SA, the nation’s largest oil producer, as part of a probe into the company’s accounting.

• Tuesday, August 30th 2011 - 03:53 UTC

  Uruguay plan to regularize 676 shanty towns (200.000 people), most in Montevideo

  

  Uruguay announced it will invest 150 million dollars for the eradication of shanty towns, 90% of which are located in Montevideo, half of them in contaminated and flood-prone areas.

• Tuesday, August 30th 2011 - 03:52 UTC

  In divided ballot Japan’s ruling party chooses new PM, the sixth in five years

  

  Japanese Finance Minister Yoshihiko Noda was chosen Monday to become the sixth prime minister in five years, but he needs to overcome a divided parliament and deep rifts in the ruling party if he is to make more of a mark than his recent predecessors.

• Tuesday, August 30th 2011 - 03:48 UTC

  Obama names labour expert as White House advisor in economics

  

  US President Barack Obama announced Monday he has chosen Princeton University labour economist Alan Krueger to become the top White House economist, a White House official said.

• Tuesday, August 30th 2011 - 03:47 UTC

  New York City recovering from Irene, but Vermont ravaged by flood waters

  

  Although hurricane Irene crossed into Canada overnight Sunday but wasn't yet through with the United States, where flood waters in Vermont caused the greatest damage in 75 years and in New York state big city commuters had to make do with slowly reawakening transit systems.

• Tuesday, August 30th 2011 - 03:44 UTC

  Chilean judge investigating Carabineros over killing of student

  

  An officer from Chile’s gendarmerie-police, Carabineros was asked to resign Monday after admitting to using his firearm in the Macul borough of Santiago near where 16-year-old Manuel Gutiérrez Reinoso was shot and killed Thursday night.