Economy

• Saturday, September 3rd 2011 - 07:40 UTC

  Argentine August inflation at 2% pushed by food prices, say private estimates

  

  A surge in fresh food prices has pushed Argentina’s August consumer inflation to one of the highest of the year, 2% over the previous month, according to private consultant estimates and published in the Buenos Aires press.

• Saturday, September 3rd 2011 - 00:46 UTC

  Brazilian economy slowing down: growth drops to an annualized 3.1%

  

  Brazil's economy expanded at a softer pace in the second quarter as a strong currency fueled a flood of cheap imports and industrial activity had its worst performance since the third quarter of 2009.

• Saturday, September 3rd 2011 - 00:44 UTC

  US government to sue 17 major banks for losses on sub-prime mortgages

  

  US authorities announced legal actions against 17 major banks for losses on mortgage-backed investments that cost taxpayers tens of billions of dollars. The Federal Housing Finance Agency said it was taking action against banks including Goldman Sachs, Barclays, Bank of America, Deutsche Bank, and HSBC.

• Friday, September 2nd 2011 - 22:26 UTC

  Argentina’s industry praises CFK calls for ‘national unity’ to achieve development

  

  Argentina’s powerful industries union, UIA, called on Friday for dialogue and ‘national unit’ in order ‘to bring together a project of development’, and forecasted that if this is achieved the country could triple its GDP in the next twelve years.

• Friday, September 2nd 2011 - 21:36 UTC

  World markets collapse on fears US economy is stalling and dismal jobs data

  

  Fears that the US economy is stalling and may be heading back into recession caused a severe slump in stock markets around the world on Friday. With European indexes already shaken by concerns with Greece and the Euro, worse-than-expected US jobs data drove investors to unload stocks.

• Friday, September 2nd 2011 - 08:35 UTC

  China appeals WTO report that it restricts exports of nine raw materials

  

  China appealed the World Trade Organization's finding in July that its export controls over raw materials including coke, zinc and magnesium violate global trading rules.

• Friday, September 2nd 2011 - 08:31 UTC

  Obama hints mix of tax cuts and infrastructure spending in next week jobs speech

  

  US President Barack Obama sharply cut estimates for US economic growth, underscoring the difficult challenge he faces in spurring a stronger recovery and creating more jobs.

• Friday, September 2nd 2011 - 08:26 UTC

  Argentina plans to lower unemployment to 5% in the next to years

  

  Argentina’s Deputy Minister of Economy, Roberto Feletti stated on Thursday that the idea of the government is to “reduce the level of unemployment to 5%” in the coming two years.

• Friday, September 2nd 2011 - 05:09 UTC

  Record foreign trade activity in Brazil; 8 month surplus equals all 2010

  

  Brazil's trade surplus grew more than expected in August as the value of exports climbed to its highest this year, outpacing strong import growth.

• Thursday, September 1st 2011 - 08:14 UTC

  Food prices inflation in Latin America increases sustainedly says FAO

  

  Annual food inflation in Latin America and the Caribbean reached 8.7% in July almost one full percentage point above the previous month according to the Food and Agriculture Organization, FAO.