Economy

Saturday, July 16th 2011 - 06:58 UTC
Eight out of 90 banks in Europe fail stress-test, five of them from Spain

Eight banks have failed Europe's bank stress test designed to assess whether they can weather another economic crisis while 16 banks barely passed, bank regulators said on Friday.
Friday, July 15th 2011 - 16:33 UTC
US June consumer prices fell 0.2%, but growing fears of core inflation

The cost of living in the United States fell in June, as a sharp drop in energy cost offset other price rises. Consumer prices fell 0.2%, their first monthly fall in a year; excluding energy and food, prices rose slightly. The annual inflation rate was 3.6%.
Friday, July 15th 2011 - 16:31 UTC
Plan to support Brazilian industry from foreign protectionism to be announced August 2

Brazil’s president Dilma Rousseff announced Thursday night the launching of a new plan aimed to boost and protect Brazilian industry against international competition and at the same called for a technological development leap forward.
Friday, July 15th 2011 - 06:25 UTC
Argentina denies restrictions in trade with Brazil; admits ‘logical differences’

Argentina’s trade relation with Brazil does not have restrictions and “it’s understandable that some differences surface” when bilateral trade will be reaching over 40 billion dollars this year, said Argentine Industry Ministry sources in Buenos Aires.
Friday, July 15th 2011 - 06:21 UTC
Argentines would like to buy at “official” inflation and be paid in real inflation

According to Argentina’s statistics office Indec consumer inflation was 0.7% pushed mostly by the cost of clothing. However private economic consulting offices estimate the index was double the official announcement.
Friday, July 15th 2011 - 06:13 UTC
Argentine central bank purchases 500m dollars to stop appreciation of the Peso

The Argentine Central bank has purchased so far this week 500 million US dollars to ensure that the country’s exporters retain a favourable exchange rate and importers are not that tempted to buy foreign goods.
Friday, July 15th 2011 - 06:09 UTC
“Grain prices are more linked to the US dollar than to food demand”

“Saving in US dollars or in soybeans is the same” cautioned Argentine economist Carlos Melconian, who argued that “grain and oilseed prices are more linked to the value of the dollar than to demand for food produce”.
Friday, July 15th 2011 - 06:04 UTC
China forecasted to become Latin America’s second trade partner by 2015

China will become Latin America's second largest trade partner as early as in 2015, the UN Economic Commission for Latin America and the Caribbean (ECLAC) said this week.
Friday, July 15th 2011 - 05:54 UTC
Italian parliament does its homework and approves sweeping austerity budget

Italy's upper house of parliament has agreed to a sweeping austerity budget in a move intended to allay concerns over a possible bailout. Meanwhile, Greece must come to terms with another ratings downgrade.
Friday, July 15th 2011 - 02:08 UTC
S&P warns of a “one in two” chance of downgrading US debt rating

Standard & Poor's has become the latest ratings agency to issue a warning of a possible downgrade to the US's debt rating. It said there was a “one-in-two” chance that it may cut the US's AAA rating if a deal to raise the government's debt ceiling is not agreed upon soon