Economy

• Wednesday, July 13th 2011 - 21:40 UTC

  EC checks into German government aid to car manufacturers

  

  European Commission is to examine aid paid out by the German government to car manufacturers BMW and Volkswagen. The money has been pledged to promote projects in eastern Germany.

• Wednesday, July 13th 2011 - 21:30 UTC

  South America forecasted to grow 5.1% in 2011, but with serious challenges

  

  Latin America and the Caribbean will maintain the recovery that began in the second half of 2009, following the international economic crisis and are poised to grow 4.7% in 2011 with a strong boost from domestic demand, according to the latest report from the Economic Commission for Latin America and the Caribbean.

• Wednesday, July 13th 2011 - 19:13 UTC

  In spite of slower growth, Brazil’s consumers and industrial capacity on over time

  

  Economic activity in Brazil expanded 0.17% in May over the previous month, the slowest pace this year, according to the Central Bank’s seasonally adjusted index. As direct reference growth in April was 0.44%. However the May figure is 4.25% over a year ago.

• Wednesday, July 13th 2011 - 18:55 UTC

  One bite too much for Brazil’s biggest TV dinner and frozen meat maker

  

  Brasil Foods, Brazil’s biggest maker of TV dinners and frozen meat products, won conditional approval of its 3.8 billion US dollars takeover of rival Sadia SA as Brazilian regulators ordered it to stop using a top brand and sell some assets to ensure domestic competition.

• Wednesday, July 13th 2011 - 18:49 UTC

  Europeans countries borrowing on Germany’s credit rating is over, says Dragui

  

  Europe’s debt crisis has entered a new phase and policy makers must come up with a “clear” response to stop the contagion that threatens the region’s single currency, said the European Central Bank’s incoming President Mario Draghi.

• Wednesday, July 13th 2011 - 16:59 UTC

  Support for EU beef farmers, in the event of a Mercosur deal, is “not enough”

  

  Members of the European Parliament discussing the agriculture budget said that compensation for beef farmers that could face Mercosur competition, if a trade agreement is finally reached, “is not enough” and anticipated that “we will not accept sweeteners in this area”.

• Wednesday, July 13th 2011 - 16:30 UTC

  Fed ready to inject new stimulus if US economy remains persistently weak

  

  Federal Reserve Chairman Ben Bernanke said the central bank is ready to ease monetary policy further if the economy weakens and inflation moves lower, suggesting policymakers are actively mulling further stimulus.

• Wednesday, July 13th 2011 - 16:16 UTC

  Battle for majority control of Brazil’s retail industry falls through

  

  Brazilian retail tycoon Abilio Diniz has suspended plans to merge his supermarket chain Grupo Pao de Acucar with the local arm of France's Carrefour. The move comes after the Brazilian state development bank BNDES and a private fund backed out of supporting the deal.

• Wednesday, July 13th 2011 - 10:24 UTC

  Brazil confident it can control inflation in second half and moderate capital inflow

  

  The Brazilian central bank is comfortable with its inflation forecast for 2011 despite a stronger-than-expected June reading, which spurred speculation that even higher interest rates will be necessary to keep prices in check.

• Wednesday, July 13th 2011 - 10:16 UTC

  US loosing Colombian market share to Mercosur claim farmers

  

  United States industry and agriculture lobbies are again advocating forcefully before Congress on the pending free trade agreement with Colombia claiming the delay is costing market share to a more aggressive Mercosur.