Brazil's central bank reiterated Wednesday its clear commitment to raise interest rates soon, as the outlook for inflation has become “far less favorable” than it had previously thought.
Soybean growers in Brazil, the world’s largest producer after the U.S., may harvest more of the oilseeds next year than the government estimated earlier this month, Agriculture Minister Wagner Rossi said on Wednesday.
Oil World has for a second time in two weeks reduced Argentina soybean crop hopes warning that, thanks to dry weather, it could be on course for a fall of more than 20%.
New York prosecutors sued Ernst & Young, accusing the accounting firm of helping to hide Lehman Brothers Holdings Inc's financial problems, the first major government legal action stemming from the Wall Street bank's 2008 downfall.
Portugal was put on notice that its credit rating could be cut and fellow Euro zone debtor Spain had to pay more to issue new debt, suggesting the currency bloc's crisis will rage unabated in 2011.
Spain is slowly emerging from recession but needs to cut spending further and introduce labour market reforms, the Organisation for Economic Co-operation and Development (OECD) has said.
Chile's government wants to make state-owned oil and gas company Empresa Nacional del Petroleo SA, (ENAP) economically viable through a management overhaul and streamlining of production.
Following the 30% expansion in 2010, Brazilian exports are forecasted to grow 12%, in 2011 according to Foreign Trade Secretary Weber Barral. He added that in 2010 the recovery was quite strong compared to the downturn of 2009, but in 2011 global trade growth rate is expected to slow down.
Toyota, the largest car-maker in the world is forecasting a 2% rise in global production across Toyota, Daihatsu and Hino models to 8.69 million units, compared to this year’s expected global output of 8.55 million units. Overseas production next year is expected to rise 6% to 4.81 million units, offsetting a 4% drop in domestic output to 3.89 million units.
Latin America and the Caribbean experienced rapid employment recovery in 2010 to pre-crisis levels, according to data provided by the International Labour Organisation (ILO). However, the quality of jobs now being offered to those made jobless in the contracted worldwide recession over the past two years is fast becoming a problem in itself.