Economy

Friday, February 4th 2011 - 22:22 UTC
Brazil’s industrial output fell in December for second month running

Brazil’s industrial output unexpectedly fell for a second straight month in December. Output in December fell 0.7% from November after a 0.2% decline in the previous month, the national statistics agency IBGE said this week.
Friday, February 4th 2011 - 21:53 UTC
Argentina still haunted by the holdouts from the 2001 default

Argentina’s attempts to return to global credit markets nine years after its 2001/02 default received this week mixed results. New York Federal Judge Thomas Griesa has issued a ruling urging Argentina to pay 54.33 million Euros (US$75.1 million) to the Capital Ventures International Fund.
Friday, February 4th 2011 - 21:21 UTC
Rousseff and Obama to discuss ways to counteract China’s undervalued Yuan

Brazilian President Dilma Rousseff will discuss with her U.S. counterpart Barack Obama ways to counteract the threat posed by an undervalued Yuan and cheap imports from China, a Brazilian official said.
Friday, February 4th 2011 - 21:17 UTC
US recovery still needs help for stronger job creation, says Bernanke

The US economic recovery still needs help from the Federal Reserve despite signs of improvement, the central bank's chairman Ben Bernanke said.
Friday, February 4th 2011 - 21:07 UTC
France and FAO call for greater regulation to curb commodities speculation

France and the U.N. food agency FAO warned on Friday about the risk of a new global food crisis and ensuing riots, calling for greater regulation to curb speculation on commodities markets.
Friday, February 4th 2011 - 21:02 UTC
EU top official visits Uruguay/Paraguay to advance trade talks with Mercosur

The European Union Trade Commissioner Karel De Gucht will travel next week to Paraguay and Uruguay to reinforce bilateral relations and to advance on the ongoing EU/Mercosur negotiations to reach an overall trade and cooperation agreement.
Thursday, February 3rd 2011 - 22:53 UTC
Copper hits a record price of 10.000 US dollars per ton and could keep soaring

Copper hit a record price of 10,000 USD per ton on Thursday on the back of growing worldwide economic optimism and concerns about the impact of an Australian cyclone on stretched global supplies.
Thursday, February 3rd 2011 - 22:02 UTC
UN forecasts period of “food volatility and supply disruptions”

The world is going into a period of food volatility and supply disruptions due in part to weather related problems and a backdrop of rising prices, the UN World Food Program's executive director said.
Thursday, February 3rd 2011 - 21:56 UTC
Santander, Euro zone largest bank helped by solid results in UK and Brazil

The collapse of the Spanish property prices helped pull annual profit down 8.5% at the Euro zone largest bank Santander. Solid results from Brazil and Britain, which each account for more profit than Spain at the diversified bank, failed to calm fears about exposure to a stagnant domestic economy, struggling to shake off the worst recession in half a century.
Thursday, February 3rd 2011 - 21:54 UTC
Brazilian industry loosing world market share to main trading partner, China

Competition with top trading partner China is costing Brazilian industry valuable market share, the National Confederation of Industry (CNI) in South America's largest economy said on Thursday.