Economy

• Wednesday, October 13th 2010 - 00:54 UTC

  August OECD unemployment slightly down to 8.5%; in Spain, 20.5%

  

  As many as 45.5 million people were without job in August in the Organisation for Economic Cooperation and Development (OECD) region, reflecting sluggish labour market conditions in mostly developed nations.

• Wednesday, October 13th 2010 - 00:50 UTC

  Home repossession in US a political “hot potato”; 1.2 million forecasted in 2010

  

  The White House has ruled out a temporary ban on the repossession of homes, despite a growing row over alleged malpractice. Some US banks have already imposed their own moratorium on foreclosures while they investigate possible legal flaws in the eviction process.

• Wednesday, October 13th 2010 - 00:46 UTC

  Japan announces new stimulus plan and measures to weaken the Yen

  

  The Japanese cabinet has approved a plan to pump more than 60 billion US dollars into the country's struggling economy. The aim of the plan - which still needs approval from parliament - is to boost growth, jobs and spending.

• Tuesday, October 12th 2010 - 07:00 UTC

  Brazilian economy larger than Italy’s next year, according to IMF estimates

  

  Brazil's economy will likely be larger than that of Italy next year, according to the latest data from the International Monetary Fund (IMF).

• Tuesday, October 12th 2010 - 06:59 UTC

  China resumes purchases of Argentine soy beans banned since April

  

  China’s two largest state-owned grains and oilseeds trading companies to import soybean oil from Argentina, easing restrictions imposed in April. Beijing-based Cofco Ltd., China’s biggest grain trader, and China Grain Reserves Corp. have been cleared by the commerce ministry to import soybean oil from Argentina.

• Tuesday, October 12th 2010 - 06:55 UTC

  Nobel Economics Prize for experts in labour market and jobs

  

  US born Peter Diamond and Dale Mortensen, and British-Cypriot Christopher Pissarides, have won the 2010 Nobel economics prize. They were honoured for work on how unemployment, job vacancies and wages are affected by regulation and policy.

• Tuesday, October 12th 2010 - 06:36 UTC

  UN corn and soybean futures resumed rally on Monday

  

  United States corn and soybean futures resumed their rally Monday as a surprising government crop report from last week continued to drive concerns over supplies.

• Tuesday, October 12th 2010 - 00:48 UTC

  Brazilian auto production up but exports threatened by the strong Real

  

  Automobile production in Brazil is forecasted to grow 13.1% this year, more than the 6.5% expansion predicted previously according to the national automakers' association Anfavea. Output will probably end the year at 3.62 million units, Anfavea said.

• Tuesday, October 12th 2010 - 00:31 UTC

  EU/Mercosur talks in Brussels to outline ‘work scheme’ for trade accord

  

  The European Union and the Mercosur trade bloc resumed on Monday a new round of talks in Brussels aimed at reaching free trade agreement in the near future after years of no talks. In the immediate the blocs are seeking to outline a “work scheme” that could be kicked off in December.

• Saturday, October 9th 2010 - 05:14 UTC

  Saudi business delegation visits Uruguay interested in secure reliable food sources

  

  A delegation of Saudi agro-business entrepreneurs headed by the Agriculture minister (and member of the royal family) visited Uruguay with the purpose of establishing a fluid trade exchange and on the long term a strategic alliance.