Economy

Friday, April 23rd 2010 - 07:00 UTC
Obama attacks critics of banking reforms to end “reckless practices”

US President Barack Obama has attacked critics of his banking reforms in a speech which warned that without change the financial crisis will be repeated. Reckless practices and financial firms that acted like “bandits” should never be allowed to operate again, he said.
Friday, April 23rd 2010 - 06:52 UTC
China-Argentina trade differences increase and are openly aired

Production Minister Débora Giorgi came out to stage on Thursday to support Argentina's trading policies after comments made by China's Vice Minister of Commerce JIang Yaoping, who claimed the Argentine Government is increasingly promoting trade protectionism against Chinese products.
Friday, April 23rd 2010 - 03:21 UTC
Brazil forecasted to grow 5.5% in 2010 boosted by domestic demand, says IMF

Brazil, Latinamerica’s largest economy and leading Mercosur partner is poised to grow 5.5% this year, almost a whole percentage point more than the previous forecast in January, according to the International Monetary Fund “World Economic Outlook” released in anticipation of the IMF and World Bank annual assembly this weekend in Washington.
Friday, April 23rd 2010 - 02:45 UTC
UK record borrowing in 2009/10 to cover biggest budget deficit since WW2

UK Primer Minister Gordon Brown’s government borrowed a record £163.4 billion in the 2009/2010 financial year, according to figures published Thursday. While it is the biggest budget deficit since the Second World War, the figure is lower than Chancellor Alistair Darling’s prediction in the budget of £166.5 billion for the year.
Friday, April 23rd 2010 - 01:26 UTC
Latam growingly dependent on Chinese demand for commodities

Latinamerican countries with a greater link to China such as Chile, Brazil and Peru are moving out of the crisis faster and stronger according to a World Bank report which underlines the increasing significance of the Asian giant for the region.
Thursday, April 22nd 2010 - 02:57 UTC
Latam and Caribbean recovering at a “robust pace” says IMF

Latin America and the Caribbean have “weathered the global downturn comparatively well” and are now recovering at a “robust pace,” the International Monetary Fund (IMF) said Wednesday.
Thursday, April 22nd 2010 - 02:43 UTC
General Motors repay 8.1 billion to US and Canadian governments

General Motors repaid Wednesday 8.1 billion US dollars in government loans, five years ahead of schedule and nine months after the troubled auto giant declared bankruptcy, signalling that the auto maker may be on the path to profitability.
Thursday, April 22nd 2010 - 00:34 UTC
Banco do Brasil buys 51% of Argentina’s fourth largest private bank

Brazilian government controlled Banco do Brasil will pay 480 million US dollars for a 51% stake in Banco Patagonia, Argentina’s fourth largest private bank. The deal is pending regulatory approval both banks said in a release.
Wednesday, April 21st 2010 - 17:08 UTC
UK unemployed reach 2.5 million in February, highest since 1994

The number of people unemployed in the UK rose by 43,000 to 2.5 million during the three months to February, official figures have shown. The jobless total is now at its highest since 1994.
Wednesday, April 21st 2010 - 16:48 UTC
Ash-cloud cost airlines 1.7 billion; IATA calls for government compensation

The International Air Transport Association (IATA) estimated that the Icelandic volcano crisis cost airlines more than 1.7 billion US dollars in lost revenue through Tuesday—six days after the initial eruption. For a three-day period (17-19 April), when disruptions were greatest, lost revenues reached 400 million USD per day.