Economy

Saturday, April 10th 2010 - 04:55 UTC
Major US banks lowered debt levels to mask risks, claims Wall Street Journal

Major US banks temporarily lowered their debt levels just before reporting in the past five quarters, making it appear their balance sheets were less risky, the Wall Street Journal said, citing data from the Federal Reserve Bank of New York.
Saturday, April 10th 2010 - 04:49 UTC
US stocks DJ at 11.000 for the first time since September 2008

United States stocks rose Friday sending the Dow Jones Industrial Average briefly above 11,000 for the first time since September 2008, as growth in wholesale inventories added to signs the economy is strengthening.
Saturday, April 10th 2010 - 04:44 UTC
Argentina announces debt-swap and invites US corporations to invest

Argentine president Cristina Fernandez de Kirchner, CFK, speaking before the United States Chamber of Commerce confirmed that the debt-swap is to be launched between Wednesday and Thursday of next week and strongly praised Argentina’s conditions “for making business and investing”.
Saturday, April 10th 2010 - 04:42 UTC
Egypt lift restrictions on the import of Paraguayan beef

Paraguay’s Ministry of Foreign Affairs confirmed Friday Egypt had lifted the ban on Paraguayan beef exports which was imposed last December.
Saturday, April 10th 2010 - 04:40 UTC
Default “not an issue” for Greece, says ECB’s Trichet, but are markets convinced

Greek bonds and banking stocks took a massive hit on Thursday, driving the debt-stricken Euro zone member's borrowing costs to the highest level since Greece adopted the Euro currency.
Friday, April 9th 2010 - 00:52 UTC
The Uruguayan 2003 controlled default model, a way out for Greece?

The Uruguayan default model of 2003, under the auspices of the IMF, is a possible way out for the Greek situation according to Professor Reinhart (*), a world authority in sovereign defaults. The idea surfaced in an interview with the Telegraph.co.uk, Ambrose Evans-Pritchard who has covered world politics and economics for 25 years, based in Europe, the US, and Latin America.
Thursday, April 8th 2010 - 23:42 UTC
US/China hold talks on “economic relations” and global situation

US Treasury Secretary Timothy Geithner held talks Thursday in Beijing with Vice-Premier Wang Qishan. Neither the US nor Chinese officials would comment in detail on the meeting. But it is understood to be part of a long-running dispute over the value of the Chinese Yuan, which the US says has been kept artificially low.
Thursday, April 8th 2010 - 23:39 UTC
OECD votes for PM Brown and fourth Labour term

Prime Minister Gordon Brown’s bid for a fourth Labour term received a boost this week with a forecast that the UK would pull out of recession faster than many major international rivals.
Thursday, April 8th 2010 - 23:36 UTC
Euro zone interest rates at record-low 1% for eleventh month

The European Central Bank (ECB) has kept the Euro zone interest rate at its record-low level of 1% for the 11th month in a row. The decision was expected and comes as the ECB is scaling back its lending to banks aimed at stimulating the economy.
Thursday, April 8th 2010 - 22:56 UTC
Latam main ports’ containers activity contracted 6.8% in 2009

The 2009 global slowdown had an impact on the activity of the main ports of Latinamerica and the Caribbean, points out the latest release from the United Nations Economic Commission for Latinamerica and the Caribbean, Cepal.