The recession in Britain was not as deep as previously feared between April and June, official figures have confirmed. UK output shrank by 0.6% during the quarter - the second upward revision to official figures since July - the Office for National Statistics (ONS) said.
The World Bank forecasts that about ten million people will join the ranks of the poor in Latin America this year as a result of the global economic slowdown, reversing social gains since 2002.
Spain's second-largest bank BBVA announced on Tuesday it was replacing its widely-respected CEO but confirmed that its powerful chairman Francisco Gonzalez was staying in place.
Latinamerica will need to borrow 400 billion US dollars next year to compensate the lack of national capital and to help reactivate its economy after the downturn, according to Pamela Cox, World Bank vice-president for Latinamerica.
Mercopress had a chance to catch up with Nate Suppaiah, founder and managing editor of Alternative Latin Investor (ALI), a bimonthly digital publication that features information on alternative investments in the LatAm region. Some of their topics include: hedge funds, forex, private equity, real estate, renewable energy, art, wine, and philanthropy.
The president of the World Bank cautioned US authorities on Monday against assuming the dollar would maintain its role as the world's reserve currency. Robert Zoellick said other currencies such as the Euro and the Chinese Yuan could win increasing acceptance in international currency markets.
The chief executive of HSBC, Michael Geoghegen, will move to Hong Kong from London as the banking group seeks to focus on Asia.
Two UK banks almost collapsed in October last year, the governor of the Bank of England has revealed. HBOS - now part of Lloyds Banking Group - and RBS were within hours of going under, Mervyn King told BBC Two's The Love of Money program.
The presidents of Argentina, Brazil, Paraguay, Uruguay, Ecuador, Bolivia and Venezuela, signed on Saturday night an agreement establishing the South Bank with an initial capital of 20 billion U.S. dollars.
The world's leading nations have agreed tough new regulations to prevent another global financial crisis, US President Barack Obama said on Friday. These relate to the amount of money banks have to hold in reserve and to excessive pay for bankers.