The British government was accused of deserting millions of people after official figures showed the number of households in the UK with no one over the age of 16 working has increased by 240,000 in the past year to 3.3 million.
The Argentine Central Bank helped the Treasury with 3 billion Pesos (approximately 790 million US dollars) during June to cover the gap caused by exceptional outlays because of the mid term elections.
The US budget deficit will soar to almost 1.6 trillion US dollars this year, the highest on record, both the White House and Congress have warned. Fuelled by President Obama's 787 billion stimulus package and reduced tax revenues due to the recession, it compares with a 455 billion US dollars deficit in 2008.
President Barack Obama confirmed Tuesday that he has nominated Ben Bernanke for another term as chairman of the US central bank, the Federal Reserve. The president took a break from his summer holiday to make the announcement.
Uruguayan cruise operators believe the coming season could unveil some interesting surprises in spite of the global recession. The fall in value of the US dollar compared to the strength of the Euro and Latinamerican currencies could see a drastic change in the nationality of visitors with Europeans and Latinamericans compensating the US deficit.
Container shipments are paralysed in the port of Buenos Aires due to a union conflict that is causing huge losses, the Argentine press reported.
Premier Wen Jiabao has warned that China is still facing various uncertainties ahead despite signs of economic recovery, saying the government will maintain the macro economic policies.
President Lula da Silva reaffirmed Brazil’s influence during his visit to Bolivia where he announced the opening of the Brazilian market to Bolivian textiles and extended a loan to build a leg of the bi-oceanic corridor which will eventually join Santos in the Atlantic with Iquique on the Pacific.
United States President Barack Obama's domestic policy proposals will face the reality of skyrocketing deficits on Tuesday when officials release two government reports projecting huge budget shortfalls over the next decade.
World stock markets reacted positively after US central bank chief Ben Bernanke said the world's biggest economy was nearing the start of a recovery.
The prospects for a return to growth in the near term appear good, Mr Bernanke told a conference in Wyoming.