Economy

• Tuesday, October 27th 2009 - 09:18 UTC

  Brazil Marfrig food company turns a profit in the third quarter

  

  Brazilian food company Marfrig Alimentos, with strong interests in Uruguay and Argentina turned a profit in the third quarter of this year compared to a year ago, as new acquisitions boosted its capacity.

• Tuesday, October 27th 2009 - 09:15 UTC

  US largest commercial real-estate lender files for bankruptcy protection

  

  Capmark Financial Group Inc., one of the largest commercial real-estate lenders in the United States announced that it had filed for bankruptcy protection. The firm said it has filed motions to allow it to continue to pay vendors and salaries, and that the move “should not impact the way Capmark does business with its customers and partners.”

• Tuesday, October 27th 2009 - 07:46 UTC

  China launches stock market to help finance new industries

  

  China is launching its long-awaited Nasdaq-style stock market in the southern city of Shenzhen. Twenty eight small- and medium-sized enterprises are expected to debut on the new exchange.

• Monday, October 26th 2009 - 12:45 UTC

  Chilean fresh fruit exporters suing government for overcharges

  

  In early November a Chilean court will rule on a 108 million US dollars lawsuit brought by 126 Chilean fresh fruit export companies against the nation’s Agriculture and Livestock Service (SAG) agency.

• Monday, October 26th 2009 - 10:06 UTC

  Revenue hungry Argentine government tightens fiscal measures

  

  The Argentine government announced a package of fiscal control measures on Thursday, including the use of electronic bills for sales of imported goods, second-hand car sales and hotel operations.

• Saturday, October 24th 2009 - 16:56 UTC

  UK suffering the longest recession since records began

  

  The UK is now in the grip of the longest recession since records began, according to gloomy official figures. Hopes for an end to the recession were scuppered as the economy shrank by a shock 0.4% between July and September - a record sixth quarter in a row of decline.

• Saturday, October 24th 2009 - 16:50 UTC

  Rich Germans want to pay higher taxes to help with recovery

  

  A group of rich Germans has launched a petition calling for the government to make wealthy people pay higher taxes. The group says they have more money than they need, and the extra revenue could fund economic and social programmes to aid Germany's economic recovery.

• Saturday, October 24th 2009 - 16:39 UTC

  Wave of bankruptcies in the US still has not peaked

  

  With the bankruptcy of Partners Bank, from Florida, and American United Bank, from Georgia, there are now 101 banks in the United States that have declared insolvency so far in 2009 due to the financial crisis, local media sources informed.

• Saturday, October 24th 2009 - 16:32 UTC

  Spain’s unemployment remains unchanged at record high

  

  Spain’s unemployment rate stood at 17.93% in the third quarter, or virtually unchanged from the previous three-month period, the National Statistics Institute, or INE, said.

• Saturday, October 24th 2009 - 06:10 UTC

  European Parliament votes 300 million Euro support for dairy farmers

  

  The European Parliament voted to provide €300 million for a fund to help dairy farmers. Earlier in the week EU Farm Commissioner Fischer Boel had proposed a 280 million Euros support. The decision follows weeks of protests by thousands of farmers over the low price of milk, including the spraying of milk onto fields.