Economy

• Wednesday, March 3rd 2010 - 06:23 UTC

  Ford Motor becomes tops US sales ahead of GM and Toyota

  

  Ford Motor overtook rival General Motors in US sales on Tuesday as Toyota faltered amid a series of mass recalls and a congressional investigation into its safety standards. Toyota reported an 8.7% drop in February US sales to 100,027 vehicles, while the overall industry was expected to perform significantly better than depressed year-ago levels.

• Wednesday, March 3rd 2010 - 06:04 UTC

  Real Madrid and Barcelona the world’s richest soccer teams

  

  According to this year’s “Football Money League” report from Deloitte, some soccer clubs — such as British teams Arsenal and Chelsea, specifically — are falling down on the job when it comes to pricing their exposure with sponsors. The annual report ranks and analyzes international teams by their revenues, and breaks out sponsorship and advertising income.

• Tuesday, March 2nd 2010 - 04:44 UTC

  EU demands more efforts from Greece to reduce deficit

  

  The European Union top finance chief said Monday that the Euro-zone is prepared to take concerted action to support Greece, but he emphasized that Greece needs to make more of an effort to reduce its deficit.

• Monday, March 1st 2010 - 06:00 UTC

  Uruguay aims to reduce debt load and boost trade in next five years

  

  Uruguay’s Vice President-elect Danilo Astori said the next government will reduce the country’s debt load and seek to boost trade with the rest of the world in a bid to bolster economic growth.

• Monday, March 1st 2010 - 05:52 UTC

  Euro’s most crucial week since creation; Greece closer to an IMF rescue

  

  German Chancellor Angela Merkel warned Sunday that the Euro is facing its most serious crisis since its launch a decade ago. The comment comes as European Union officials prepare to visit Athens Monday amid reports of an EU bailout whose effects could lead to further debt crises in the continent's troubled south.

• Monday, March 1st 2010 - 05:30 UTC

  Copper prices expected to climb given uncertainty of Chilean supply

  

  Copper is likely to climb when trading starts on Monday, lifted by uncertainty over supply after the world's top copper producer Chile suffered a massive earthquake, analysts said over the weekend.

• Monday, March 1st 2010 - 05:24 UTC

  If Mercosur is failing, “we are doing something wrong”, said Mujica

  

  Uruguay’s president elect Jose Mujica who takes office Monday March first admitted that Mercosur is “failing” because “we are doing something wrong”, but was enthusiastic about Latinamerican integration and praised Argentina, a country where “Uruguayans are not foreigners”.

• Saturday, February 27th 2010 - 08:16 UTC

  Brazilian central bank prepares to withdraw stimulus measures and liquidity

  

  The Brazilian Central bank’s decision to raise reserve requirements this week will have an impact on monetary policy, admitted the bank’s governor Henrique Meirelles in an interview with the financial publication Valor Economico.

• Saturday, February 27th 2010 - 08:07 UTC

  Positive surprise from the UK economy in the fourth quarter

  

  The United Kingdom economy grew at a greater rate than previously thought in the final three months of 2009, official figures have shown. The Office for National Statistics revised its figure for fourth quarter GDP to show 0.3% growth - up from its previous estimate of 0.1%.

• Saturday, February 27th 2010 - 07:46 UTC

  US economy signals swift pace of recovery; consumer confidence remains tepid

  

  The US economy grew at an annualised rate of 5.9% in the last three months of 2009, revised official figures have shown. The rate is higher than the first estimate of 5.7%.
  The figures confirm the world's largest economy is emerging rapidly from recession.