Economy

• Thursday, November 26th 2009 - 13:16 UTC

  General Motors confirm plans to cut 9.000 jobs across Europe

  

  Car giant General Motors has firmed up plans to cut 9,000 jobs across Europe, saying that up to 60% will be in Germany. Nick Reilly, a senior official of the US car maker, met employee representatives at a meeting in Germany to go through the firm's detailed plans for the future.

• Thursday, November 26th 2009 - 05:28 UTC

  Future algae bio-fuel production confirmed in southern Chile

  

  United States corporation Bio Architecture Lab (BAL) has founded a subsidiary, BAL Chile, through which the company has already begun cultivating 100 hectares of seaweed on the island of Chiloé, with the aim of producing bio-fuel.

• Wednesday, November 25th 2009 - 11:00 UTC

  Argentina’s recovery will lag other regional countries, forecasts Roubini

  

  Argentina's economy will lag other countries in the region, expanding between 2% and 2.5% next year and recovery will be “much slower” in the post 2008 crisis than in previous years when the country got used to rates of 6% to 7%, said economist Nouriel Roubini.

• Wednesday, November 25th 2009 - 05:06 UTC

  Bank of England emergency loans at height of crisis peaked £ 61.6 billion

  

  Emergency loans to Royal Bank of Scotland (RBS) and HBOS peaked at £61.6 billion at the height of the financial crisis, the Bank of England has said. The Bank revealed for the first time the details of its Emergency Liquidity Assistance (ELA) to both banks in a submission to the Treasury Select Committee.

• Wednesday, November 25th 2009 - 04:42 UTC

  Colombia/Ecuador re-establish trade relations after 21 months

  

  Ecuador and Colombia formally established this week ties at trade representation level, official sources said in Quito and Bogotá. The two governments announced that “full normalization” will take place when the so called “sensitive” issues have been addressed and solved.

• Wednesday, November 25th 2009 - 04:37 UTC

  Brazil plans to export 168 billion USD in 2010

  

  Brazil targets exports of 168 billion US dollars for 2010 (compared to 160 billion USD in 2009) announced Deputy Trade Minister Welber Barral during the opening of a foreign commerce forum in Rio do Janeiro.

• Tuesday, November 24th 2009 - 13:06 UTC

  Capital inflows in Brazil cause unease; G20 considers regulations

  

  Brazil does not rule out new steps to slow gains in its currency, the Real, even as the government evaluates the impact of a recently imposed tax on capital inflows, Secretary of Economic Policy Nelson Barbosa said in an interview on Monday.

• Tuesday, November 24th 2009 - 03:41 UTC

  Spain prepares to announce radical reforms while “economy begins recovery”

  

  Spanish president Jose Luis Rodríguez Zapatero said Monday that the country’s “economic recovery” has started and all indicates that the rhythm will accelerate.

• Monday, November 23rd 2009 - 11:03 UTC

  Tough guidelines to protect quality and origin of Scotch whisky

  

  New guidelines to protect whisky from foreign imitation, including new rules on labelling and bottling, are coming into force in Scotland on Monday. There will be a new requirement to only bottle Single Malts in Scotland, and tighter rules on the use of distillery names on bottle labels.

• Saturday, November 21st 2009 - 05:50 UTC

  Latinamerican poor to reach 189 million (9 million more) because of recession

  

  The current global crisis will cause the number of poor people in Latin America to rise by nine million to 189 million this year, the UN Economic Commission for Latin America and the Caribbean (CEPAL) said in a report presented in Santiago de Chile.