Economy

Friday, September 18th 2009 - 11:32 UTC
Brazil’s JBS moves into the US poultry market and consolidates at home

Brazil's JBS, the world's biggest beef producer, agreed this week to buy a controlling take in bankrupt US poultry producer Pilgrim's Pride and JBS' Brazilian beef rival Bertin.
Friday, September 18th 2009 - 11:29 UTC
Argentina plans to reach agreement with “holdouts” and Paris Club

Argentina plans to reach an agreement with holders of the country's defaulted debt in an effort to return to international lending markets, according to a draft of the 2010 budget submitted to Congress this week.
Friday, September 18th 2009 - 11:04 UTC
US interested in promoting bilateral trade with Brazil, in spite of Mercosur

United States Trade Representative Ron Kirk said on Thursday the administration of President Barack Obama was interested in promoting a bilateral trade agreement with Brazil, even when it could mean bypassing Mercosur.
Friday, September 18th 2009 - 10:54 UTC
Petrobras to concentrate all investments in pre-salt deposits

Brazilian government managed oil and gas company Petrobras will freeze overseas investments as the company concentrates on its primary role to develop recently discovered offshore oil reserves, CEO Jose Sergio Gabrielli said Thursday.
Friday, September 18th 2009 - 03:44 UTC
Brazil is not “a Venezuela that goes shopping in the world’s arms supermarkets”

Defence minister Nelson Jobim said that Brazil “is not a Venezuela that goes around shopping in the world’s arms supermarkets”. Brazil targets policy on technical training and technology transfer so “we can develop a sound, autonomous defence industry”, underlined the top official from President Lula da Silva administration.
Friday, September 18th 2009 - 03:40 UTC
Gibraltar/Spain open border policy explains economic surge in the region

Gibraltar makes an extensive contribution to the economy of neighbouring Campo de Gibraltar while it also benefits significantly from Spanish expenditure on the Rock, according to the main conclusions of an economic study published this week.
Friday, September 18th 2009 - 03:36 UTC
Ex-Barclays bankers stand to make 400 million USD for managing toxic assets

A group of 45 bankers at Britain’s Barclays bypassed potential curbs on pay and bonuses by jumping ship to set up a Cayman Islands company and manage 12.3 billion US dollars of Barclays’ most toxic debt. They will be paid at least 400 million USD over ten years.
Thursday, September 17th 2009 - 13:32 UTC
Chilean dairy farmers call for protection from Argentine imports

Chilean dairy farmers requested President Michelle Bachelet to speed the implementation of the provisional safeguard clause to help contain the import of Argentine powder milk and cheese. The safeguard clause means imposing a 31% tariff on dairy imports.
Thursday, September 17th 2009 - 13:23 UTC
OECD warns of 25 million jobless in industrialized countries

The Organisation for Economic Co-operation and Development (OECD) says the global recession could cost 25 million people their jobs. This is despite recent signs that economies of its 30 member countries may be starting to recover.
Thursday, September 17th 2009 - 13:19 UTC
US/China “tit for tat” tires’ trade clash sounds alarm bell in WTO

World Trade Organization Director General Pascal Lamy expressed concern Wednesday about the latest move from the US President Obama administration to restrict imports of Chinese-made tires.