Economy

• Saturday, October 17th 2009 - 10:27 UTC

  US criticizes China’s Yuan “rigidity” and reserves accumulation

  

  The US Treasury has criticised China for what it described as the lack of flexibility of the Chinese currency, the Yuan. It also criticised the rapid build-up of China's foreign exchange reserves in a report to the US Congress.

• Saturday, October 17th 2009 - 10:26 UTC

  UK Revenue looking into tax affaire of 27 Members of Parliament

  

  The tax affairs of 27 British Members of Parliament are being investigated following inspections of their taxpayer-funded expenses payouts, it has emerged. It follows a warning from the head of HM Revenue and Customs Dave Hartnett in July that politicians would be placed under increased scrutiny in the wake of the exposure of their claims.

• Saturday, October 17th 2009 - 05:29 UTC

  Geithner committed to keep the US dollar as a reserve currency

  

  United States Treasury Secretary Timothy Geithner said the dollar's role as a reserve currency carries special responsibilities, including the need to control inflation and get the nation's finances in order. In an interview on CNBC television, Geithner was asked about the dollar's recent decline and what the Treasury was doing to guard its value.

• Friday, October 16th 2009 - 06:35 UTC

  Chileans are all work and no play; best lifestyle Australia

  

  Chileans are all work and no play, according a new study that suggests outsiders view the country as a good place for business but not for letting their hair down.

• Friday, October 16th 2009 - 05:25 UTC

  Argentine wheat crop, and export surplus, lowest of 32 harvests

  

  With the lowest wheat area in 111 years, Argentina expects a 2009/10 crop of 7.5 million tons, the worst in the last 32 seasons, which means exports, --and tax revenue--, will be ten times less than the 2007/08 crop according to the Argentine Rural Society Economics Department.

• Thursday, October 15th 2009 - 23:47 UTC

  The vexing puzzle of Argentina, according to the Financial Times

  

  An editorial comment from the Financial Times October 14th edition, “In a tango of debt” gives a good idea of what world markets think and feel about Argentina.

• Thursday, October 15th 2009 - 12:10 UTC

  Brazil’s JBS en route to become world’s largest meat company

  

  Brazil's JBS said on Wednesday the US Justice Department has approved the takeover of US-based Pilgrim's Pride paving the way for JBS to become the world's largest meat company.

• Thursday, October 15th 2009 - 12:03 UTC

  Dow Jones closest at its highest since October 2008: 10.015

  

  The Dow Jones Industrial Average has topped the 10,000 mark for the first time in a year. World markets were boosted by the news that US bank JP Morgan Chase reported a better-than-expected profit in the July-to-September quarter. The Dow closed up 144.8 at 10,015.86, its highest since October 2008.

• Thursday, October 15th 2009 - 11:58 UTC

  Bovespa index at new high, having advanced 76% so far this year

  

  Brazil's Bovespa stocks index and currency, the Real, extended recent rallies Wednesday to end at fresh highs not seen in more than a year. The main Sao Paulo stocks index ended 2.4% higher at a 16-month high of 66,201 points.

• Thursday, October 15th 2009 - 11:55 UTC

  Argentina’s annual inflation estimated by private consultants in 14%

  

  Argentine inflation was 0.7% in September according to the official controversial Statistics office, Indec. The figure released Wednesday as has been happening for years was disputed by private consultants that estimate an average between 0´9% and 1.3%.