The world's leading nations have agreed tough new regulations to prevent another global financial crisis, US President Barack Obama said on Friday. These relate to the amount of money banks have to hold in reserve and to excessive pay for bankers.
Argentina’s Economy Minister Amado Boudou met Friday with his French counterpart, Christine Lagarde, during the G-20 summit, in order to advance in the Club of Paris negotiations over Argentina's debt, one of the government's priorities.
Mercosur junior member Paraguay’s economy again plunged in the second quarter of this year, 4.3%, compared to a year ago, almost the same percentage contraction as in the first quarter, 4.2%, according to the latest release from the country’s Central Bank.
Brazil has become Uruguay’s main trade partner and investor having taken over vital spaces of the country’s economy in its most dynamic sectors, according to different reports that have surfaced during the campaign for next month’s presidential election.
Uruguay, Chile, Costa Rica, Guatemala among nine countries remain in the so called “grey list” of tax havens from the Organization of Economic Cooperation and Development, OECD, one of the issues to be addressed by the G20 summit in Pittsburgh.
G20 is to take on an expanded role as part of a historic shift that recognises the rising influence of China, Brazil and India. The leaders of the world's top 20 wealthy and developing nations decided that the G20 will take over the role of pre-eminent council on global economic cooperation, a function that for more than three decades had been performed by a smaller club of leading industrial countries known as the G8.
Russia's largest carmaker, Avtovaz, is to cut up to 27,600 jobs as it tries to cope with the global slump in demand. The job cuts are more than a quarter of the 102,000-strong workforce at Avtovaz, which makes Lada cars.
British unions have condemned plans by car giant Jaguar Land Rover to close one of its UK plants. The firm said it would decide next year whether to shut its factory at Castle Bromwich in the West Midlands, which makes Jaguars, or its site at Solihull, which makes Range Rovers.
Britain’s Chancellor of the Exchequer Alistair Darling has warned bankers that the party is over and they must realise the world has changed. He made the comments in a BBC interview before leaving for the G20 summit in Pittsburgh.
Trouble has flared as world leaders gathered Thursday in the US city of Pittsburgh for the G20 summit. Reports said riot police used pepper gas and fired rubber bullets at protesters on a march near the venue.