Economy

• Sunday, June 21st 2009 - 11:28 UTC

  FAO forecasts second-highest record cereals crop for 2009/10

  

  With the second-highest recorded cereals crop expected this year and stocks replenished, the world food supply looks less vulnerable to shocks than it was during last year’s food crisis, FAO said in its Food Outlook report published this month. But some potential dangers remain, it also noted.

• Sunday, June 21st 2009 - 11:26 UTC

  Uruguayan farmers fearful of consolidation in meat sector

  

  The possible merger between the leading Brazilian meat groups, Marfrig and JBS Bertin could create the largest corporation in the world and among other things dominate over 30% of the Uruguayan cattle demand market.

• Saturday, June 20th 2009 - 16:31 UTC

  Argentina’s trade surplus surges 139% in May but imports plunge 49%

  

  Argentina's May trade surplus soared 139% from a year ago to 2.48 billion US dollars because of a sharp drop in imports as the economy slows, the government said on Friday.

• Saturday, June 20th 2009 - 08:19 UTC

  Dim lights of hope for the British auto industry

  

  Britain’s Business Secretary Lord Mandelson said the US government has given a “positive response” to his case for continued General Motors production in the UK.

• Saturday, June 20th 2009 - 08:15 UTC

  Switzerland struggling not to be listed “likely tax haven”

  

  Switzerland has agreed a new bilateral framework on sharing tax information with the United States, as it continues to ease its once strict banking secrecy. In March, the Swiss government announced that it would start to abide by the current global standards on sharing bank data.

• Friday, June 19th 2009 - 14:07 UTC

  Four million live in poverty in metropolitan Buenos Aires

  

  An estimated four million Argentines live in poverty in metropolitan Buenos Aires of which 1.2 million are described as indigent, which means they don’t have minimum resources to purchase the basic food basket according to a survey from SEL Consultores released this week.

• Thursday, June 18th 2009 - 14:50 UTC

  US unveils major banking shake-up since the 1930s

  

  The US government has announced a major reform of banking regulation to prevent future financial crises. The overhaul will require big banks to put more money aside against future losses to curb excessive risk taking.

• Wednesday, June 17th 2009 - 12:08 UTC

  BRIC leaders call for a “more diversified” currency system

  

  The leaders of Brazil, Russia, India and China -- the BRIC nations -- called for a “more diversified” currency system and a new global order after holding their first summit amid growing talk over the US dollar future as the global reserve unit.

• Wednesday, June 17th 2009 - 06:53 UTC

  British Airways battling for survival calls on staff to work for nothing

  

  British Airways, which reported a record annual loss last month, said it had asked its staff to work for free as part of the company's battle for “survival” in tough market conditions.

• Wednesday, June 17th 2009 - 05:20 UTC

  After 18 quarters of growth Uruguay technically in recession

  

  Contrary to government forecasts the Uruguayan economy plunged 2.9% in the first quarter of this year putting an end to 18 uninterrupted quarters of sustained growth. Although government officials downplayed the impact of the retraction, private analysts said this signals the beginning of a recession period in line with what is happening globally.