Inflation in the Euro zone accelerated to its pace in more than 16 years in July, 4.1% from 4% in June, according to the European Union statistics office in Luxembourg. A separate report showed unemployment was 7.3% in June.
Mercosur must do its utmost to find a common position and talk as an only voice said Brazil's Foreign Affairs minister Celso Amorim following the aftermath of the recent Doha round effort in Geneva where Brazil and Argentina stood on different sides.
Compared with this time last year, Chile-based LAN Airlines has seen a 7.4% increase in profits – despite the rising cost of gas, which accounts for 36% of the company's overall costs.
The Argentine government is re-drafting modifications to the grains and oilseeds exports tax system with the purpose of raising the levy on soy but reducing it for wheat and corn, according to reports in the Buenos Aires media.
Brazilian aircraft manufacturer Embraer this week that profits more than doubled in the second quarter, driven by strong sales of midsize commercial jets and the company's new, popular executive jets.
United States President George W. Bush signed Wednesday into law a bill designed to help struggling homeowners and prop up the battered US housing market. The new law creates a 300 billion US dollars rescue fund to help thousands of homeowners get cheaper loans.
New York governor David Paterson admitted the state economy was in recession and announced spending cuts to face a steep budget deficit due to declining tax revenues. Paterson said that he would ask the legislature to approve another 600 million US dollars cut in an emergency session.
Argentine construction activity fell the most in more than four years last month as faster inflation and a farmers strike threatened to undermine a five year running expansion of the economy.
Ecuador, the world's top banana exporter, said it will insist that the European Union stick to a deal to slash import tariffs on bananas despite the collapse of world trade talks on Tuesday in Geneva.
During the second quarter of this year, an estimated 8.5 billion US dollars left Argentina, double the worst quarter in 2007 and higher than the most negative of private forecasts, according to the latest information from the Argentine Central Bank.