Economy

• Wednesday, December 24th 2008 - 20:00 UTC

  UK economy shrank faster than expected during third quarter

  The United Kingdom economy shrank faster between July and September than had previously been thought, official data showed. The Office for National Statistics (ONS) said it had contracted by 0.6% in the quarter - its previous estimate had been a contraction of 0.5%.

• Wednesday, December 24th 2008 - 20:00 UTC

  Madonna's Sticky & Sweet nets a gross 280 million USD

  Madonna's triumphant Sticky & Sweet has ended with 2,350,282 people attending and a gross of over 280 million US dollars in ticket sales for 58 concerts. Madonna performed in Europe, United States, Canada followed by Mexico, Argentina, Chile and Brazil where her last show was on December 21.

• Wednesday, December 24th 2008 - 20:00 UTC

  Giant Wal-Mart could end up as Chile's main retailer

  The world's largest department stores chain Wal-Mart Stores, Inc. announced it will launch a tender offer to acquire all of the issued and outstanding shares and American Depositary Shares of Chile's Distribución y Servicio D&S S.A.

• Wednesday, December 24th 2008 - 20:00 UTC

  Argentina reports lowest growth in five years in October

  Argentina reported the lowest economic growth in more than five years in October as factories cut output because of waning sales and exports. The country's economic activity index expanded 5.2% in October compared to the same month a year ago and 0.1% over September.

• Wednesday, December 24th 2008 - 20:00 UTC

  Lula da Silva asks Brazilian consumers to go out and spend

  Brazilian President Lula da Silva called on consumers to step up spending to help the economy overcome the global credit crisis while assuring them that inflation will remain under control.

• Wednesday, December 24th 2008 - 20:00 UTC

  Drought in Argentina and Paraguay threatens soy crops

  South America's 2008/09 soy harvest is forecasted to drop from previous estimates because of drought in Argentina and Paraguay according to reports in the Oil World magazine.

• Wednesday, December 24th 2008 - 20:00 UTC

  Forget Mercosur, sign trade accord with EU says Brazil industry

  A leading number of Brazilian businessmen belonging to the country's powerful National Confederation of Industry, CNI, said it was time to sign a bilateral agreement with the European Union, --which would leave out Mercosur--, according to press reports in O Estado de Sao Paulo.

• Tuesday, December 23rd 2008 - 20:00 UTC

  Argentine exports suffer 6% slowdown in November

  Argentine exports in November experienced their first decrease in six years falling 6% to 5.1 billion US dollars as a direct consequence of lower commodities prices and smaller volumes of soy shipped to China. This represented a significant 7.3% drop in the month's trade surplus, 952 million USD compared to a year ago.

• Tuesday, December 23rd 2008 - 20:00 UTC

  Argentines most optimistic global citizens on 2009

  Following a year full of political events and tension, basically the several month-long conflict between the Argentine government and farmers, Argentines are among the most optimistic about 2009 according to a world public opinion poll from TNS Gallup.

• Tuesday, December 23rd 2008 - 20:00 UTC

  Champagne sales down for the first time in 20 years

  Champagne sales during the first ten months of 2008 indicate a 4.9% drop following a record 338 million bottles sold in 2007, according to France's champagne wine board, CIVC. October was particularly significant with 23% less bottles leaving France's main cellars compared to a year ago.