Economy

Friday, December 12th 2008 - 20:00 UTC
Bush, Obama support emergency aid for US car industry

The outgoing George Bush administration said it may be willing to give emergency aid to the ailing US car industry, keeping open the prospects for a bailout the day after Congress failed to approve a deal.
Friday, December 12th 2008 - 20:00 UTC
WTO admits not enough consensus for world trade talks

World Trade Organization (WTO) chief Pascal Lamy has abandoned attempts to restart the world trade talks. Lamy told ambassadors in Geneva that he has decided there was not sufficient consensus among major economies to call new ministerial talks on a trade deal.
Friday, December 12th 2008 - 20:00 UTC
Ex Nasdaq chairman fraud could trigger hedge funds-run

The former chairman of the Nasdaq stock market has been arrested and charged with securities fraud, in what may be one of the biggest fraud cases yet. Bernard Madoff ran a hedge fund which ran up 50 billion US dollars of fraudulent losses and which he called “one big lie”, prosecutors allege.
Thursday, December 11th 2008 - 20:00 UTC
Obama transition team supports call for Latam free trade

United States Secretary of State Condoleezza Rice urged Latinamerica to continue fighting poverty and avoid the temptation of closing off trade. Rice said on Wednesday countries should not “repeat the mistakes of the Great Depression when nations deepened that crisis by turning inward”.
Thursday, December 11th 2008 - 20:00 UTC
German economy forecasted to contract 2.2% next year

Germany's Munich based Ifo (Institute for Economic Research) expects the German economy to contract 2.2% in 2009 and continue falling into the following year, according to a forecast published on Thursday.
Thursday, December 11th 2008 - 20:00 UTC
Argentine Lower House approves tax moratorium

The Lower House of Argentina approved early Thursday a controversial bill that would establish a moratorium on unpaid taxes and give tax opportunities to Argentines who repatriate money and assets held overseas.
Thursday, December 11th 2008 - 20:00 UTC
LAN reported traffic increase of 9.9% during November

LAN Chile and related companies, one of the leading airline groups in Latin America reported a passenger traffic increase of 9.9% in November, according to preliminary monthly traffic statistics and punctuality indicators.
Thursday, December 11th 2008 - 20:00 UTC
Brazil launches tax-cut and credit stimulus plan

Brazil's government will cut taxes by 8.4 billion Real (approximately 3.6 billion USD) to prop the slowing economy and meet a 4% growth target in 2009 next year, Finance Minister Guido Mantega and Central Bank president Henrique Meirelles announced Thursday in Brasilia.
Thursday, December 11th 2008 - 20:00 UTC
Brazil demands leadership from Obama on trade

Brazil said on Thursday that global trade talks need a strong signal from US President-elect Barack Obama to save them from failure. Brazilian Minister Celso Amorim made the announcement after meeting with World Trade Organization Director General Pascal Lamy in Geneva.
Thursday, December 11th 2008 - 20:00 UTC
Bribes and business: Russia and China set the pace

Companies from emerging economies such as Russia and China are more likely to pay bribes when doing business in other countries, a survey claims.