Economy

• Wednesday, April 15th 2009 - 05:21 UTC

  Study reveals UK cities most hit by recession unemployment

  

  Job losses during the current British recession have impacted most on large cities, mainly Birmingham, outside London, according to research. The biggest jump in total numbers of people claiming unemployment benefit were found in the North, West Midlands, Scotland, and areas linked with traditional manufacturing and heavy industry, a study by The Work Foundation found.

• Tuesday, April 14th 2009 - 13:19 UTC

  China optimistic about recovery but ready to “spend more”

  

  China's economy is showing some signs of recovery from the global financial crisis, the country's Prime Minister Wen Jiabao has said. The economy is showing “positive changes” but still faces “very big difficulties”, he said on the sidelines of Thailand's cancelled Asean summit.

• Tuesday, April 14th 2009 - 11:46 UTC

  Brazilian economists forecast worst recession since 1992

  

  Brazilian economists forecast that Latinamerica’s biggest economy will fall into the worst recession since 1992 as companies scale back output amid the first global recession since World War II.

• Monday, April 13th 2009 - 08:36 UTC

  Argentine industry calls for “non tariff barriers” against world crisis

  

  Argentina should appeal to “non tariff barriers” to protect itself from the global crisis said Hector Mendez, who this week takes over as head of the country’s largest federation of industries, Industrial Union of Argentina, after having elected to the post.

• Saturday, April 11th 2009 - 13:47 UTC

  Lula da Silva “obsessed” with reducing bank rates

  

  Brazil named Aldemir Bendine as chief executive of federally owned Banco do Brasil Aldemir Bendine seeking to boost lending in the country's financial system and lower borrowing costs. Bendine, a Banco do Brasil veteran who was previously in charge of its credit card and new retail business, succeeds Antonio Francisco de Lima Neto as CEO.

• Saturday, April 11th 2009 - 08:26 UTC

  Bi-national Patagonia Chamber is born in Punta Arenas

  

  Argentine and Chilean delegations officially launched this week in Punta Arenas, extreme south of Chile, the Bi-national Patagonia Chamber which brings together fifteen regional chambers from the regions of Aisen and Magallanes and Argentine Patagonia.

• Saturday, April 11th 2009 - 08:15 UTC

  Federal Reserve expects US recovery, but jobs market prospect dismal

  

  Minutes from the last meeting of US Federal Reserve policy makers show just how downbeat they had become on the state of the US economy. It was this pessimism that led them to agree to spend more than one trillion US dollars to revive its fortunes.

• Saturday, April 11th 2009 - 08:15 UTC

  Brazilian meatpacker begins negotiations with creditors

  

  Brazilian meatpacker Arantes Alimentos Ltda has initiated a renegotiation of debts with its creditors, company controler Aderbal Arantes Junior said in an interview Thursday with local newspaper O Estado de S. Paulo.

• Friday, April 10th 2009 - 10:32 UTC

  US February trade deficit smallest since November 1999

  

  The US trade deficit has narrowed to a new-year low in February, the seventh month in a row it has shrunk. The difference between what the US exports and imports, narrowed by 28% to 26.3 billion from January's revised 36.2 billion, becoming the smallest gap since November 1999.

• Friday, April 10th 2009 - 08:59 UTC

  Japan announces third stimulus plan …and more if needed

  

  Japan announced Thursday a record 150 billion US dollars stimulus package as it seeks to revive its flagging economy. Prime Minister Taro Aso announced the package, worth about 3% of its gross domestic product, in Tokyo after the ruling party approved the measures.