Economy

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.
Tuesday, December 23rd 2008 - 20:00 UTC
Caterpillar slashing white-collar pay and planning job cuts

Caterpillar Inc, the world's largest maker of heavy construction and mining equipment, said Monday it is cutting white-collar pay by up to 50% and offering buyouts to as many as 25.000 US employees as it looks to cut costs during what it characterized as “uncertain times.”
Tuesday, December 23rd 2008 - 20:00 UTC
Aerolineas subsidiary in Chile files for bankruptcy protection

Air Comet Chile, a unit of Spanish group Marsans, said on Monday it had filed for bankruptcy protection, less than one week after the Argentine Senate voted to expropriate Aerolineas Argentinas, also owned by Marsans.
Monday, December 22nd 2008 - 20:00 UTC
Beijing and Taipei warm up to face financial downturn

A senior Chinese official has pledged that China will consider any request for assistance from Taiwan during the current global financial downturn.
Monday, December 22nd 2008 - 20:00 UTC
Barclays: Bankers should apologize to regain trust

The credit crunch will last for up to two more years, the boss of Britain's Barclays Bank believes. John Varley forecast that consumers and businesses would struggle to access credit for between one and two more years. He added that banks should apologise to customers to regain their trust.