Economy

Saturday, September 27th 2008 - 21:00 UTC
“Sooner or later” global financial crisis will reach Latam

Ibero-America Secretary General Enrique Iglesias said Latinamerica feels somehow frustrated because it is a “victim, not an actor” of the current global financial crisis, which sooner or later will reach the region.
Friday, September 26th 2008 - 21:00 UTC
Democrats' message to markets: rescue bill is “back on track”

United States president George W Bush has said that legislators will “rise to the occasion” and pass the proposed 700 billion Wall Street rescue plan. He said disagreements remained as “the proposal is big and the reason it's big is because it's a big problem”.
Thursday, September 25th 2008 - 21:00 UTC
Live cattle prices in Uruguay sliding after peaking in August

Live cattle prices in Uruguay after reaching a historic peak in mid August have begun to drop significantly following the meat industry's decision to soften activity and a drop in demand from Russia and to a certain extent the European Union.
Thursday, September 25th 2008 - 21:00 UTC
EU announces strict rules but no US style banks bail out

Europe does not need a US-style bail-out of banks, but must introduce stricter financial supervision, a top EU official has said. Economy commissioner Joaquin Almunia said mimicking the 700 billion US plan to unfreeze credit markets was unnecessary because the situation was “less acute”.
Thursday, September 25th 2008 - 21:00 UTC
Financial crisis: Bush appeals to Congress, Obama and McCain

Americans must support a massive bail-out of financial markets to ease a “serious financial crisis”, US President George W Bush said on Wednesday. The entire economy was in danger, he said in a live TV speech, and failure to act now would cost more later.

He has invited presidential rivals John McCain and Barack Obama to the White House on Thursday to discuss the 700 billion US dollars rescue package.

The rivals have disagreed on delaying a TV debate over the economic turmoil.
Thursday, September 25th 2008 - 21:00 UTC
Brazil unemployment at its lowest level since 2001: 7.6%

Brazilian unemployment in August fell to its lowest level since 2001 thanks in part to the nation's solid economic growth. The country's official statistics institute IBGE said the rate dropped to 7.6% from 8.1% in July and 1.9 percentage points from August 2007.
Thursday, September 25th 2008 - 21:00 UTC
“Laissez-faire is finished” says EC chair Pte Sarkozy

The economic turmoil provoked by crises in the United States subprime and finance markets has put an end to the free market economy, French President Nicolas Sarkozy said on Thursday.
Thursday, September 25th 2008 - 21:00 UTC
Number of cell phone subscribers will reach 4 billion in 2008

The number of mobile cellular subscribers worldwide will reach the 4 billion mark by the end of 2008, the head of the United Nations International Telecommunications Union (ITU) announced Thursday.
Wednesday, September 24th 2008 - 21:00 UTC
Bernanke & Paulson didn't fully convince skeptic US Senators

United States lawmakers have expressed strong skepticism about a bail-out of the banking system, following a five-hour Senate hearing on the rescue plan. Treasury Secretary Henry Paulson told the banking panel that delaying the 700 billion US dollars bail-out would put the entire US economy at risk.
Wednesday, September 24th 2008 - 21:00 UTC
Beijing bankers fear the impact on China of financial crisis

Hot debates about the evolving, if not worsening, global financial crisis offer much needed food for thought as China's financial development enters a new era, but few disagree on the need of further financial reforms, according to a leading Chinese banker.