Economy

Friday, September 19th 2008 - 21:00 UTC
Forbes: Bill Gates, richest man in the US with 57 billion USD

Bill Gates remains the richest man in the United States with 57 billion US dollars in assets despite losing his crown to Warren Buffett for a few months earlier this year according to the latest The Forbes 400 billionaires.
Friday, September 19th 2008 - 21:00 UTC
Latam well positioned to face global crisis, says World Bank

Latinamerica is well positioned to face risks in the event of a global financial recession, according to the World Bank vicepresident for Latinamerica and the Caribbean, Pamela Cox who this week visited Uruguay.
Friday, September 19th 2008 - 21:00 UTC
Spain compensates jobless immigrants to return home

Spain will try to persuade jobless legal immigrants to leave by offering to pay them a lump sum and then provide unemployment benefits in their home countries plus the promise of not returning to Spain for three years, the government said on Friday.
Thursday, September 18th 2008 - 21:00 UTC
Latinamerica markets suffer merciless broad based losses

Stock markets across Latinamerica suffered a beating on Wednesday amid growing anxiety about turmoil in the US financial sector expanding globally and ever-tightening credit conditions.
Thursday, September 18th 2008 - 21:00 UTC
Lula da Silva feels “sad” about W. Street “super intelligent”

Brazilian President Lula da Silva said on Thursday he has watched with “sadness” the collapse of Wall Street firms that made economic policy recommendations in emerging markets “as if they were the super intelligent and we were the poor souls”, according to Spanish news agency EFE.
Thursday, September 18th 2008 - 21:00 UTC
The Economist IU praises “impressive” Uruguayan economy

The Economist Intelligence Unit praised in Montevideo the achievements of the Uruguayan economy as “really impressive” but also cautioned that good times don't last for ever.
Thursday, September 18th 2008 - 21:00 UTC
Argentina en route to normalize links with external creditors

The Paris Club has welcomed Argentina's pledge to repay its full debt of 6.7 billion US dollars to the group of creditor nations. Discussions on how the repayment will be made are still ongoing, the group said.
Wednesday, September 17th 2008 - 21:00 UTC
“Financial bubble” of the last 25 years coming to an end

Billionaire investor George Soros has given his gloomiest assessment of the state of the US and world economies. Speaking with BBC business editor Robert Peston Soros said that the “acute phase” of the credit crunch may be over but effects on the real economy are yet to be felt.
Wednesday, September 17th 2008 - 21:00 UTC
US bails out AIG with 85 billion USD; takes 80% stake

In a bid to save financial markets and economy from further turmoil the United States government agreed Tuesday evening to provide an 85 billion US dollars emergency loan to rescue the huge insurer AIG.
Wednesday, September 17th 2008 - 21:00 UTC
Barclays interested in other Lehman Brothers assets and staff

Barclays PLC said Wednesday it may pick up some of Lehman Brothers assets and employees in Europe and Asia, on top of the British bank's deal to acquire key US operations from the failed investment bank.