Economy

Friday, June 6th 2008 - 21:00 UTC
US unemployment rate picks up speed: 5.5% in May

The United States unemployment rate rose at its fastest pace in more than two decades in May, stoking fears of recession in the world's biggest economy. The surprise jump in May's jobless rate to 5.5% from 5% is the most recent signal yet that US growth is stalling.
Friday, June 6th 2008 - 21:00 UTC
“Many airlines will not survive” oil crisis warns IATA

The leaders of the world's airlines unanimously agreed to a resolution calling for governments, airports and labour to take immediate action to help the industry survive the growing financial crisis.
Friday, June 6th 2008 - 21:00 UTC
Embraer sells Super Tucano to US defense service company

Brazilian aircraft manufacturer Embraer confirmed on Friday it had sold a propeller-driven fighter plane to a unit of Blackwater Worldwide, the world's largest private defense services company, and said it would not be used for operations in Iraq.
Friday, June 6th 2008 - 21:00 UTC
Argentina's growth rate lowered to 5,5% and 2% in 08 and 09

London based Barclays Capital lowered its 2008 and 2009 growth forecast for Argentina following on increasing concerns about accelerating inflation, striking farmers blocking exports and slowing investment.
Thursday, June 5th 2008 - 21:00 UTC
Argentina has largest wine production in Southern hemisphere

Argentina will have a record production of wine for the Southern hemisphere in 2008, totaling 15.25 million hectoliters, compared to the 15.046 of last year according to the latest report from the Paris seated International Organization of Vines and Wine, OIV.
Thursday, June 5th 2008 - 21:00 UTC
US dollar dips in Chile but “should rebound” to 500 pesos

The US dollar in the Chilean money market fell back to 480 pesos on Thursday after having reached 490 on Wednesday following on several days of gradual recovery.
Thursday, June 5th 2008 - 21:00 UTC
Euro interest rates unchanged;increase “possible” next time

The European Central Bank (ECB) left interest rates for the Euro zone unchanged at 4% but admitted an increase was “possible” at its next meeting because risks to price stability over the medium term have further increased.
Thursday, June 5th 2008 - 21:00 UTC
In spite of slowdown UK interest rate left on hold at 5%

The Bank of England Monetary Policy Committee, MPC, decided Thursday to hold interest rate at 5%. The decision had been widely expected amid concerns about the pace of inflation.
Thursday, June 5th 2008 - 21:00 UTC
With Argentina blocked, Brazil has record soy exports

Brazilian soybean exports reached a record 4.44 million tons in May, up from the 3.34 million in April and 3.15 million in May 2007, as farmer protests cut shipments from Argentina, according to grain and oilseed traders.
Thursday, June 5th 2008 - 21:00 UTC
Brazil raises rate to 12.25%; annual May inflation 5.25%

Brazil's Central bank raised its benchmark interest rate this week for the second time in less than two months to curb resurgent inflation and prevent overheating of the world's tenth biggest economy.