Economy

Tuesday, June 10th 2008 - 21:00 UTC
Brazil GDP expands 5.8% in first quarter; overheat concern

Brazil's Gross Domestic Product, GDP, expanded 5.8% in the first quarter compared to the same period a year ago, and 0.7% over the previous quarter, according to the latest release from the Brazilian Statistics and Geography Institute, IBGE.
Monday, June 9th 2008 - 21:00 UTC
Chile's richest families assets total 71 billion U$D

In the last four years, wealth controlled by Chile's richest families grew by 45% to 71 billion US dollars, according to a study done by Chilean financing evaluation company LarrainVial, consulting company Accenture and the Universidad Adolfo Ibáñez.
Monday, June 9th 2008 - 21:00 UTC
More losses and fresh funding for US banking system

United States investment bank Lehman Brothers is raising 6 billion US dollars to boost its finances after predicting a loss of 2.8 billion in the second quarter of 2008.
Sunday, June 8th 2008 - 21:00 UTC
Uruguay's exports closing on 10 billion US dollars in 08

Exports from one of Mercosur's junior members Uruguay could reach ten billion US dollars this year, a considerable hike from the 6.8 billion of 2007 and the original official estimate of “above 9 billion US dollars”, according to sources from the Ministry of Economy.
Saturday, June 7th 2008 - 21:00 UTC
Venezuelan FAM extends to neighboring Colombia

Colombia declared a sanitary emergency in an area bordering with Venezuela where an outbreak of foot and mouth disease was confirmed by the country's Agriculture authorities, ICA.
Saturday, June 7th 2008 - 21:00 UTC
Chile forecasts copper 450.000 tons surplus in 2009

The Chilean Copper Commission (COCHILCO) predicted this week a 450,000 ton surplus in the global copper production for the year 2009. Global supplies are expected to increase by 7.9% between now and then due to increased production.
Saturday, June 7th 2008 - 21:00 UTC
Japanese banks feels the fallout from US subprime crisis

Japanese banks are feeling the fallout from the US subprime mortgage crisis and the credit crunch, according to the country's financial watchdog.
Saturday, June 7th 2008 - 21:00 UTC
Home foreclosures in the US set new record in first quarter of 08

United States home foreclosures and late payments set records over the first three months of the year and are expected to keep rising, stark signs of the housing crisis' mounting damage to homeowners and the US 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.