Economy

Monday, November 5th 2007 - 20:00 UTC
Merrill Lynch, pioneer in sub-prime packaging sacks CEO

The United States bank Merrill Lynch said that CEO Stan O'Neal had retired with immediate effect, in a move that followed intense media speculation following calls for his departure after the firm was forced to admit a 7.9 billion US dollars exposure to bad debt.
Sunday, November 4th 2007 - 20:00 UTC
Ambani overtakes Gates to become world's richest man

Billionaire Mukesh Ambani became the richest person in the world, surpassing American software czar Bill Gates, Mexican business tycoon Carlos Slim Helu and famous investment guru Warren Buffett, courtesy the bull run in the stock market.
Saturday, November 3rd 2007 - 20:00 UTC
Punta Arenas with lowest unemployment percentage in Chile

Magallanes in the extreme south of Chile remains as the region with the lowest unemployment in the country, 3.2% in the July-September quarter. This is considerably less than Chile's 7.7% national average or Greater Santiago's 8%.
Friday, November 2nd 2007 - 20:00 UTC
China hikes fuel 10% but promises no impact to consumers

China has raised fuel prices by almost 10% in an effort to ease the country's worsening supply crisis. Officials hope the extra revenue will make refiners increase production, easing the long queues and rationing at filling stations.
Friday, November 2nd 2007 - 20:00 UTC
US bank stocks sent world markets plunging

World markets plunged on Thursday amid renewed fears about the credit crisis, sending shares in finance firms sharply lower. On Wall Street the Dow Jones Industrial Average shed more than 360 points or 2.6%, after two leading banks were downgraded earlier in the day.
Friday, November 2nd 2007 - 20:00 UTC
Canadian dollar soars to record 107 US cents

The Canadian dollar jumped more than two U.S. cents Friday to a record 107.18 US cents on strong employment data and a rise in oil prices, while the green back resumed its weakness against most major currencies. So far this year the Canadian dollar has appreciated 24% against the US dollar.
Friday, November 2nd 2007 - 20:00 UTC
IMF says it's time Argentina deals with outstanding debt

In one of his first statements since becoming the IMF new managing director, Dominique Strauss-Kahn said it was time Argentina deals with the issue of its outstanding debt, including to the Paris Club of creditor nations, thus favoring the return of investments to the country.
Friday, November 2nd 2007 - 20:00 UTC
US labor market surprise: 4.7% steady unemployment

The number of new jobs created by the United States economy leapt dramatically in October with employers adding 166.000 posts, twice the expected number, reported the Labor Department.
Friday, November 2nd 2007 - 20:00 UTC
Argentina's incoming government pending issues on debt front

Argentina, Latin America's third largest economy is on track to grow more than 8% for the fifth straight year, rivaling Asian expansion rates. But there are some pending issues on the debt front.
Friday, November 2nd 2007 - 20:00 UTC
Uruguay cattle supplies tight and beef exports down

Uruguay's meat exports in the first nine months of this year totaled 368.662 tons equivalent to 816 million US dollars, compared to 429.376 tons and 919 million US dollars in the same period a year ago, according to the latest release from the country's National Meat Institute of Uruguay (INAC).