
South America's cruise industry has been growing fast and holds vast potential, but the region must work together to tackle issues, create demand and rein in costs, said speakers at the Seatrade South America Cruise Convention in Buenos Aires.

The whistleblower in a breakthrough tax fraud case against Swiss bank UBS AG has won a record-setting 104 million dollars reward from the US Internal Revenue Service, a handsome payout that could entice more informants to come forward.

The United States may lose its triple-A debt rating if next year's budget negotiations do not produce policies that over time decrease the country's debt, Moody's Investors Service said in an e-mailed statement on Tuesday.

The Brazilian stock exchange Bovespa index rose for a third session as Brazilian raw-material producers rallied after weaker economic data from China to the US fueled strong hopes policy makers will take further steps to boost growth.

US President Barack Obama said on Friday the labour market is not hiring workers fast enough, following the release of a government report that showed weaker-than-expected employment figures.

In a speech to the Democratic Party’s national convention, former President Bill Clinton appealed to millions of hard-pressed Americans to support the President Barack Obama for a second term in the White House.

The 5.500 Democrat delegates launched a vigorous defence of President Barack Obama on Tuesday and urged voters to give him another term to fix the economy as they opened their national convention with sharp criticism of Republican hopeful Mitt Romney.

Argentina has filed its third trade complaint in two weeks, the World Trade Organization said on Monday, challenging US laws that it says have blocked imports of fresh lemons from north-west Argentina.

Federal Reserve Chairman Ben Bernanke said on Friday progress in bringing down US unemployment was too slow and the central bank would act as needed to strengthen the economic recovery.

Mitt Romney has pledged to restore the promise of America, as he accepted the Republican presidential nomination at the party's convention in Florida. The former Massachusetts governor accused President Barack Obama of failing to deliver on his soaring promises of hope and change. Mr Romney will challenge the Democratic president in November's election.