Economic Rally for Argentines Defies Forecasts
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Argentina's economic recovery has been achieved in part by ignoring and even defying economic and political orthodoxy.
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Thousands of Argentines traveled to a religious shrine Monday, some tearfully raising stalks of wheat symbolizing jobs gained, to give thanks for an improving economy that has cut the unemployment rate to close to single digits for the first time in 13 years.
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U.S. incomes rose much more sharply than expected in January, while spending and core consumer price growth also outpaced forecasts, a government report showed on Thursday.
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This country does not look like a country in economic trouble.
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MEXICO CITY - Stocks rose to a record high close Friday in a shortened session, as investors continued a four-month rally that has been fueled by expectations of economic growth and hefty corporate earnings.
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Thursday's bond price rally followed a government report that showed that inflation was well restrained in August.
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The company's upcoming earnings increases aren't exactly the stuff of investment dreams.
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Argentina announces the terms of its debt restructuring, but it is unlikely to please creditors.
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The company reported net profit of $526 million on higher sales of agricultural and nutritional products in Latin America and it lifted its full-year outlook.
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The expansion in gross domestic product came in below economists' forecasts forcasts, but was still up from 3.3 percent in the second quarter.
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By Louise Egan BUENOS AIRES, Argentina  - Argentina on Fridaylaunched its historic offer to restructure $102.6 billion indefaulted debt but angry creditor groups began their owncounter-offensive in a battle to win the support of undecidedbondholders.
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As the UN climate conference meets in Argentina, a new report questions the economic sense in tackling greenhouse gases so vigorously now.
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South Korean exports and inflation make surprise jumps in August, but central bankers are set to resist any calls to raise interest rates.
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Investors are increasingly optimistic about the state of the Brazil's economy as Brazilian share prices hit a record high.
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Argentine first lady Cristina Fernandez de Kirchner rode an economic boom and her husband's popularity to victory in a presidential election on Sunday to become the country's first elected woman leader.
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The timing may have surprised them but many investors had expected a hiccup in the eight-month rally that has taken US and European stock markets to highs not seen since the dotcom bubble.
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The success of locally issued vouchers defies traditional economic logic, but local officials say it helps their economies.