Pablo Garcia News
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Spain’s turn toward wage cuts to restore competitiveness without leaving the euro is starting to bear fruit. At least that’s how it seems for Pablo Garcia, a 34- year-old autoworker who just got hired after a year out of work.
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Spanish Prime Minister Jose Luis Rodriguez Zapatero wants to lure private investors to the country’s savings banks to share the burden of shoring up their capital. It won’t be easy, analysts and investors said.
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Chilean central bank President Jose De Gregorio left the country’s benchmark interest rate at a record low 0.5 percent as the economy recovers from the deadly February earthquake.
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Spain’s effort to bolster its banks, stanch spending and stave off sovereign debt contagion will hinge in part on the initial public offering of Bankia, a lender formed from the merger of seven savings banks.
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Spanish bond yields rose and bank stocks fell, indicating the blueprint Finance Minister Elena Salgado outlined to strengthen the financial system failed to calm investor concerns.
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Banco Bilbao Vizcaya Argentaria SA, Spain’s second-biggest lender, said bad loans stabilized as higher earnings from wholesale banking kept first-quarter profit little changed.
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Banco Bilbao Vizcaya Argentaria SA , Spain’s second-largest bank, posted a 30-fold gain in fourth- quarter profit as Mexican earnings surged and it didn’t repeat writedowns in the U.S.
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Banco Bilbao Vizcaya Argentaria SA , Spain’s second-largest bank, may say first-quarter profit fell as lower earnings in its home market offset gains in Mexico.
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An oil spill at a facility operated by Venezuela’s state oil company has sparked the first public spat in the ruling party since President Hugo Chavez was diagnosed with cancer in June.
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Chilean consumer prices rose faster than analysts estimated in May and at the quickest annual pace since July.
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