USA | Kerry endorses COOL | Democratic presidential candidate John Kerry has ...
USA
Democratic presidential candidate John Kerry has vowed to ensure that country of origin labeling "is implemented as Congress intended," according to a position paper on the Kerry-Edwards 2004 Campaign Web site. The statement reads, "George Bush has stopped this important program from being implemented as a favor to the big meat industry." Major industry associations, including the American Meat Institute, have long opposed mandatory COOL.
Mexico
Mexico Raises Interest Rates for Fifth Time (Update4)
Aug. 27 (Bloomberg) -- Mexico's central bank raised interest rates for a fifth time this year in a bid to stem accelerating inflation. Banco de Mexico increased the amount of money commercial banks must borrow at higher rates to 45 million pesos ($3.5 million) a day from 41 million pesos, it said on its Web site. The central bank adjusts interest rates by reducing or increasing the amount it will lend to commercial banks at a specific rate.
EU
WTO allows scientists to join EU/US biotech row
The World Trade Organization has agreed to a request by the EU to bring scientists into a row with the US over biotechnology.
A WTO panel decided on 20 August to allow scientists to present expert testimony before it makes a decision on a complaint against the EU’s biotech policy, reported Dow Jones International News. The US, together with Argentina and Canada, complained to the WTO last year about the EU’s moratorium on approving GM foods.
Brazil
Carrefour plans investment in Brazilian unit - report
French retail giant Carrefour is reported to be planning an investment of almost €500m (US$604.9m) in three years to improve the market share of its Brazilian operations.
Australia
New markets opening for Australian lamb
A new study of world markets for lamb predicts Australia's exports to the US could double or triple in the next decade.
New markets are also opening up in China, India and Mexico.
The former head of the Australian Meat and Livestock Corporation, Bruce Standen, who says the strongest demand is coming from the US, did the study.
"If that market can be just simply held at its current level; then with the production of lamb in the United States falling away we could probably double, and possibly treble, the level of our current exports - about 30,000 tonnes over the next 10 years."
If only we can find the lamb to supply it!
Australia to fall short of U.S. beef quota
The Federal Government says Australia will fall about 15,000 tonnes short of filling the United States' beef quota this year.
To help fill the gap, a compulsory recall of the quota will start a month early, from September 17. Many meat processors called for the quota system to be suspended last month because they feared it wouldn't be filled; but Agriculture Minister Warren Truss rejects criticism he didn't act soon enough.
Japan
More IRC pressure dumped on Daiei
Daiei Inc. may want nothing to do with the Industrial Revitalization Corp., but its creditors and others are determined to see otherwise.
Daiei's three main creditors-UFJ Bank, Sumitomo Mitsui Banking Corp. and Mizuho Corporate Bank-have drawn up a rehabilitation plan with the IRC itself that would provide the company with between 300 billion yen and 400 billion yen in aid. It would also dash Daiei's wish to remain a ``general' supermarket chain.
According to the plan, as disclosed by sources Wednesday, the IRC would inject an additional 100 billion yen to 200 billion yen to fund extensive renovations of existing outlets and boost their profitability.
The proposal counters one tabled by Daiei last Friday that seeks a third round of creditor relief to finance its revival.
Japan's July jobless rate soars 0.3 point to 4.9%
TOKYO, Aug. 27 Kyodo - (EDS: ADDING ANALYST COMMENT IN 5TH-7TH, 16TH GRAFS) Japan's seasonally adjusted unemployment rate in July rose to 4.9 percent in July, up 0.3 percentage point from June, the sharpest rise in six years, the government said Friday in a report expected to cast a shadow on the nation's burgeoning economic recovery.
USA
Democratic presidential candidate John Kerry has vowed to ensure that country of origin labeling "is implemented as Congress intended," according to a position paper on the Kerry-Edwards 2004 Campaign Web site. The statement reads, "George Bush has stopped this important program from being implemented as a favor to the big meat industry." Major industry associations, including the American Meat Institute, have long opposed mandatory COOL.
Mexico
Mexico Raises Interest Rates for Fifth Time (Update4)
Aug. 27 (Bloomberg) -- Mexico's central bank raised interest rates for a fifth time this year in a bid to stem accelerating inflation. Banco de Mexico increased the amount of money commercial banks must borrow at higher rates to 45 million pesos ($3.5 million) a day from 41 million pesos, it said on its Web site. The central bank adjusts interest rates by reducing or increasing the amount it will lend to commercial banks at a specific rate.
EU
WTO allows scientists to join EU/US biotech row
The World Trade Organization has agreed to a request by the EU to bring scientists into a row with the US over biotechnology.
A WTO panel decided on 20 August to allow scientists to present expert testimony before it makes a decision on a complaint against the EU’s biotech policy, reported Dow Jones International News. The US, together with Argentina and Canada, complained to the WTO last year about the EU’s moratorium on approving GM foods.
Brazil
Carrefour plans investment in Brazilian unit - report
French retail giant Carrefour is reported to be planning an investment of almost €500m (US$604.9m) in three years to improve the market share of its Brazilian operations.
Australia
New markets opening for Australian lamb
A new study of world markets for lamb predicts Australia's exports to the US could double or triple in the next decade.
New markets are also opening up in China, India and Mexico.
The former head of the Australian Meat and Livestock Corporation, Bruce Standen, who says the strongest demand is coming from the US, did the study.
"If that market can be just simply held at its current level; then with the production of lamb in the United States falling away we could probably double, and possibly treble, the level of our current exports - about 30,000 tonnes over the next 10 years."
If only we can find the lamb to supply it!
Australia to fall short of U.S. beef quota
The Federal Government says Australia will fall about 15,000 tonnes short of filling the United States' beef quota this year.
To help fill the gap, a compulsory recall of the quota will start a month early, from September 17. Many meat processors called for the quota system to be suspended last month because they feared it wouldn't be filled; but Agriculture Minister Warren Truss rejects criticism he didn't act soon enough.
Japan
More IRC pressure dumped on Daiei
Daiei Inc. may want nothing to do with the Industrial Revitalization Corp., but its creditors and others are determined to see otherwise.
Daiei's three main creditors-UFJ Bank, Sumitomo Mitsui Banking Corp. and Mizuho Corporate Bank-have drawn up a rehabilitation plan with the IRC itself that would provide the company with between 300 billion yen and 400 billion yen in aid. It would also dash Daiei's wish to remain a ``general' supermarket chain.
According to the plan, as disclosed by sources Wednesday, the IRC would inject an additional 100 billion yen to 200 billion yen to fund extensive renovations of existing outlets and boost their profitability.
The proposal counters one tabled by Daiei last Friday that seeks a third round of creditor relief to finance its revival.
Japan's July jobless rate soars 0.3 point to 4.9%
TOKYO, Aug. 27 Kyodo - (EDS: ADDING ANALYST COMMENT IN 5TH-7TH, 16TH GRAFS) Japan's seasonally adjusted unemployment rate in July rose to 4.9 percent in July, up 0.3 percentage point from June, the sharpest rise in six years, the government said Friday in a report expected to cast a shadow on the nation's burgeoning economic recovery.