On top of the generalized global interest about Argentina's move to nationalize its largest energy company YPF, the majority owner of which had been the Spanish energy company Repsol, there is a special local twist as the Mexican President Felipe Calderón has been particularly critical of Argentina's move calling it "very regrettable."
Good news! Canada's budget deficit is shrinking even before the federal government introduces its budget cuts. There's an important lesson for the whole world from the Canadian experience: the actions a government might take to reduce its deficit -- cutting spending, raising taxes -- can prolong the recession.
For many, the improving job growth numbers were seen as a sign that the Canadian economy was back on track despite fears that the economy was tipping back towards recession. Dig a little deeper into the numbers, however, and the headline may not be as positive as it first appears. In fact, it could be downright deceiving.
Assuming Mr. Carney and his fiscal policy counterparts maintain their credibility, the country may very well hang on to number one for another year at least. That's good news for business and it might just be the thing that softens the blow to our equity market should the gyrations of the past few months continue.