The 2010 World Cup in South Africa got under way with a spectacular and vibrant opening ceremony at the 94,000-capacity Soccer City in Johannesburg.  The ceremony was followed by the first game of the tournament between the hosts and Mexico, which ended 1-1.  Africa is staging the World Cup for the first time, with 32 nations competing in 64 games until the final on 11 July. Nelson Mandela was due to attend the opening ceremony but withdrew following the death of his great-granddaughter.  Zenani Mandela, 13, died in a car crash when travelling home from the pre-World Cup concert in Johannesburg on Thursday. She was one of the 91-year-old anti-apartheid icon's nine great-grandchildren.

Brazil's economy grew at its fastest rate in at least 14 years in the first three months of 2010, official figures have shown. Its gross domestic product (GDP) surged by 9% compared with the same period a year earlier.
However, higher interest rates and the withdrawal of some tax breaks are expected to cool growth eventually. Brazil's economy is the largest in Latin America and the eighth-biggest in the world.
Agriculture and industry were among the growth sectors, the government said.

After months of iPad mania, it's time to see if the iPhone can pack another punch.Apple CEOSteve Jobs is expected to take the wraps off the fourth edition of the company's prized smartphone today. It doesn't matter that the iPhone is now in its third year and that what is likely to emerge is merely an update. Legions of tech geeks, Apple competitors and ordinary consumers will be hanging on Jobs' every word. With back-to-back-to-back best sellers in the iPod, iPhone and iPad, Apple "comes up with more good ideas than any other company on Earth," says Richard Doherty, an independent analyst at the Envisioneering Group.

Should we choose a robust financial system or leverage-fueled economic growth?
Financial regulation is one of the bogeymen that have spooked asset markets over the past month. The SEC's case against Goldman Sachs has revitalized the regulatory reform dialogue and renewed concerns of earnings volatility and valuations.  The outcome is of little consequence now that Goldman Sachs ( GS - news - people ), and other large banks, by association, has been publicly vilified. The case has demonstrated the logic behind Glass-Steagall, calling into question the remit and obligations of entities that operate under the protection of implicit federal assistance The Volcker rule aims to unbundle highly risky activities from the institutions we entrust with our savings by pulling the shadow banking system under the scrutiny of regulation. However, it could fall victim to "soft-touch" habits by allowing financial institutions control of its interpretation.

There is a growing consensus among Latin American diplomats that new political winds are blowing in the region -- after a decade of radical leftist populism, we are entering a new era of centrist pragmatism.
Are such forecasts right? Let's look at the evidence.  There is no question that Venezuela's narcissist-Leninist president Hugo Chávez, who was Latin America's center of attention during the past 10 years, is rapidly losing his clout as a regional leader.