Economy

• Wednesday, July 10th 2013 - 05:50 UTC

  NYSE takes control of LIBOR setting, following collusion from leading banks

  

  The owner of the New York Stock Exchange is set to take control of a key scandal-hit bank interest rate. NYSE Euronext has won the contract for setting the London Inter-bank Offered Rate (Libor), a government-backed committee announced. Libor is used to set trillions of dollars of financial contracts.

• Wednesday, July 10th 2013 - 05:42 UTC

  Chile inflation spikes in June but ends in the first half year at 1.9%

  

  Chile's consumer inflation was up 0.6% in June, the biggest increase in eight months and slightly above expectations as costs jumped for accommodation, electricity, fuel products and water, the government said on its latest stats report.

• Wednesday, July 10th 2013 - 05:39 UTC

  IMF anticipates slower growth for Chile’s export dependent economy

  

  Growth in Chile's export-dependent economy will slow to 4.6% this year due to softer copper prices, investment and domestic demand, the IMF said in a report posted on the central bank's website earlier this week. In April, the IMF projected the economy of the world's leading copper producer would expand by 4.9% in 2013.

• Monday, July 8th 2013 - 07:06 UTC

  Teamsters bring Argentina to a stop and challenge fiscal policy and income tax

  

  Argentina’s teamsters union headed by the powerful leader Hugo Moyano, a former ally of the government and currently one of her most aggressive adversaries, has declared a national strike on Monday which in practical terms means the country is in full campaign ahead of the mid term October election when President Cristina Fernandez will try by all means to retain control over Congress.

• Monday, July 8th 2013 - 06:46 UTC

  Over a third of Argentine population in poverty conditions says food and nutrition report

  

  At least 17.8% of the Argentine population lives in indigence conditions, taking as reference a ‘Healthy Food Basket’ which estimates family monthly needs in 3.700 Pesos which is more that five times the official stats office Indec reference sum of 730 Pesos.

• Monday, July 8th 2013 - 04:10 UTC

  South Georgia government issues coin depicting a Weddell Seal pup

  

  The South Georgia & South Sandwich Islands Government has released a Pobjoy Mint new coin that depicts a Weddell Seal pup. The species is native to Antarctica and lives further south than any other mammal.

• Saturday, July 6th 2013 - 06:44 UTC

  US economy adds more jobs than forecasted; markets looking at the Fed’s reaction

  

  The US economy added a net 195,000 new jobs in June, official figures show. The figure was well above economists' expectations of 165,000. Revisions to data for April and May added a further 70,000 jobs to previous estimates. This means the jobless rate remained steady at 7.6% of the workforce, according to data from the Bureau of Labour Statistics.

• Friday, July 5th 2013 - 23:52 UTC

  Brazil cuts spending determined to ensure 2.3% primary surplus, pledges Mantega

  

  Brazil announced on Friday it will immediately cut government spending by 6.65 billion dollars to balance the budget and achieve the goal of a primary fiscal surplus of 2.3% of GDP. The decision is seen as a strong signal to recover investors’ confidence following weeks of turmoil and poor performance of the economy.

• Friday, July 5th 2013 - 23:41 UTC

  Bachelet and Longueira will dispute the Chilean presidency next November

  

  Chilean president Sebastián Piñera congratulated former president Michelle Bachelet and ex Economy minister Pablo Longeuira who emerged as winners in the two main coalition’ primaries held last Sunday, the first time such an event takes place in the country.

• Friday, July 5th 2013 - 23:35 UTC

  Brazil’s growth refuses to take off, despite all of government incentives

  

  Brazil’s industrial output fell 2% in May after jumping a revised 1.9% in April, the national statistics agency announced this week in Rio de Janeiro. The fall was greater than forecasted but still was 1.4% above a year ago. However as the government or President Dilma Rousseff struggles to fight inflation, the latest data complicates the strategy to prop growth.