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Montevideo, February 19th 2018 - 08:14 UTC

Economy

  • Friday, February 9th 2018 - 10:45 UTC

    Bank of England expects pace of interest rate increases to accelerate

    Bank of England said rates would need to rise “earlier” and by a “somewhat greater extent” than they thought at their last review in November.

    The Bank of England has indicated that the pace of interest rate increases could accelerate if the economy remains on its current track. Bank policymakers voted unanimously to keep interest rates on hold at 0.5% at their latest meeting. However, they said rates would need to rise “earlier” and by a “somewhat greater extent” than they thought at their last review in November. Economists think the next rate rise could come as soon as May.

  • Friday, February 9th 2018 - 10:16 UTC

    Brazilian inflation in January below the official Central bank target

    The report supported trader bets on a March interest rate cut even after the central bank stated on Wednesday it considered appropriate to end the easing cycle

    Lower power tariffs pulled Brazil's inflation rate below the official target range and even the lowest of forecasts in January. Consumer prices tracked by the benchmark IPCA index rose 2.86% in the twelve months through January, government statistics agency IBGE said on Thursday.

  • Friday, February 9th 2018 - 10:08 UTC

    Japanese companies Brexit warning: no profits, no private company can continue

    Mrs. May told the business leaders that Brexit would allow UK to strike a free trade deal with Japan, and the industrial strategy made the UK “more attractive”.

    Japan's ambassador to the UK has said Brexit is a high stakes issue and that no company would be able to stay in the UK if it was not profitable. Koji Tsuruoka was speaking outside Number 10 after a meeting between Prime Minister Theresa May and 19 top Japanese bosses.

  • Friday, February 9th 2018 - 09:56 UTC

    As Dow Jones plunges 10% points, fears of a bear market and ripples effects on the economy

    Dow and S&P 500 are down more than 10% from their all-time highs, passing the psychological barrier known as “correction” for the first time in two years.

    The United States Dow Jones industrial average nosedived more than 1,000 points on Thursday, registering another eye-popping loss for the closely-followed index, as wild trading and fears of rising interest rates around the world took hold of traders. The Dow as well as the S&P 500, a broader stock index, are now down more than 10% from their all-time highs, passing an important psychological barrier known as a “correction” for the first time in two years.

  • Thursday, February 8th 2018 - 09:17 UTC

    Brazil's central bank beats inflation and recession: eyes now on the presidential election

    The central bank lowered the Selic rate by 0.25 percentage point, its 11th consecutive cut aimed at helping Brazil emerge from a stifling two-year recession.

    Brazil’s central bank cut its benchmark interest rate on Wednesday to a new low of 6.75%, but hinted it was now done with a historic easing cycle. The bank lowered the Selic rate by 0.25 percentage point, its 11th consecutive cut aimed at helping Latin America’s largest economy emerge from a stifling two-year recession.

  • Thursday, February 8th 2018 - 09:11 UTC

    Falklands and MoD agree to address rotor winds at MPA airport

    The airport at MPC is the international commercial link of the Falklands

    The Falkland Islands government and the Ministry of Defense have agreed to address the challenge of rotor winds, which have become a serious problem for the operations at the Mount Pleasant Complex.

  • Thursday, February 8th 2018 - 09:11 UTC

    With NAFTA on the cliff, Mexico betting strongly to update free trade agreement with Europe

    Mexican negotiators are in Brussels this week, with the two sides due to reconvene next week in Mexico.

    Mexico believes it can conclude a new free-trade agreement with the European Union before the end of February, Mexican officials have said. The EU and Mexico intend to update a trade deal agreed 21 years ago that largely covers industrial goods. They want to add farm products, more services, investment and government procurement, and include provisions on labor standards and environmental protection.

  • Wednesday, February 7th 2018 - 15:23 UTC

    Powell becomes chairman of the Fed in a turbulent trading day

    President Donald Trump picked Powell after deciding to break with recent tradition by not offering Yellen a second four-year term.

    Jerome Powell was sworn as the 16th chairman of the Federal Reserve on what turned out to be a turbulent day for Wall Street, with the Dow Jones industrial average plunging by more than 1,100 points. Powell, 65, was given the oath of office by Randal Quarles, the Fed's vice chairman for supervision, in a ceremony that took place before stock trading opened on Wall Street.

  • Wednesday, February 7th 2018 - 14:41 UTC

    Oil Prices Ravaged By Financial Turmoil

    “The stock market and interest rates can really affect oil a lot,” told Mark Waggoner

    By Nick Cunningham of Oilprice.com

    Oil prices fell back suddenly over the last few trading sessions, dragged down by some forces beyond the oil market.

  • Wednesday, February 7th 2018 - 09:56 UTC

    Brazil's second largest private bank names new CEO in a major shakeup

    Lazari has four decades of experience at the bank, beginning his career as a teenager in 1978 and is expected to take the helm next month

    Banco Bradesco SA, Brazil's second-largest private-sector lender, appointed a new chief executive who told journalists that demand for credit has already improved in the first month of 2018. Octavio Lazari, 54, head of Bradesco's insurance unit, was appointed as the bank's next CEO amid a broader management shakeup with younger executives joining the board and upper management ranks to tackle increasing competition from all-digital banks.