Economy

Economy
Thursday, June 16th 2016 - 08:20 UTC

Canada and Pacific Alliance establish long term strategic partnership

“Canada has supported the Pacific Alliance since its inception, as well as its collaborative approach to promoting trade and investment,” said Freeland.

Canada became the first observer country to enter into a strategic partnership with the Pacific Alliance. Chrystia Freeland, minister of International trade and ministers of the four countries of the alliance—Chile, Colombia, Mexico and Peru—signed a joint declaration today in Mexico City.

Thursday, June 16th 2016 - 08:08 UTC

Argentina's revamped stats data launched: May inflation 4.2%

“We are leaving a period where public confidence was destroyed and especially at Indec,” Mr. Todesca said Wednesday at a news conference.

Argentina released inflation figures for the first time since December last year, when newly elected president Mauricio Macri suspended the publication of economic data and intervened the official stats office, Indec, following long standing claims of manipulation by his predecessor.

Thursday, June 16th 2016 - 07:25 UTC

Macri attends economic forum in Colombia; reaffirms Argentina's commitment to the Pacific Alliance

“Mercosur needs a greater integration dynamics and must be open to work with other regional blocks such as the Pacific Alliance”, Macri said at the Nariño Palace.

Argentine president Mauricio Macri said Mercosur needs “a greater integration dynamics” and defended the idea that the Atlantic regional block country members work to reach agreements with countries of the Pacific Alliance.

Thursday, June 16th 2016 - 06:55 UTC

Germany warns Brexit could lead to the European block's disintegration

 “A vote to leave would shake the union,” German foreign minister Steinmeier said at a joint news conference in Brandenburg.

If the United Kingdom votes to leave the EU next week, the move could ultimately lead to the bloc's disintegration, Germany's foreign minister has warned. Frank-Walter Steinmeier was speaking near Berlin after talks with his French counterpart, Jean-Marc Ayrault.

Wednesday, June 15th 2016 - 19:06 UTC

Federal Reserve cautious about the future, leaves interest rates unchanged

“The pace of improvement in the labor market has slowed” However “economic activity will expand at a moderate pace”

United States Federal Reserve in a unanimous vote kept interest rates unchanged on Wednesday and signaled that it will assess labor market conditions, inflation expectations and financial and international developments before deciding on future actions. The U.S. central bank also lowered its economic growth forecasts for 2016 and 2017 and indicated it would be less aggressive in tightening monetary policy after the end of this year.

Wednesday, June 15th 2016 - 17:06 UTC

UK Overseas Territories could suffer significantly from Brexit, says UKOTA report

UKOTA said the overall aim of the report is not to force UKOTs onto the campaign agenda but to demonstrate the value of the EU to the UKOTs and future relationship

Britain’s Caribbean Overseas Territories could suffer significantly if it votes to leave the European Union in the June 23 referendum, according to a report released in London.

Wednesday, June 15th 2016 - 16:49 UTC

Adidas will open its first factory in Germany in 30 years, with robots

Adidas says manufacturing in Germany will help improve the quality of its shoes, cut the time it takes to bring products to market and slash warehouse costs.

Adidas will be opening its first factory in Germany in more than 30 years is one of the most visible examples of global brands bringing manufacturing home because of rising labor costs in Asia. Adidas’s 50,000 square-foot factory, in the Bavarian town of Ansbach, will rely on robots and customized automation to produce 500,000 pairs of athletic shoes a year—well below 1% of Adidas’s total annual production of 300 million pairs—when full production starts in 2017.

Wednesday, June 15th 2016 - 11:27 UTC

Falklands Holdings expects quieter period following suspension of oil exploration but trusts increased tourism

The company said performance in its trading subsidiaries has been satisfactory, with record trading in the Falklands

Falkland Islands Holdings PLC on Tuesday reported a fall in pre-tax profit for its recently ended financial year, and said it expects to see a quieter period in the Falklands for the year ahead, to be offset by its Portsmouth Harbour Ferry and Momart businesses.

Wednesday, June 15th 2016 - 07:54 UTC

Brexit debate escalates: Remains warn of a fiscal “black hole”; Vote Leave slams “hysterical prophecies”

Chancellor Osborne will share a stage with his Labour predecessor, Lord Darling, setting out £30bn of “illustrative” tax rises and spending cuts

UK Chancellor of the Exchequer George Osborne says he will have to slash public spending and increase taxes in an emergency Budget to tackle a £30bn “black hole” if the UK votes to leave the European Union. The chancellor will say this could include raising income and inheritance taxes and cutting the NHS budget.

Tuesday, June 14th 2016 - 12:04 UTC

ECB purchases 348bn Euros of corporate bonds in the first three days

The ECB added investment grade, non-bank corporate bonds to its asset-buying program from June 8 to make borrowing cheaper

The European Central Bank bought 348 million Euros of corporate bonds in the first three days of such purchases last week, it said on Monday, as part of its 1.74 trillion Euro scheme to revive growth and inflation. The figures are at the upper end of analyst predictions, indicating a strong start for the program and suggesting that the ECB was keen to show it can buy significant volumes.

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