A record amount of solar power was generated on Friday as Britain basked in sunshine and temperatures of up to 28C, the National Grid has said. A total 8.7 gigawatts (GW) had been generated at lunchtime, representing 24.3% of total generation across the UK, beating the previous record of 8.48GW set on 10 May.
Brazil's economy is clearly growing again after a severe recession and will be shielded from a political crisis by widespread support for the government's reform agenda, Finance Minister Henrique Meirelles said, despite the fact Moody's on Friday announced it was lowering the country's credit outlook.
Britain's economy slowed more sharply than first thought in early 2017 as consumers felt the hit from the rise in inflation that followed the Brexit vote and exporters struggled to benefit from the weak pound. Thursday's downbeat official data - which contrasts with signs of acceleration in many other economies - comes two weeks before Britons vote in a national election.
Argentine federal agents searched the offices of the Brazilian construction conglomerate Odebrecht in Buenos Aires on Wednesday as part of an investigation into alleged bribes in the granting of construction contracts for a water treatment plant.
As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil's immediate future. As Saudi Arabia announces plans to slash production and move their economy away from oil dependency, many industry insiders are predicting that the now over-saturated market will reach an equilibrium with higher commodity prices by 2018 and U.S. shale production will continue to grow along with global demand.
The White House has denied the president's budget proposal contains an egregious math error. Former US Treasury Secretary Larry Summers pointed out the spending plan double-counts US$2trillion. But White House budget director Mick Mulvaney told reporters: We stand by the numbers.
Argentina's economy grew 0.8% in March from a year earlier, the Indec statistics agency said on Tuesday. The economy also grew 1.9% in March versus February, Indec said.On Tuesday the Argentines central bank also kept its benchmark interest rate at 26.25% and said it believes the country's inflation rate is easing in May.
China has received a downgrade on its credit score, on worries about the future state of the economy. Moody's Investors Services brought down China's long-term local currency and foreign currency issuer ratings by one notch to Aa3 from A1, a move that could lead to a rise in the cost of borrowing for the Chinese government and state-owned enterprises. The ratings agency also changed its outlook for China to stable from negative.
The United States debt level reached a record high this year, surpassing the peak touched just as the worst of the recession was taking hold in 2008, and marking a milestone for households that now lean less on mortgages and more on auto and student loans
Scotland won a record number of investments from overseas in 2016, although growth was substantially lower than the previous year. There were 122 foreign direct investment deals done over the course of last year, up from 119 in 2015.