China's latest industrial production and retail sales figures are higher in July from one year ago but the pace of expansion has slowed. Industrial production, a measures of output at factories, workshops and mines jumped 9% in July, compared to a 9.2% rise in June. Retail sales in July rose by 12.2%. But that's also below June's 12.4% spike.
Tata Motors has reported a big jump in profits thanks to strong sales at its Jaguar Land Rover business. Net profits at India's biggest carmaker tripled to 53.98bn rupees (882m dollars) in the three months to the end of June, far more than analysts had expected. Revenue grew by almost 40%.
A new study has found that Puerto Rico has undergone such a dramatic population shift that there are now over a million more Puerto Ricans on the US mainland than on the US island territory. The Pew Research Center study showed that between 2010 and 2013, more people left Puerto Rico for mainland US than those who left in the 1980s or 1990s.
Economic activity in Brazil dropped sharply in June as the World Cup football tournament shut down shops and factories across the country, adding to signs Latin America's largest economy slipped into recession.
Debt talks on Argentina’s defaulted bonds in the hands of holdout hedge funds ultimately collapsed this week due to disagreements over prices and the absence of a government guarantee to honor payments on the paper, sources close to the discussions said.
Holders of Euro-denominated Argentine bonds have appealed judge Thomas Griesa's ruling blocking Argentina from making payments on their debt, according to a court filing.
The International Transport Workers’ Federation passed on Friday a motion condemning the actions of the 'vulture funds' against Argentina and calling ”not to allow the vulture funds to paralyze the debt-restructuring processes of developing countries or prevent states from exercising their right to protect their citizens under international law”, according to a release from the Argentine embassy in London.
Argentine inflation rose 1.4% during July leaving consumer prices 16.7% higher than at the beginning of the year, official data showed on Friday. The July index was slightly higher than the 1.3% of June and confirms Argentina is experiencing one of the highest inflation rates in the world and only second to Venezuela in Latin America.
Argentina's government will use an anti-terrorism law for the first time to seek criminal charges against a U.S.-based international printing firm which closed its Argentine plant without warning, president Cristina Fernández said on Thursday. She linked the company to some of the hedge funds in litigation with Argentina over defaulted bonds.
The US dollar in Argentine money markets continued its rising path on Thursday with a new record climb to close at 13.20 Pesos. This so-called “blue” dollar had jumped 20 cents to 13.15 pesos on Wednesday, breaking its 13.06 Pesos record from 23 January.