The United Kingdom and the European Union have made progress on a deal to give London’s dominant financial center basic access to EU markets after Brexit, two British officials said, but no agreement has yet been clinched.
Wages in the United States grew at their fastest pace for nine years last month, the latest official figures show. The US Labor Department said wages grew at an annual rate of 3.1% in October, accelerating from a rate of 2.8% the month before. The economy also added 250,000 jobs last month, beating expectations, while the jobless rate remained at 3.7%.
A hungry American economy powered by a strong U.S. dollar saw record imports in September, driving the U.S. trade deficit to its highest level in seven months, the government reported on Friday.
Manufacturing activity in Brazil expanded in October as strong demand prompted firms to increase payrolls for the first time in three months, bolstering the outlook for a steady economic recovery. The Purchasing Managers' Index calculated by research firm Markit rose to 51.1 from 50.9 in September, holding above the 50 threshold separating a contraction from an expansion for a fourth straight month.
Argentina, Costa Rica, Japan and the European Union are supporting a U.S. drive to enforce greater transparency and discipline at the World Trade Organization, an updated proposal published by the WTO showed on Friday.
Cuba on Friday said new sanctions planned by the United States were a futile attempt to change its policies and would only further isolate Washington internationally.
The World Bank and the Inter-American Development Bank are providing Argentina with three loans totaling more than US$1.8 billion, aiming to help the country cope with financial difficulties and support citizens most at risk.
Latin American stocks soared on Thursday with Brazil shares touching an all-time high and Argentina's Merval stock index jumping 6,2%, as global risk appetite recovered on strong corporate earnings and signs that the Sino-U.S. trade war could be contained.
Brussels and Downing Street have played down speculation about a breakthrough in Brexit talks. Reports that a Brexit deal could safeguard the City’s access to European Union markets led to an increase in the value of sterling.
Bank of England governor Mark Carney has warned interest rates could rise in the event of a no-deal Brexit if a cliff-edge withdrawal sends the pound into free fall. Mr. Carney said there are scenarios where policy “might need to be tightened in the event of a no deal, no transition Brexit”, should a plunge in the value of the pound cause inflation to surge and impact UK production.