Economy

Economy
Saturday, June 6th 2015 - 11:23 UTC

Corporations experience huge 'trust deficit' in major Western economies, says TUC

Just one in five of people in western economies like France, Germany, the UK and the US agree that corporations can be trusted with their global workforce

Just one in five of people in western economies like France, Germany, the UK and the US agree that corporations can be trusted with their global workforce, according to a new poll commissioned by International Trade Union Confederation.

Saturday, June 6th 2015 - 10:02 UTC

For a world in distress, “the answer is Latin America” argues Argentine ambassador in London

Ambassador Alicia Castro addressing the rally at NUT's headquarters where she praised leaders such as Hugo Chavez, Lula da Silva and Nestor Kirchner

The Argentine ambassador in the UK, Alicia Castro, was one of the main speakers invited to an event yesterday which included the discussions “another world is possible” and “against foreign intervention in Latin America”. Dozens of activists from across the UK expressed their support for a range of Latin American causes.

Saturday, June 6th 2015 - 09:46 UTC

Falklands oil companies planning to continue drilling into next year

“I can't go to Argentina and nearby countries. But operationally, this has no effect,” Tim Bushell, Falkland Oil and Gas chief executive, said.

Falkland Oil and Gas plans to continue drilling into next year, its chief executive said, defying legal threats made by the Argentine government against oil explorers in the Falkland Islands.

Saturday, June 6th 2015 - 08:24 UTC

US unemployment in May ups to 5.5%, as more people look for jobs

The economy is expected to return to growth in the second quarter, after an unexpected contraction because of harsh weather and West Coast ports' strike

The US economy added 280,000 jobs in May, the US Labor Department has said. The increase was more than analysts had expected and the biggest this year and was described as “encouraging”.

Saturday, June 6th 2015 - 08:00 UTC

Argentine debt climbed 5.4bn of Friday following Griesa's ruling favoring 'me too' bond holders

Griesa said the “me-too” creditors held bonds that were substantially similar to those held by the hedge funds and thus should be treated the same way.

Argentina must pay US$5.4 billion to more than 500 “me-too” holders of defaulted debt before it can pay the majority of its creditors, a US judge ruled on Friday. Argentina anticipated it would appeal the ruling.

Friday, June 5th 2015 - 06:22 UTC

IMF calls on the Fed to keep rates on hold until first half of 2016

Lagarde said the risks of raising rates too soon outweighed the risk of keeping rates on hold and allowing inflation to slightly exceed the Fed's 2% target.

The International Monetary Fund urged the Federal Reserve to wait until the first half of 2016 to start raising short-term interest rates because the US economy remains subpar. In its annual checkup of the US economy released Thursday, the IMF said “the underpinnings for continued growth and job creation remain in place.”

Thursday, June 4th 2015 - 09:06 UTC

“No one can teach us how to make the economy grow”, blasts Cristina Fernandez

“Don't forget whenever a private enterprise or company has problems, there's the state to ensure workers are not left in the street”.

In a speech broadcasted live on Argentine national television and radio, President Cristina Fernández used most of the time to praise her government’s achievements insisting no one “can give us lessons on how to make the economy grow” and highlighting the role of the State.

Thursday, June 4th 2015 - 09:01 UTC

Brazil's fiscal consolidation insufficient to deal with debt levels, says Moody's

“The Rousseff administration set primary surplus targets of 1.2% GDP in 2015 and 2% in 2016...”but it is unlikely to meet those targets,” says Mauro Leos

Brazil's debt levels will continue to increase through 2016 and remain high despite the government's fiscal consolidation efforts, potentially weakening the sovereign's credit profile, says Moody's Investors Service.

Thursday, June 4th 2015 - 08:54 UTC

Despite a contracting economy Brazil increases basic interest rate to 13.75%

Minister Levy has pledged to deliver a primary surplus equal to 1.1% of GDP in 2015, a substantial improvement from last year's deficit of 0.6% of GDP

Brazil raised interest rates to the highest levels in more than six years on Wednesday, extending a tightening campaign and leaving the door open for more hikes despite concerns that steep borrowing costs could deepen an expected economic recession.

Thursday, June 4th 2015 - 08:45 UTC

IMF gives Argentina more time to remedy quality of official CPI and GDP data

Director Lagarde made the presentation that decided Argentina will be given one more year to fully implement the changes agreed with the Fund

The International Monetary Fund extended the period given to Argentina to remedy its local statistical measurement tools, while recognizing the country has made advancements in the matter. The IMF directive board met on Wednesday in Washington to assess Argentina's statistical indexes.

Advertisement

Get Email News Reports!

Get our news right on your inbox.
Subscribe Now!

Advertisement