The US government slashed its estimate for fourth-quarter growth as consumer spending and exports were less robust than initially thought, leaving the economy on a more sustainable path of modest expansion. GDP expanded at a 2.4% annual rate, the Commerce Department said on Friday.
Although the Falkland Islands has not yet signed up to the UN Convention on Biological Diversity (CBD) it is being actively considered, stated Environmental Officer Nick Rendell, responding to an article that criticized the fact that only four UK Overseas Territories have joined the treaty, reports the latest edition from the Penguin News.
One of Spain's leading fishing companies Pescanova (under administration) faces a decisive deadline for its future, while banks finalize the negotiation of a creditors’ agreement based on debt cuts and investment in the firm, according to Europa Press based on sources familiar with the situation of the company.
The proposal to create an international body within the UN governing the seas was the focus this week at the beginning of the Ocean Summit. In this international meeting, world leaders emphasized its fast degradation and increasing pressure to further exploit its resources.
The US Congress should look into legal options for regulating virtual currencies such as bitcoin, said Federal Reserve Chair Janet Yelleny. Japan-based bitcoin exchange Mt. Gox went dark leaving customers unable to access their accounts. Experts have warned they might not have much recourse to recover their money.
Cruise Critic has released its 2014 Cruise Critic U.K. Cruisers' Choice Awards, the cruise awards based entirely on reviews submitted by cruisers. Royal Caribbean rode the waves in the awards for the Large Ship class, with Serenade of the Seas, the third ship in the Radiance-class fleet, named Best Overall ship, Best Value-for-Money and Best Dining. Royal Caribbean's Adventure of the Seas took Best for Embarkation.
The Inter-American Development Bank (IDB) will hold its 2014 Annual Meeting in Bahía, Brazil, March 27-30, bringing top economic and business leaders to discuss how the private sector can help boost economic and social development in Latin America and the Caribbean.
Russia is planning to expand its permanent military presence outside its borders by placing military bases or seeking permission for navy ships to use ports in a number of foreign countries, Defense Minister Sergei Shoigu said on Wednesday. The list includes Vietnam, Cuba, Venezuela, Nicaragua, the Seychelles, Singapore and several other countries
The booming world fish trade is generating more wealth than ever before, but countries must help small-scale fishers and fish farmers benefit too, says FAO.
Income inequality can lead to slower or less sustainable economic growth, while redistribution of income, when measured, does not hurt and can even help an economy, IMF staff found in a research study released on Wednesday. Although the study by IMF economists does not reflect the Fund's official position, it is another sign of a shift in its thinking about income disparity.