Wednesday, July 13th 2016 - 06:58 UTC

G20 trade ministers Shanghai meeting question China's industries overcapacity

 “We agree that we need to do more to achieve our common objectives for global growth, stability and prosperity.” said China’s Commerce Minister Gao Hucheng

In the face of a “worrying” rise in protectionism, trade ministers from the world’s major economies have agreed to cut trade costs, increase policy coordination and enhance financing, China’s Commerce Minister Gao Hucheng announced at the closing of the Group of 20, G20, meeting in Shanghai.

Wednesday, July 13th 2016 - 06:30 UTC

HSBC 2012 money laundering was so great that if charged it could have led to 'a global financial disaster'

The bank, which has its headquarters in London, paid a US$1.92bn settlement but did not face criminal charges . No top officials at HSBC faced any charges.

United States officials refused to prosecute HSBC for money laundering in 2012 because of concerns within the Department of Justice that it would cause a “global financial disaster”, a report says. A US Congressional report revealed UK officials, including Chancellor George Osborne, added to pressure by warning the US it could lead to market turmoil.

Monday, July 11th 2016 - 07:24 UTC

IMF lowers Euro Zone growth prospects because of Brexit and extended risk aversion

The Euro zone is now  expected to grow by 1.6% this year and 1.4% in 2017. Before the referendum the IMF had predicted growth of 1.7% for both years.

The International Monetary Fund has cuts its economic growth forecasts for the Euro zone in the wake of the UK's vote to leave the European Union. The Euro zone is now expected to grow by 1.6% this year and 1.4% in 2017.

Monday, July 11th 2016 - 07:21 UTC

US employment rebounds strongly during June

Manufacturing employment rose by 14,000, there were 29,900 more jobs in the retail sector, and the leisure and hospitality sectors gained 59,000 jobs

US economy created 287,000 jobs in June, rebounding strongly from disappointing growth in May. The figure was much stronger than forecast, and the dollar and yields on US government bonds rose in the belief a US rate rise was now more likely.

Monday, July 11th 2016 - 06:20 UTC

The Pound beats the Argentine Peso as worst performing currency in 2016

Some analysts are convinced the pound still has further to fall, with some predicting lows of US$ 1.20 against the dollar in the next three months.

The pound has beaten the Argentine peso to become 2016's worst performing currency after it plunged to a 31-year low in the aftermath of the decision to leave the EU. Sterling dipped below US$1.30 for the first time since 1985 in the second week after the European referendum.

Monday, July 11th 2016 - 06:07 UTC

Brazilian army take to the streets in a display of force in anticipation of the Olympic Games

Armored vehicles and trucks carrying troops were accompanied by soldiers decked out in camouflage gear and matching helmets, with rifles slung over their shoulders.

Brazilian soldiers were on the streets last Saturday, checking out spots around the city that will get intense security when the Rio de Janeiro Olympics open in under four weeks. Armored vehicles and trucks carrying troops were accompanied by soldiers decked out in camouflage gear and matching helmets, with rifles slung over their shoulders. The soldiers covered the city, from Copacabana Beach to the central train station and the renovated port area.

Monday, July 11th 2016 - 05:08 UTC

Meirelles budget lower deficit objective prevails in the Temer administration

“It was not an easy process to come up with this target,” Meirelles told reporters. “It will require a tremendous effort from our end to achieve the goal.”

Brazil set a smaller 2017 primary deficit target than initially envisioned, in an attempt to show greater austerity after an increase in spending raised doubts about the government's fiscal discipline. The central government primary deficit target was set at 139 billion Reais (US$41.32 billion) for 2017, a figure well below the 160 billion Reais it initially considered.

Monday, July 11th 2016 - 05:04 UTC

Brazil's six-month inflation remains above same period last year and central bank target

Despite a slower tendency in June, half year inflation, 8.84%, is above the 6.17% of the first half of last year

Inflation in Brazil fell in June by 0.35% to an annual rate of 8.84%, but remains almost double the government target, official figures showed. This was an improvement from May, when inflation hit 9.32%, temporarily reversing a three-month falling trend.

Friday, July 8th 2016 - 09:47 UTC

Macri extends business tour to Idaho for a techno conference presided by Bill Gates

Among the attendants are Bill and Melinda Gates (Microsoft), Larry Page (Google), Mark Zuckerberg (Facebook), media magnate Rupert Murdoch

Following his business promoting visit to France, Belgium and Germany, Argentine president Mauricio Macri is attending the Sun Valley Conference in the city of Idaho, United States, which is presided over by Microsoft creator Bill Gates.

Friday, July 8th 2016 - 04:53 UTC

A woman will succeed PM Cameron and lead UK's exit from EU

May promised “strong, proven leadership” to negotiate UK's EU departure and to “make UK a country that works not for a privileged few but for every one of us”.

Two women Theresa May and Andrea Leadsom are battling to become the next leader of the British Conservative party and thus prime minister, the first time since the late Margaret Thatcher. After the second MPs ballot on Thursday, Home Secretary May finished with 199 votes, Energy Minister Mrs. Leadsom 84 and Michael Gove, the justice secretary, 46.


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