Politics

Politics
Friday, July 24th 2015 - 11:18 UTC

More job losses coming to U.S. shale

With prices of both Brent and WTI moving towards $50 per barrel, this is bad news for the U.S. shale sector which is already dealing with rising debt

With the recently concluded nuclear deal between Iran and the P5+1 countries, oil prices have already started heading downward on sentiments that Iran's crude oil supply would further contribute to the already rising global supply glut. The economic crisis in Greece, OPEC's high production levels and China's market turmoil have created more pressure on oil prices, making a price rebound look highly unlikely in the near future.

Friday, July 24th 2015 - 11:02 UTC

US filings for unemployment benefits fall to its lowest since 1973

The bullish jobs picture, together with a firm housing market brings the Federal Reserve a step closer to hike interest rates this year.

The number of US citizens filing new applications for unemployment benefits last week dropped to its lowest level in more than 41 and a half years (1973), suggesting the labor market maintained a sturdy pace of job growth in July.

Friday, July 24th 2015 - 10:15 UTC

Japan's largest media company buys the Financial Times in a £844m deal

The battle for the FT turned into a duel between Nikkei and Axel Springer, two groups keen to develop their global presence in the English-language market.

Nikkei, Japan’s largest media company, is to buy the FT Group from Pearson for £844m, after stunning its rival bidder Germany’s Axel Springer with an eleventh hour offer for the London-based global news organisation. The deal marks the end of an era, bringing the curtain down on Pearson's 58 year ownership of the Financial Times at a time of upheaval in the global media industry.

Friday, July 24th 2015 - 09:38 UTC

ExxonMobil find in Guyana's waters could be worth 12 times the country's GDP

Liza-1 was drilled in the Stabroek Block and encountered more than 295 feet of “high-quality oil-bearing sandstone reservoirs.”

The Exxon Mobil oil find in Guyana, which has triggered a strong reaction from neighboring Venezuela could be worth 12 times more than that nation’s GDP. In effect according to a Guyanese minister, the find at Liza-1well in offshore Guyana could be worth about $40 billion at current international crude prices.

Friday, July 24th 2015 - 09:02 UTC

Bermuda Premier calls on British Overseas Territories for a 'united front'

The meetings are intended as a planning session to discuss issues affecting the BOTs in advance of a Joint Ministerial Conference scheduled for November (Pic Bernews)

Bermuda Premier Michael Dunkley called for the British Overseas Territories (BOTs) to present a united front in key areas and for the leaders to work together to best represent the people of the region. Premier Dunkley opened on Thursday the Pre-Joint ministerial council which convened leaders from several BOTs including the Falklands MLA Roger Edwards, as reported by the island's Royal Gazette.

Friday, July 24th 2015 - 06:01 UTC

Falklands/Malvinas: Argentina asks why UK is not punished for not complying with UN

“Why some countries are punished if they don't accept UN resolutions, while others that are founding members” can look aside and not comply asked Filmus

Argentine diplomats questioned in Montevideo why the United Kingdom is not punished for its denial to comply with the UN General Assembly Resolution from 1965 which calls on Argentina and the UK to sit and dialogue on the Falklands/Malvinas dispute. They also denied any attempts from Argentina to suffocate the Falklands economy or hydrocarbons industry.

Thursday, July 23rd 2015 - 08:52 UTC

Brazil's recession expected to continue next year according to top bank

Ilan Goldfajn  forecasts a drop of 2.2% in 2015 and 0.2% in 2016, down from previous estimates a 1.7% decline in 2015 and an increase of 0.3% in 2016.

Brazil's recession will extend into next year, hurting President Dilma Rousseff's efforts to shore up public finances and arrest a sharp increase in unemployment, Itau Unibanco's chief economist said in a report on Wednesday. Ilan Goldfajn forecasts a drop of 2.2% in 2015 and 0.2% in 2016, down from previous estimates for a decline of 1.7% in 2015 and an increase of 0.3% in 2016.

Thursday, July 23rd 2015 - 08:18 UTC

Protesting French farmers promised €600m of emergency government help

“The demonstrations of the past few days underline an anger, an anxiety, a distress that we have seen for a long time”, said Manuel Valls, France’s PM

Dramatic protests across the north of France have won the country’s farmers €600m of emergency government help. This week thousands of tractors blockaded motorways and brought cities to a standstill, as the plight of producers dominated the nation’s news.

Thursday, July 23rd 2015 - 08:02 UTC

Brazil slashes fiscal savings' goals for 2015 and 2016 on plunging tax revenue

“The target revision should not be taken as a sign that we are abandoning the fiscal adjustment” said Finance Minister Joaquim Levy

Brazil dramatically lowered its fiscal savings goals for 2015 and 2016 on Wednesday due to plunging tax revenues, and announced new spending cuts to underscore its commitment to austerity. The government cut its primary surplus goal for this year to 8.7 billion reais ($2.70 billion), or 0.15% of GDP, from 66.3 billion reais, the equivalent of 1.1% of GDP, originally budgeted.

Thursday, July 23rd 2015 - 07:24 UTC

Over half of Argentina households belong to the middle class; only second to Uruguay

According to the PEW study, Argentina tops ranking of middle class growth, 17.5% and is among the three leading 'middle classs' countries

Argentina is the Latin American country where the middle class has grown the most in ten years, doubling in size, according to a report released by the Pew Research Center in the United States.

Advertisement

Get Email News Reports!

Get our news right on your inbox.
Subscribe Now!