Stories for May 2014

Saturday, May 10th 2014 - 00:21 UTC
German exporters say they can cope with a strong Euro

German exporters are well-positioned to cope with the strong Euro, Germany's leading trade organization said on Friday, even after data showed exports posted their biggest fall in nearly a year in March.
Saturday, May 10th 2014 - 00:13 UTC
ECB ready to take action against low inflation and strong Euro, says Dragui

The European Central Bank is ready to take action next month to boost the Euro zone economy if updated inflation forecasts merit it, said ECB president Mario Dragui warning outsiders not to pressure the bank into action.
Saturday, May 10th 2014 - 00:05 UTC
Despite some setbacks, FAO expects second largest cereal production this year

Weather conditions in various countries and political tensions in the Black Sea region have made food markets more volatile, FAO reports in the new Food Outlook. In its first major forecast for 2014, FAO puts cereal production at 2 458 million tons (including milled rice), down some 2.4% from the 2013 record, though global output is still expected to be the second largest ever.
Friday, May 9th 2014 - 22:15 UTC
Bank of England leaves rates unchanged as UK economy recovers

Interest rates have been held at the record low of 0.5% for another month by the Bank of England and so has the size of its bond-buying economic stimulus program unchanged at £375bn.The news is in line with analysts' expectations, despite recent evidence that the UK economic recovery is strengthening.
Friday, May 9th 2014 - 07:35 UTC
Chaos in Sao Paulo and Rio, as protestors take to the streets 35 days ahead of the Cup

Two of Brazil's major cities which will be hosting matches of the World Cup in 35 days time, were in chaos on Thursday because of protests from the Landless Peasants and Homeless Workers in Sao Paulo and a bus drivers' strike in Rio do Janeiro.
Friday, May 9th 2014 - 07:20 UTC
The 'indigence' basic food basket in Argentina climbed 40% in 12 months

An average Argentine family during the month of April needed 4.779 Pesos (approx. 600 dollars) not to be included in the poverty category, which represents an increase of 1.6% over March, of 20% in the first four months of the year and 40.5% in the last twelve months, according to the latest report from the Latin American Economic Research Foundation, FIEL.
Friday, May 9th 2014 - 07:11 UTC
Holdout bondholders tell US Supreme Court Argentina's case is “undeserving of review”

Holders of Argentine sovereign debt this week asked the U.S. Supreme Court not to hear that country's appeal of lower court decisions ordering it to pay them 1.33 billion dollars in a case Argentine officials warn could force it to default on its sovereign debt.
Friday, May 9th 2014 - 07:01 UTC
Repsol/YPF 'marriage' definitively over; Spanish company ends 15-year presence in Argentina

Spanish oil major Repsol signed a definitive settlement agreement Thursday with Argentine President Cristina Fernandez's administration, which transferred more than 5 billion dollars in bonds as compensation for the 2012 seizure of Repsol's controlling stake in energy firm YPF.
Friday, May 9th 2014 - 06:47 UTC
Brazil says Mercosur/EU to meet in Brussels at the end of May for trade talks

At the end of May Mercosur will be ready to exchange tariff-reduction proposals with the European Union, announced Brazilian Industry minister Mauro Borges who also anticipated the trade block would be holding a preparatory meeting next week in Caracas, Venezuela.
Friday, May 9th 2014 - 06:42 UTC
Fed in no rush to address its balance sheet; calls on Senate for fiscal restraint

The US Federal Reserve is in no rush to decide the appropriate size of its balance sheet, but if it ultimately shrinks it to a pre-crisis size, the process could take the better part of a decade, Fed Chair Janet Yellen has said.