Brazil's jobless rate rose in August to its highest in six months despite stronger job creation, adding to signs that the economic recession is eroding a robust labor market. The non-seasonally adjusted jobless rate stood at 5.0 percent in August, up from 4.9% in July, statistics agency IBGE announced.
Airlines across Europe have been cleared to allow passengers' use of mobile phones and portable electronic devices (PEDs) throughout flights. The European Aviation Safety Agency (EASA) said there would be no restrictions in place from a safety perspective - a long-held reason for devices to be turned off or placed in airplane mode.
The US economy grew at an annual rate of 4.6% between April and June, faster than the previous estimate of 4.2%, according to revised figures from the US Department of Commerce. The revision was due to larger rises in exports and business investment.
The UK Parliament has backed British participation in air strikes against Islamic State extremists in Iraq. After a seven-hour debate, MPs voted for military action by 524 votes to 43. Bombing could start as early as Sunday according to defense sources.
By Arturo Porzecanski of American University (*) - Jose Antonio Ocampo, a former United Nations official and co-president with Prof. Joseph Stiglitz of Columbia University’s Initiative for Policy Dialogue, which promotes the adoption of heterodox economic policies in developing countries, recently wrote a guest post welcoming a UN General Assembly resolution calling for the launch of negotiations on a multilateral framework for sovereign debt restructuring.
The United Nations Human Rights Council meeting in Geneva on Friday adopted an Argentine-fueled resolution which condemns the so called 'holdouts' or “vulture funds”, currently in a legal dispute against the country.
Brazilian presidential candidate Marina Silva vowed to de-politicize regulatory agencies that she says do more to win favor with government allies than ensure fair and efficient markets in Latin America's biggest economy.
Dilma Rousseff has stopped her erosion in opinion polls as she seeks a second term as Brazil’s president, even reversing the trend with only days left before the election, greatly thanks to her predecessor and mentor Lula da Silva.
US Assistant Secretary of State for the Western Hemisphere Roberta Jacobson has said the bilateral relationship with Argentina is going through a “difficult period”, but stated the legal battle between that country and holdouts is not a “political problem” but a “judicial problem.”
Angela Merkel’s administration attempted to lower tensions with the Argentine government on Thursday following controversial statements made by German Finance Minister Wolfgang Schauble regarding the so called 'holdouts' or 'vulture funds' conflict.