Economy

Monday, December 23rd 2024 - 22:19 UTC
Nissan and Honda sign MOU toward merger by 2026

It was more than rumors that Japanese automotive giants Nissan and Honda were eyeing a merger by 2026 which would revolutionize the industry with the appearance of what in Reuters' view would be the third-largest auto group worldwide. The two companies signed a memorandum of understanding whereby discussions about integration via a joint holding company would go on during 2025, it was announced. Earlier this month, Nissan's CEO Makoto Uchida admitted that the company's situation was “severe.”
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Monday, December 23rd 2024 - 10:59 UTC
Trump picks Claver-Carone for State Dept. Latin American branch

US President-elect Donald Trump announced Sunday he had chosen former Inter-American Development Bank (IDB) Mauricio Claver-Carone as his future State Department's Envoy to Latin America. The Cuban-born Claver-Carone was appointed to the IDB at Trump's request in 2020 but was dismissed amid an affair with a subordinate whom he had given a pay raise.
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Saturday, December 21st 2024 - 10:55 UTC
Indec says Argentina's economy contracted 2.7% through October

A report released Friday by Argentina's National Institute of Statistics and Census (Indec) showed that the country's economic activity fell by 0.7% in October for an accumulated 2.7% interannual contraction in the first ten months of 2024, driven particularly by fishing (-49.9%) and construction (-14.5%) amid President Javier Milei's austerity plans which included halting all public works.
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Friday, December 20th 2024 - 10:30 UTC
Brazil's real recovers against US dollar

Brazil's Central Bank (BCB) successfully maneuvered Thursday and got the US dollar to fall against the local real after volatility gripped financial markets amid President Luiz Inácio Lula da Silva's planned taxation reforms, Agencia Brasil reported. The US currency closed at R$ 6.12 following Congressional approval of the Government's legal package.
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Friday, December 20th 2024 - 10:17 UTC
Bank of England leaves rate unchanged at 4.75%, but inflation is increasing with a no economic growth in 2024

The Bank of England on Thursday left interest rates unchanged at 4.75%, despite an inflation rate that reached an eight-month high, pushed by services and wage increases. However three members of the Bank’s Monetary Policy Committee voted for a rate reduction, while six insisted in keeping them on hold.
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Thursday, December 19th 2024 - 22:03 UTC
IMF admits new loan to Argentina under consideration

International Monetary Fund (IMF) Spokeswoman Julie Kozack admitted Thursday that “talks are underway” to grant Argentina a new loan. The South American country is reportedly eligible for such a disbursement given the impressive achievements of President Javier Milei's “chainsaw” adjustment policies. The program currently in force ends this year and Argentina still owes around US$ 1 billion.
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Thursday, December 19th 2024 - 09:11 UTC
Uruguay: Unemployment falls in November

Unemployment in Uruguay fell to 7.2% of the Economically Active Population (EAP) last month, which represented a slight improvement from October’s 7.3%, according to the latest report from Montevideo's National Statistics Institute (INE) this week. It was the lowest figure since December 2021.
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Wednesday, December 18th 2024 - 22:17 UTC
US dollar soars in Brazil amid fiscal uncertainty

Amid uncertainty stemming from President Luiz Inácio Lula da Silva's planned measures, the US dollar soared Wednesday against the Brazilian real, hitting a new record of R$ 6.26 = US$ 1 while the stock market fell above 3%, also driven by the 0.25 percentage point interests cut by the US Federal Reserve (Fed).
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Wednesday, December 18th 2024 - 10:59 UTC
EU/Mercosur trade deal: How detrimental for Mercosur and how beneficial for EU farmers?

A few days after European Commission President Ursula von del Leyen signed a long-pending trade agreement with four South American nations, French farmers were back on the streets dumping manure. This time they parked the tractors near the tunnel in Calais that goes through the English Channel, according to a report from German political and business analyst Uwe Hessler.
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Wednesday, December 18th 2024 - 10:22 UTC
Brazil: Selic rate expected to keep growing next year

Brazil's Central Bank's (BCB) Monetary Policy Committee (Copom) said Tuesday in a document that further hikes to the basic interest rate (Selic) were not to be ruled out next year given the rise of the US dollar against the Brazilian real, which crossed the BR$ 6 / US$ 1 barrier after the fiscal package announced by the Government of President Luiz Inácio Lula da Silva in recent days negatively impacted the market.
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