Economy

Wednesday, February 26th 2014 - 06:50 UTC
How much does the taxman take, according to PWC and OECD?

Tax rates do vary dramatically depending on which country you live in. The accountancy firm PricewaterhouseCoopers (PWC) has crunched the numbers for the G20 nations. For each country, they calculated how much a high earner on a salary of $400,000 (£240,000) in 2013, with a mortgage of $1.2m (£750,000), would have left after all income tax rates and social security contributions.
Tuesday, February 25th 2014 - 20:43 UTC
Repsol board approves the YPF compensation deal worked out with Argentina

Spanish oil major Repsol's board approved on Tuesday in Madrid a definitive 5 billion dollars settlement from Argentina over assets seized in 2012, drawing a line under a two-year battle for compensation.
Tuesday, February 25th 2014 - 04:41 UTC
Falklands oil company completes 3D survey; prepares drilling program for next year

Falkland Oil and Gas Ltd, FOGL, announced on Monday the completion of its 3D seismic survey offshore the Falkland Islands. This is the third and final 3D survey prior to the next drilling program, which is expected to commence in early 2015, said the company in a release.
Tuesday, February 25th 2014 - 04:36 UTC
Mexican billionaire Slim and Protto group, to become main shareholders of New York Times

Mexican magnate Carlos Slim and the Italian group Proto will be the principal shareholders of the US daily The New York Times (NYT), said sources at the Proto Organization. This is because Slim plans to exercise at the end of this year warrants he received when he made a major loan to the newspaper company, according to a report in Bloomberg.
Tuesday, February 25th 2014 - 04:21 UTC
US embassy support for Argentina's move to orthodox economics

The US embassy's business adviser in Buenos Aires, Kevin Sullivan, has welcomed negotiations between the Argentine government and Spanish corporation Repsol over the expropriation of YPF, as well as further talks with the Paris Club over the payment of outstanding debt commitments.
Tuesday, February 25th 2014 - 04:19 UTC
Barca pays 13.5m Euros on the contract of Neymar after charges of tax-fraud

Barcelona have made a payment of 13.5 million Euros ($18.53 million) to the Spanish treasury, after they were charged last week with tax fraud in the signing of Brazil forward Neymar.
Tuesday, February 25th 2014 - 04:13 UTC
Pope overhauls Vatican finances and names Secretariat for the Economy

Pope Francis has taken his boldest step yet to overhaul the Vatican's scandal-plagued finances, creating a new department with broad powers to oversee all of its economic and administrative affairs, the Vatican announced on Monday. The Secretariat for the Economy will answer directly to the pope and will be headed by Australian Cardinal George Pell, currently the archbishop of Sydney.
Monday, February 24th 2014 - 06:49 UTC
Magallanes the fastest and strongest growing region of Chile last year

Magallanes, in the extreme south of Chile plus Aysén and Tarapacá are the regions which registered the best performance in 2013 according to the country's indicator of regional economic activity, Inacer, which is released by the country's Stats Office, INE.
Monday, February 24th 2014 - 06:42 UTC
Sao Paulo protest against World Cup and demand more hospitals and schools

Brazilian police used tear gas and made an estimated 230 arrests on Saturday evening to disperse a protest in Sao Paulo ahead of the World Cup. Among those arrested in Brazil's business hub, which will host the opening match of the World Cup on June 12, were five journalists, O Estado de Sao Paulo daily reported.
Monday, February 24th 2014 - 06:40 UTC
World top economies pledge 2% growth in next five years and millions of jobs

The world's top economies have embraced a goal of generating more than 2 trillion dollars in additional output over five years while creating tens of millions of new jobs, while also promising more transparency in monetary policy to allay the concerns of emerging economies.