Economy

• Friday, January 31st 2014 - 06:53 UTC

  US economy advancing at steady pace fuelled by robust consumer spending

  

  The U.S. economy advanced at a steady pace in the last months of 2013, growth that was fueled by robust consumer spending. The government's Commerce Department said Thursday the world's largest economy grew 3.2%t in the October-to-December period, following a 4.1% advance in the third quarter.

• Wednesday, January 29th 2014 - 22:38 UTC

  Brazil can't be hostage of Argentina or Venezuela in Mercosur/EU trade negotiations

  

  The Brazilian government is determined to advance with negotiations for a trade agreement between Mercosur and the European Union even if it means leaving Argentina for a second phase of the process, according to sources from Itamaraty, the country's foreign ministry, reported in the Rio do Janeiro media.

• Wednesday, January 29th 2014 - 21:36 UTC

  Hedge fund boss Singer rejects as 'bizarre' Argentine bondholders offer

  

  Paul Singer, head of Elliot Management Corp., defined as “bizarre”, the bondholders’ offer to resolve judicially the dispute with Argentina over the debt in default from 2001, during in a letter sent to investors and published by Bloomberg News.

• Wednesday, January 29th 2014 - 21:20 UTC

  Obama pledges support for the middle class and is prepared to bypass Congress

  

  US President Barack Obama displayed his strategy for getting around a divided Congress starting with a wage hike for federal contract workers in a State of the Union speech on Tuesday that reflected scaled-back legislative ambitions after a tough year.

• Wednesday, January 29th 2014 - 21:07 UTC

  Fed shaves another 10bn from stimulus; Turkey and South Africa raise rates

  

  The US Federal Reserve announced a $10bn reduction in its monthly bond purchases from 75bn to 65bn in the second straight month of winding down stimulus efforts. The central bank had been buying bonds in an effort to keep interest rates low and stimulate growth.

• Wednesday, January 29th 2014 - 21:00 UTC

  New York Times blasts Cristina Fernández: “Argentina on the brink”

  

  The New York Times published on Wednesday a very strong editorial criticizing the misguided policies of the government of President Cristina Fernandez, arguing that once again 'Argentina is on the brink”.

• Wednesday, January 29th 2014 - 20:31 UTC

  Lagarde admits volatility in global markets as strong economies tighten monetary policy

  

  Monetary policy tightening in advanced economies will cause volatility in international markets this year and impact the monetary situation of some emerging economies, IMF Managing Director Christine Lagarde cautioned on Wednesday.

• Wednesday, January 29th 2014 - 06:51 UTC

  Argentine foreign money market operating at 8.015 Pesos to the US dollar

  

  For second day running the Argentine foreign money market reacted with normality with the official rate of the US dollar closing at 8.015 Pesos, while the so called 'reference dollar' for savings traded at 9.62 Pesos and the 'blue' or parallel climbed 35 cents to 12.50 Pesos.

• Tuesday, January 28th 2014 - 22:44 UTC

  Hedge fund CEO says that dispute with Argentina could be settled 'in an afternoon'

  

  Paul Singer, CEO of hedge fund Elliott Management Corporation and who is litigating Argentina demanding full payment of defaulted bonds described Argentina's government policies as 'horrendous' and stated that 'talking' he could settle the dispute 'in an afternoon'.

• Tuesday, January 28th 2014 - 22:38 UTC

  Maduro wants Puerto Rico to join Celac, a territory 'free of colonies'

  

  President Nicolás Maduro described the current CELAC summit in Havana as historic and revealed Venezuela has proposed that the group's territories be considered 'free of colonies' and thus invites Puerto Rico to formally join Celac (Community of Latin American and Caribbean state).