Economy

Wednesday, November 26th 2014 - 09:56 UTC
US economy stronger and growing sturdier than most forecasts

The US economy grew much faster in the third quarter than first reported, official figures have shown. It expanded at an annual zed rate of 3.9% between July and September, up from the 3.5% first estimated by the Bureau of Economic Analysis.
Wednesday, November 26th 2014 - 09:41 UTC
Pacific Alliance and Mercosur represent 90% of Latam and Caribbean GDP

The Pacific Alliance (PA) and the Common Market of the South (Mercosur) combined represent more than 80% of regional foreign trade as well as population, and more than 90% of GDP and direct foreign investment flows, according to a new report by the Economic Commission for Latin America and the Caribbean (ECLAC).
Wednesday, November 26th 2014 - 06:56 UTC
Ana Botin reshuffles Santander, names new CEO and promotes other managers

Spain's Santander, the biggest bank in Europe by market value, reshuffled its command naming Jose Antonio Alvarez as its new chief executive replacing Javier Marin after his two years in the job, the bank said in a statement.
Wednesday, November 26th 2014 - 06:48 UTC
Follow the sand to the real fracking boom

$This all puts frac sand in the drivers’ seat of the next phase of the American oil boom, and it has already seen its price increase up to 20% over the past year$

When it takes up to four million pounds of sand to frack a single well, it’s no wonder that demand is outpacing supply and frack sand producers are becoming the biggest behind-the-scenes beneficiaries of the American oil and gas boom.
Tuesday, November 25th 2014 - 06:57 UTC
Busy October in South Georgia: 21 harbor calls and 400 paying cruise visitors

October was a busy month for shipping activities in South Georgia with 21 harbor visits to Cumberland Bay and nearly 400 paying passengers visiting, according to the latest edition (October) of the South Georgia News and Events release.
Monday, November 24th 2014 - 07:44 UTC
IMF monitoring impact of Venezuela's economic stress for Caribbean islands

The International Monetary Fund (IMF) says it is monitoring the potential impact any changes to PetroCaribe, Venezuela’s oil alliance with several Caribbean islands will have on regional economies.
Monday, November 24th 2014 - 07:25 UTC
Britain confirms financial assistance to five Eastern Caribbean countries

Britain is providing assistance to five Eastern Caribbean countries “to help them return to economic growth while managing the risks from external shocks”. The Department for International Development (DFID) Caribbean says it will work closely with Antigua and Barbuda, Grenada, St Lucia, St Vincent and the Grenadines and Dominica under the new program that runs until 2020.
Monday, November 24th 2014 - 06:37 UTC
Argentine central bank discards 'any devaluation' of the Peso in 2015

The head of Argentina's Central Bank Alejandro Vanoli reaffirmed that “there won’t be a devaluation” of the Peso next year and stressed that the government of President Cristina Fernandez will not give in to pressure from the financial market and the export sector.
Saturday, November 22nd 2014 - 09:19 UTC
Brazil committed to advance with EU/Mercosur trade negotiations

Brazil must speed international trade agreement negotiations, said cabinet chief Aloizo Mercadante, in direct reference to Mercosur and demanding an end to internal disputes.
Saturday, November 22nd 2014 - 09:13 UTC
Argentina's economy weakens in September, according to official stats

Argentina's economy weakened slightly in September as high inflation and declining purchasing power curbed sales and industrial production. A proxy for economic growth published by the government fell 0.2% on the year, the national statistics agency Indec reported Friday.