Economy

• Thursday, May 1st 2014 - 07:33 UTC

  Brazil raises taxes on beer and sodas; primary surplus slightly down in March

  

  The Brazilian government will raise taxes on beers, sodas and other beverages in a move that will raise an extra 1.5 billion Reais (674 million dollars) in revenue to help meet the fiscal savings goal. Earlier this month, the government had already announced a tax hike on beer to bolster fiscal accounts that have been hit hard over the last three years by rising subsidies, higher spending and an economic slowdown.

• Thursday, May 1st 2014 - 06:58 UTC

  Fed optimistic about US economy; pares securities purchases by another 10bn dollars

  

  The Federal Reserve looked past a dismal reading on first quarter US growth and gave a mostly upbeat assessment of the economy's prospects as it announced another cut in its massive bond-buying stimulus. Latest information indicates that economic activity has picked up after having slowed sharply during the winter in part because of adverse weather conditions, the central bank said on Wednesday.

• Wednesday, April 30th 2014 - 09:22 UTC

  Argentina and Brazil agree to further integrate and prop their auto industries

  

  Argentina and Brazilian officials agreed to continue meeting regularly to solve as soon as possible bilateral trade problems mainly those referred to the auto industry. On Tuesday Argentine Finance minister Axel Kicillof and Industry minister Deborah Giorgi met their Brazilian counterparts, Guido Mantega and Mauro Borges in Brasilia.

• Wednesday, April 30th 2014 - 09:18 UTC

  Argentina's top auto industry leader calls for new markets and lower costs

  

  One of Argentina's main industry leaders Fiat Argentina CEO Cristiano Rattazi denied the existence of a “serious situation” in the automobile industry, “so far” and pointed out the need to “seek new markets” to reverse current downward trends in car manufacturing.

• Wednesday, April 30th 2014 - 09:14 UTC

  Latam and Caribbean forecasted to expand 2.7% on average this year

  

  Latin American and Caribbean countries are estimated to grow an average 2.7% in 2014 as the region's main economies have limited dynamism according to ECLAC's Updated Economic Review of Latam and the Caribbean 2013, released on Tuesday.

• Wednesday, April 30th 2014 - 08:57 UTC

  Poverty in Argentina stands at 27.5% of population, says Catholic University

  

  Poverty and indigence in Argentina in the last quarter of 2013 again increased and reached 27,5% of the population and 17.8% of households, according to the latest report from the Catholic University Social Debt Observatory, UCA.

• Wednesday, April 30th 2014 - 03:49 UTC

  Holdout hedge funds admit they prefer to negotiate with whoever succeeds Cristina Fernandez

  

  Elliot Management Hedge Fund claimed on Tuesday that President Cristina Fernández administration refuses to negotiate a solution over Argentine debt in default, stating that they would prefer to seek a solution with the head of state's successor in 2015.

• Tuesday, April 29th 2014 - 21:24 UTC

  IATA calls on Venezuela to honor payment of airline funds, totaling 3.9bn

  

  The International Air Transport Association (IATA) called on the Venezuelan government urgently to honor its commitment made in March to permit the repatriation of 3.9 billion dollars of airline funds at fair exchange rates. The funds are from sales of airline tickets in Venezuela and are being held in contravention of international treaties.

• Tuesday, April 29th 2014 - 06:31 UTC

  Argentina and Brazil plan to prop economies by stimulating the auto industry

  

  Argentine Economy Minister Axel Kicillof and Industry Minister Débora Giorgi fly to Brasilia on Tuesday in a bid to swing the automobile trade balance in Argentina’s favor, with the sector accounting for the majority of a total 3.15 billion dollars trade deficit. From Brazil Finance minister Guido Mantega confirmed bilateral discussions on the auto industry and exports.

• Tuesday, April 29th 2014 - 06:03 UTC

  Three former Barclays employees charged with manipulation of Libor rate

  

  Three former employees of Barclays have been charged in connection with the alleged manipulation of the London Interbank Offered Rate (Libor). The Serious Fraud Office, SFO, said Jay Vijay Merchant, Alex Julian Pabon and Ryan Michael Reich had been charged for “conspiracy to defraud”.