Economy

Saturday, November 9th 2013 - 18:34 UTC
S&P downgrades France's credit rating but market reactions were contained

Another setback for the French government as the rating agency Standard & Poor’s cut its appraisal of the country’s credit worthiness. It reduced its rating one notch to AA from AA+.
Saturday, November 9th 2013 - 18:27 UTC
Bank of England leaves rates unchanged; focus on next week's inflation report

Bank of England has left interest rates unchanged at 0.5% and made no change to its program of quantitative easing, as had been widely expected. The decision came as no surprise as the Bank has said it will not consider a rate rise until the unemployment rate falls below 7%.
Saturday, November 9th 2013 - 18:21 UTC
US economy picking up: more jobs in October and 2.8% growth in third quarter

The US economy added a better-than-expected 204,000 jobs in October, according to the latest figures from the Labor Department. There had been fears that the 16-day shutdown of government services last month could have hit jobs growth.
Saturday, November 9th 2013 - 18:03 UTC
China begins secret meeting to decide reforms and course of next decade

China began a four-day secret meeting on Saturday to set a reform agenda for the next decade as they try to push more sustainable growth after three decades of breakneck expansion. But analysts have cautioned against expectations for big changes as they say stability remains the watchword for the leadership.
Saturday, November 9th 2013 - 17:55 UTC
Food commodity markets more balances and less price volatile, says FAO

Food commodity markets are becoming more balanced and less price volatile than in recent years thanks to improved supplies and a recovery in global inventories of cereals, according to FAO's Food Outlook report published on Friday.
Saturday, November 9th 2013 - 06:02 UTC
October inflation eases in Brazil but food prices keep steady

Consumer prices in Brazil edged up last month but remained stable at 5.8% over 12 months, the Brazilian Institute of Geography and Statistics (IBGE) reported Thursday. It put October inflation at 0.57%, up from 0.35% the previous month.
Saturday, November 9th 2013 - 05:54 UTC
Falklands: FOGL starts 3D seismic survey in north basin; drilling in late 2014

Falkland Oil and Gas Ltd, FOGL, announced on Friday it has started the third 3D seismic survey of its northern area licences in the Falkland Islands. The oil and gas exploration and development company with operations in the Falkland Island Basins said the PGS Ramform Titan ship has begun the survey over the mid-Cretaceous complex.
Saturday, November 9th 2013 - 03:31 UTC
Group of Argentine bondholders plan 'private debt swap' to holdouts

A group of Argentine bondholders will offer creditors suing for the repayment of defaulted sovereign debt a private deal to get them to abandon their litigation, the state-run Télam news agency said.
Saturday, November 9th 2013 - 03:27 UTC
IMF holding constructive talks with Argentina on inflation and GDP data

International Monetary Fund announced it was holding “constructive” talks with Argentina about addressing flawed economic data that led to an unprecedented IMF censure of a member country.
Friday, November 8th 2013 - 06:00 UTC
Venezuela joins the hyperinflation club: 54.3% in last twelve months and climbing

Venezuela's consumer prices rose 5.1% in October, pushing the 12-month inflation rate to 54.3%, the highest mark since the late President Hugo Chávez took power in 1999. The news was released by the central bank on Thursday which also revealed that the scarcity index had reached its highest level since 2009.