Economy

Wednesday, July 10th 2013 - 06:01 UTC
Storm clouds ahead for Chilean economy as world copper prices continue to fall

Chile cut its copper output forecast for the year to 5.53 million tons due to setbacks at certain mines, though production is still expected to jump from 2012 as a new deposit comes online, the mining ministry said this week.
Wednesday, July 10th 2013 - 05:57 UTC
Global Euro use slips in 2012; Dollar remains king; Canada and Australian currencies emerge

International use of the Euro slipped last year because of the debt crisis in Europe, but the US dollar held its own as the world’s leading currency for reserves held by central banks, according to the European Central Bank.
Wednesday, July 10th 2013 - 05:50 UTC
NYSE takes control of LIBOR setting, following collusion from leading banks

The owner of the New York Stock Exchange is set to take control of a key scandal-hit bank interest rate. NYSE Euronext has won the contract for setting the London Inter-bank Offered Rate (Libor), a government-backed committee announced. Libor is used to set trillions of dollars of financial contracts.
Wednesday, July 10th 2013 - 05:42 UTC
Chile inflation spikes in June but ends in the first half year at 1.9%

Chile's consumer inflation was up 0.6% in June, the biggest increase in eight months and slightly above expectations as costs jumped for accommodation, electricity, fuel products and water, the government said on its latest stats report.
Wednesday, July 10th 2013 - 05:39 UTC
IMF anticipates slower growth for Chile’s export dependent economy

Growth in Chile's export-dependent economy will slow to 4.6% this year due to softer copper prices, investment and domestic demand, the IMF said in a report posted on the central bank's website earlier this week. In April, the IMF projected the economy of the world's leading copper producer would expand by 4.9% in 2013.
Monday, July 8th 2013 - 07:06 UTC
Teamsters bring Argentina to a stop and challenge fiscal policy and income tax

Argentina’s teamsters union headed by the powerful leader Hugo Moyano, a former ally of the government and currently one of her most aggressive adversaries, has declared a national strike on Monday which in practical terms means the country is in full campaign ahead of the mid term October election when President Cristina Fernandez will try by all means to retain control over Congress.
Monday, July 8th 2013 - 06:46 UTC
Over a third of Argentine population in poverty conditions says food and nutrition report

At least 17.8% of the Argentine population lives in indigence conditions, taking as reference a ‘Healthy Food Basket’ which estimates family monthly needs in 3.700 Pesos which is more that five times the official stats office Indec reference sum of 730 Pesos.
Monday, July 8th 2013 - 04:10 UTC
South Georgia government issues coin depicting a Weddell Seal pup

The South Georgia & South Sandwich Islands Government has released a Pobjoy Mint new coin that depicts a Weddell Seal pup. The species is native to Antarctica and lives further south than any other mammal.
Saturday, July 6th 2013 - 06:44 UTC
US economy adds more jobs than forecasted; markets looking at the Fed’s reaction

The US economy added a net 195,000 new jobs in June, official figures show. The figure was well above economists' expectations of 165,000. Revisions to data for April and May added a further 70,000 jobs to previous estimates. This means the jobless rate remained steady at 7.6% of the workforce, according to data from the Bureau of Labour Statistics.
Friday, July 5th 2013 - 23:52 UTC
Brazil cuts spending determined to ensure 2.3% primary surplus, pledges Mantega

Brazil announced on Friday it will immediately cut government spending by 6.65 billion dollars to balance the budget and achieve the goal of a primary fiscal surplus of 2.3% of GDP. The decision is seen as a strong signal to recover investors’ confidence following weeks of turmoil and poor performance of the economy.