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MercoPress, en Español

Montevideo, November 23rd 2024 - 13:30 UTC

Economy

  • Tuesday, November 7th 2023 - 09:21 UTC

    Importance of Brazilian SMEs highlighted

    “Job generation ensures that Brazil once again becomes the country of employability,” said Décio Lima

    According to a study released Monday, small businesses account for 71% of the jobs created in Brazil until September this year, Agencia Brasil reported. The document showed some 1.5 million work opportunities had been opened nationwide, 211,764 of them formal.

  • Tuesday, November 7th 2023 - 08:25 UTC

    Biden envoy visiting Chile, Uruguay and Paraguay

    Fernandez’s presence is a move to neutralize China’s expansion in the region

    US Undersecretary of State for Economic Growth, Energy and Environment, José W. Fernández is on a South American tour with stops in Uruguay, Chile, and Paraguay to boost green energy developments in the region.

  • Monday, November 6th 2023 - 09:14 UTC

    AP Moller-Maersk cutting jobs as global shipping business declines strongly

    The Danish company said in a trading update last week that there had been “significant pressure on rates” in the past few months.

    AP Moller-Maersk announced it will be cutting 3,500 jobs because of a downturn in business. This adds to another 6,500 jobs cut earlier this year. The Danish company one of the largest global shipping enterprises said profits plunged 92% and a policy of rigorous containment had to be applies. It said “worsening” prices for shipping by sea required further job cuts.

  • Sunday, November 5th 2023 - 10:23 UTC

    UK economy on flat growth track, with decreasing inflation, BoE report

    Governor of BoE Andrew Bailey said “we'll be watching closely to see if further rate increases are needed.”

    The UK economy is on flat growth for a couple of years, while government forecasts of greater activity vanish, and the Bank of England could still rise interest rates further. In effect the BoE has warned rates will remain high for some time or even rise higher. Rate currently stands at 5,25%, the highest in fifteen years.

  • Friday, November 3rd 2023 - 08:59 UTC

    Paraguay just one notch short of Fitch's investment grade

    Inflation has fallen dramatically this year in Paraguay, Fitch also noted

    Paraguay was given a BB+ rating in Fitch's latest report, which is one step away from investment grade. Although in Asunción the South American country's Economy Ministry highlighted the achievement, the agency also warned about challenges in terms of credibility.

  • Thursday, November 2nd 2023 - 09:39 UTC

    Brazil cuts basic interest rate to 12.25% per year

    The Selic rate is the BCB's main instrument for managing official inflation

    Brazil's Monetary Policy Committee (Copom) unanimously decided Wednesday to reduce the economy's basic interest rate (known as the Selic rate) by 0.5 percentage points to 12.25% per year, Agencia Brasil reported.

  • Thursday, November 2nd 2023 - 09:14 UTC

    Price of fuel goes up in Argentine to secure supply

    Gasoline must not increase more than it should ahead of the presidential runoff, Massa argued

    Argentina's state-run oil company YPF ordered an average increase of 9.75% in the prices of gasoline and diesel oil at pumps, as the freezing deal between the Economy Ministry and fuel producers came to an end Oct. 31 following a 12.5% adjustment the week after the Aug. 13 Open, Mandatory, and Simultaneous Primary (PASO) elections and their ensuing devaluation of the local currency.

  • Thursday, November 2nd 2023 - 08:13 UTC

    Multiple cost of living support benefits ahead of winter, announces UK Conservative government

    The bus fare cap had been due to rise to £2.50 but it was decided to keep fares down at £2 until the end of next year to help millions of people

    Millions of households across the United Kingdom are set to receive significant cost of living support ahead of winter, with the British government freezing bus fares in England and the second cost-of-living payment – worth £900 in total - landing directly in bank accounts.

  • Wednesday, November 1st 2023 - 21:23 UTC

    BP third quarter profits lower than expected

    According to the company's report, “while oil production was strong, gas trading had been weak in recent months.”

    British Petroleum posted profits of US$ 3.3bn (£2.7bn) between July and September, lower than predictions of US$ 4bn. Earnings were down from US$ 8.1bn in the same period in 2022 when BP made huge profits following Russia's invasion of Ukraine, which led to oil prices soaring.

  • Wednesday, November 1st 2023 - 21:09 UTC

    Peak of England and Wales companies going bust highest since the 2009 financial crisis

    Firms in “critical financial distress” jumped 25% in the last three months, insolvency expert Begbies Traynor said.

    Official figures from England and Wales show that the number of companies going bust this year is on track to be the highest since the financial crisis in 2009. Insolvencies rose 10% from a year ago in the three months to the end of September, and there has also been a sharp rise in the number of firms at risk of going bust.