Economy

Friday, December 21st 2018 - 12:03 UTC
Santander fined £32.8m in UK for failing to process accounts of dead customers

The Santander group has been fined more than £30m for “serious failings” in processing the accounts of dead customers, the Financial Conduct Authority (FCA) said. The FCA found that Santander failed to transfer funds worth more than £183m to beneficiaries.
Friday, December 21st 2018 - 12:01 UTC
Brazil’s development bank “must return” to the Treasury some US$ 25bn

Brazil’s future economy minister wants state development bank BNDES to return 100 billion Reais, some US$25.7 billion, to the nation’s treasury in 2019, a newspaper reported, as the incoming government seeks to cut the nation’s hefty debt load.
Thursday, December 20th 2018 - 09:21 UTC
Another Brexit referendum “plausible” if deadlock in Parliament persists

Another Brexit referendum will become a “plausible” way forward if there is deadlock in Parliament, Work and Pensions Secretary Amber Rudd has said. She told ITV's Peston show while she did not personally support another vote, the case for one would grow if MPs could not agree another solution.
Thursday, December 20th 2018 - 09:20 UTC
IMF Executive Board approves US$7.6 billion disbursement for Argentina

The Executive Board of the International Monetary Fund (IMF) completed on Wednesday the second review of Argentina’s economic performance under the 36-month Stand-By Arrangement (SBA) that was approved on June 20, 2018.
Thursday, December 20th 2018 - 08:59 UTC
Fed raises interest rate but lowers 2019 forecast to two hikes in 2019

The United States Federal Reserve raised its key interest rate on Wednesday for a fourth time this year but lowered its forecast to two hikes in 2019 amid the recent stock market sell-off and uncertain growth prospects.
Wednesday, December 19th 2018 - 18:11 UTC
US to fund development in Mexico and beyond to curb immigration

A plan from the United States to fund several undertakings in Mexico and Central America to create jobs and discourage migration was announced Tuesday by Mexican Foreign Secretary Marcelo Ebrard.
Wednesday, December 19th 2018 - 09:54 UTC
Xi Jinping recalls the forty years that have made China a super power

Chinese President Xi Jinping has vowed that his country will not develop at the expense of other nations, in a speech marking 40 years since China introduced major economic reforms. However, he also said that the global superpower would not be told what to do by anyone.
Wednesday, December 19th 2018 - 09:20 UTC
Argentina officially in recession: economy sinks 3.5% in third quarter

Argentina is in recession after its economy shrank by 3.5% during the third trimester of 2018, the state statistics bureau said on Tuesday. It was the second such shrinkage in a row after the economy shrank 4.0% in the second quarter, with respect to the same period a year ago.
Wednesday, December 19th 2018 - 09:12 UTC
Latin American markets and currencies cautious ahead of Fed's two-day meeting

Latin American currencies failed to gain against a weak dollar on Tuesday, as cautious investors pared exposure ahead of the end of the U.S. Federal Reserve's two-day meeting on Wednesday, while Latin American stocks ticked up in line with their U.S. peers.
Wednesday, December 19th 2018 - 08:46 UTC
Falklands promotes private investment in house building development

The Falkland Islands Government announced on Tuesday that terms have been agreed, subject to contract and planning, for the sale of a 15.2 acre site to Argos Developments Ltd. with the purpose of encouraging private investment in house building.