Economy

Friday, September 14th 2018 - 08:22 UTC
Governor Carney warns of economic chaos and property crash in a no-deal Brexit

Bank of England governor Mark Carney has delivered a “chilling” warning to Theresa May’s cabinet that a no-deal Brexit could lead to economic chaos, including a property crash that could see house prices fall by a third.
Thursday, September 13th 2018 - 10:39 UTC
IMF team in Buenos Aires for talks on the standby loan package

Officials from the International Monetary Fund are in Argentina as part of talks to strengthen and accelerate a crisis loan package, the global lender said Wednesday. The IMF and Buenos Aires agreed in June on a three-year, US$50 billion rescue lending programme but Argentina has since asked for a more rapid disbursement.
Thursday, September 13th 2018 - 10:34 UTC
Argentine labor unions and social groups protest austerity measures in Buenos Aires City

Labor unions and social groups blocked streets in downtown Buenos Aires on Wednesday, with more marches planned over the days ahead over austerity measures proposed by the government and backed by the International Monetary Fund. Protesters are angry about the belt-tightening policies, which are cutting services to low-income Argentines already walloped by inflation of 31 percent and climbing.
Thursday, September 13th 2018 - 10:10 UTC
Ciro Gomes pledges to de-concentrate Brazil's banks, and to help 63 million listed as delinquent debtors

Center-left populist presidential candidate Ciro Gomes vowed on Wednesday to reduce concentration in Brazil's banking sector if elected in October, warning that he would open the sector up to more foreign competition if necessary.
Thursday, September 13th 2018 - 08:36 UTC
Ciro Gomes pledges to de-concentrate Brazil's banks, and to help 63 million listed as delinquent debtors

Center-left populist presidential candidate Ciro Gomes vowed on Wednesday to reduce concentration in Brazil's banking sector if elected in October, warning that he would open the sector up to more foreign competition if necessary.
Thursday, September 13th 2018 - 06:20 UTC
“Extremely dangerous major” hurricane Florence advancing on the Carolinas

Hurricane Florence, one of the strongest storms to threaten the East Coast of the United States in decades, continued to swirl in the Atlantic on Wednesday night on a path that is taking it dangerously closer to the Carolinas. Meanwhile, another storm system in the Atlantic gained strength on Wednesday and was named subtropical Storm Joyce.
Wednesday, September 12th 2018 - 08:55 UTC
Argentina's central bank keeps key interest rate at 60%

Argentina's central bank kept its key interest rate on Wednesday at 60%, one of the highest in the world, following a surprise hike two weeks ago after the peso plunged. Central bank officials said in a statement that inflation accelerated in August and continues to do so September, citing high-frequency data.
Wednesday, September 12th 2018 - 08:45 UTC
Brexit fears: UK oil and gas industry concerned about contracting skilled workers

Oil and gas platforms could have to be shut down if a deal on Brexit leads to difficulties accessing skilled workers, according to an industry report. The warning comes in Oil and Gas UK's latest economic report which said delays in accessing labor markets from EU countries have the potential, in some instances, of leading to production being shut in.
Wednesday, September 12th 2018 - 08:38 UTC
Brexit controversy: dissident Tory MPs meet to discuss how and when to dump Theresa May

Conservative MPs opposed to Theresa May's Brexit plan have met to discuss how and when they could force her to stand down as prime minister. Around 50 members of the European Research Group (ERG) openly discussed “how best you game the leadership election rules,” a source said quoted by BBC.
Wednesday, September 12th 2018 - 08:30 UTC
Brazilian equities and currency slump on Tuesday on latest opinion polls

Brazilian equities and currencies slumped on Tuesday after an opinion poll on the presidential election showed leftist candidates gaining ground while market-friendly centrists did not.