Economy

• Friday, June 15th 2018 - 10:28 UTC

  ECB will stop its bond-buying scheme, €30bn a month, next December

  

  The European Central Bank (ECB) has confirmed it will end a huge program to stimulate the Euro-zone economy in December. The ECB will stop its bond-buying scheme, worth €30bn a month, despite a recent slowdown in the bloc's recovery.

• Friday, June 15th 2018 - 10:25 UTC

  IMF report warns Trump administration on trade, tariffs and budget deficits

  

  The International Monetary Fund said on Thursday that tax cuts will help fuel the U.S. economy this year and next. But it warned that growth after that will slide to levels just half of what the Trump administration is forecasting.

• Friday, June 15th 2018 - 06:56 UTC

  Forex run in Argentina: Macri appoints new Central bank president

  

  Argentine president Mauricio Macri appointed Finance Minister Luis Caputo as president of the central bank on Thursday, after the outgoing head of the bank resigned and acknowledged having lost credibility.

• Friday, June 15th 2018 - 06:25 UTC

  'Brexit leaves UK isolated from allies and begging for trade deals with ex colonies'

  

  Britain will be left a “mangy old lion” as a result of Brexit, isolated from its allies and reduced to begging for trade deals from one-time colonies, a former Foreign Office minister is warning. Lord Malloch-Brown, who chairs the Best for Britain campaign for a second referendum, said that the UK’s loss of influence was exposed at last week’s G7 summit, where Theresa May was left a “spectator” to a clash between the US, Canada and the EU.

• Thursday, June 14th 2018 - 22:14 UTC

  IMF's Lagarde welcomes Argentina government’s economic policy plans

  

  Argentine authorities have asked to use US$7.5 billion of the US$50 billion financing deal signed with the International Monetary Fund to fund their budget, IMF Managing Director Christine Lagarde said in a statement. Argentina’s Finance Ministry said in a separate statement that the funds would be sold on the market through pre-announced daily auctions conducted by the central bank.

• Thursday, June 14th 2018 - 21:49 UTC

  Morgan Stanley and Royal Bank of Canada fined in Brazil for rigging foreign exchange rates

  

  Brazil’s competition authority Cade has reached a settlement with Morgan Stanley and Royal Bank of Canada, fining them a combined 42.9 million reals (US$11.6 million) for forming a cartel manipulate FX markets.

• Thursday, June 14th 2018 - 08:54 UTC

  UK inflation steady at 2.4% in May, but fuel prices are climbing fast

  

  Inflation in the UK remained at 2.4% in May, according to the Office for National Statistics (ONS), after its fall was halted by a sharp rise in fuel costs. The ONS said that fuel prices increased by the biggest monthly amount since January 2011, rising by 3.8%.

• Thursday, June 14th 2018 - 08:13 UTC

  Fed raises basic rate to 2%; anticipates further increases amid strong economic growth

  

  The US Federal Reserve raised the benchmark lending rate on Wednesday, the second increase of the year, and signaled it will be more aggressive about rate increases this year and next amid “strong” economic growth. The unanimous vote brings the federal funds rate to a range of 1.75 to 2%, but the quarterly economic forecasts show central bankers now expect the rate to end the year at 2.4% rather than the 2.1% projected in March.

• Thursday, June 14th 2018 - 07:51 UTC

  New conflict brewing with Brazilian truckers

  

  Talks on new prices for truck freight in Brazil, following a nationwide truckers strike in May, have yet to be concluded and the lack of a deal is hurting goods transportation, Brazil’s Agriculture Minister Blairo Maggi said.

• Thursday, June 14th 2018 - 06:27 UTC

  Russia's World Cup opening ceremony will be seen by an audience of over 3 billion

  

  The FIFA World Cup, the biggest sporting carnival on the planet, is all set to kick-start on Thursday. As Russia gets dressed to host the much-awaited event, fans from all over the world are set to see their favorite superstars in action. Brazilian great Ronaldo and British pop star Robbie Williams will be present at the opening ceremony.