Economy

Wednesday, February 7th 2018 - 15:23 UTC
Powell becomes chairman of the Fed in a turbulent trading day

Jerome Powell was sworn as the 16th chairman of the Federal Reserve on what turned out to be a turbulent day for Wall Street, with the Dow Jones industrial average plunging by more than 1,100 points. Powell, 65, was given the oath of office by Randal Quarles, the Fed's vice chairman for supervision, in a ceremony that took place before stock trading opened on Wall Street.
Wednesday, February 7th 2018 - 14:41 UTC
Oil Prices Ravaged By Financial Turmoil

By Nick Cunningham of Oilprice.com

Oil prices fell back suddenly over the last few trading sessions, dragged down by some forces beyond the oil market.
Wednesday, February 7th 2018 - 09:56 UTC
Brazil's second largest private bank names new CEO in a major shakeup

Banco Bradesco SA, Brazil's second-largest private-sector lender, appointed a new chief executive who told journalists that demand for credit has already improved in the first month of 2018. Octavio Lazari, 54, head of Bradesco's insurance unit, was appointed as the bank's next CEO amid a broader management shakeup with younger executives joining the board and upper management ranks to tackle increasing competition from all-digital banks.
Wednesday, February 7th 2018 - 08:55 UTC
EU draft proposes strict conditions for UK in the post-Brexit transition period

The European Union wants to be able to restrict the UK's access to the single market if there is a dispute after Brexit, a leaked document suggests. The power to suspend “certain benefits” would apply during the post-Brexit transition phase before the final arrangements come into force.
Wednesday, February 7th 2018 - 08:44 UTC
Algorithmic trading accelerated Black Monday markets plunge, speculate analysts

Robot trading has accelerated this week's market dive and may have sparked the sell-off, experts say. Financial firms use computers programmed with complex sets of instructions known as algorithms, which identify trading opportunities and then strike faster than any human could.
Wednesday, February 7th 2018 - 07:50 UTC
Venezuela desperate after US dollars; greenback costs 228.000 Bolivars in the black market

Venezuela’s central bank announced a devaluation of more than 99% of its official exchange rate with the launch of a new foreign exchange platform, a move critics quickly said would not create a functioning currency market.
Tuesday, February 6th 2018 - 08:26 UTC
Tillerson praises Macri's leadership in the region in favor of democracy

President Mauricio Macri received US Secretary of State Rex Tillerson on Monday at the Olivos official residence. During the forty minutes meeting the main issues of the Argentina/US bilateral agenda were addressed, according to a release from the Argentine Executive office.
Tuesday, February 6th 2018 - 08:12 UTC
Trucks strike threatens Argentine cereal exports and soy crushing industry

A protest by grain transporters in Argentina could leave exporters and crushers operating without soy, corn and wheat, an industry group said on Monday.
Tuesday, February 6th 2018 - 07:51 UTC
US stocks Monday plunge erasing 2018 gains; economy fundamentals are strong, says White House

United States stocks plunged in highly volatile trading on Monday, with both the S&P 500 and Dow Industrials indices slumping more than 4%, as the Dow notched its biggest intraday decline in history with a nearly 1,600-point drop and Wall Street erased its gains for the year.
Monday, February 5th 2018 - 20:10 UTC
Taxman knocking on Falklands homes: time to present 2017 Income Returns

The Falkland Islands has announced that individual 2017 Income Returns will be issued on 2nd March 2018, and if any individuals do not receive a return by 9 March 2018, and believe they should complete one, please contact the Tax Office on 28470.