Economy

• Friday, September 8th 2017 - 08:49 UTC

  Hyperinflation hits Venezuela in August; US dollar exchange at 20.000 Bolivar

  

  Venezuela's monthly inflation rate jumped to 33.8% in August, with food price rises reaching hyperinflationary levels above 50%, the opposition-controlled National Assembly said on Thursday.

• Friday, September 8th 2017 - 08:42 UTC

  Chile and Argentina working on an energy, gas and power, swap deal

  

  Chile expects to close an energy swap deal with Argentina in the days ahead, Chilean Energy Minister Andres Rebolledo said in an interview Thursday. The neighboring nations are also negotiating the locations for five additional transmission line interconnection points, with an agreement expected as early as January, the minister revealed.

• Thursday, September 7th 2017 - 19:51 UTC

  Round for Boeing in the ongoing WTO dispute with Airbus

  

  US aircraft manufacturer Boeing has won a victory in a long-running dispute with European rival Airbus. The World Trade Organization has reversed on appeal a ruling that Boeing received some state aid to help build its newest aircraft, the 777X.

• Thursday, September 7th 2017 - 18:39 UTC

  Stanley Fischer is stepping down from the Federal Reserve next month

  

  The United States Federal Reserve Vice Chairman Stanley Fischer will resign next month for personal reasons, leaving a fourth vacancy on the seven-member Fed governing board. Fischer is a widely-respected economist who taught at MIT, was head of the Bank of Israel for eight years and vice chairman at Citigroup.

• Thursday, September 7th 2017 - 08:34 UTC

  Clyde shipbuilding unions furious with MoD over building of new frigates

  

  Shipbuilding unions have accused the UK Minister of Defense of reneging on a promise to build five new navy frigates on the Clyde. It came as Defense Secretary Sir Michael Fallon announced that five Type 31e frigates could be built and assembled across several UK shipyards.

• Thursday, September 7th 2017 - 08:23 UTC

  Battle of Brexit Repeal Bill begins; Labour objects since it “grabs power from Parliament”

  

  Britain's Labour will vote against the Brexit Repeal Bill because it will allow ministers to “grab power from Parliament” to slash rights at work and cut protection for consumers and the environment. The party’s statement came as Brexit Secretary David Davis was preparing to deliver a House of Commons statement on a summer of negotiations which the European Union claims has failed to deliver “decisive” progress.

• Thursday, September 7th 2017 - 07:37 UTC

  Expo-Prado agro-industrial show opens in Montevideo

  

  Uruguay's main agricultural, industrial and commercial show, Expo/Prado 2017 opened in Montevideo on Wednesday. The annual event, which this year is international, (it rotates with Argentina's Palermo show) is an opportunity for city people to admire the best cattle, sheep, horses and hogs of the region, and for the farmers a chance to see how much technology has advanced in the last twelve months.

• Wednesday, September 6th 2017 - 07:57 UTC

  Archbishop of Canterbury says UK economic model is failing with a growing gap between rich and poor

  

  Archbishop of Canterbury, Justin Welby, says Britain's economic model is broken, as the gap between the richest and poorest parts of the UK widens. Britain stands at a watershed and must make “fundamental choices” about the direction of the economy, he said.

• Monday, September 4th 2017 - 16:36 UTC

  EU Brexit negotiator: “educating” UK about the price it would pay for leaving the “EU club”

  

  The EU's Brexit negotiator has said he sees the process as an opportunity to “teach the British people and others what leaving the EU means”. Michel Barnier said he would never resort to blackmail but saw it as his job to “educate” the UK about the price it would pay for leaving the EU “club”.

• Monday, September 4th 2017 - 10:40 UTC

  US employment growth decreasing, but still strong; waiting for Harvey's aftermath

  

  The US economy added 156,000 jobs in August, less than the previous month and below expectations. Analysts had expected US non-farm payrolls to rise by between 175,000 and 185,000 last month. Data released by the US Department of Labor also showed that employment growth in June and July was lower than originally estimated.