Economy

• Friday, November 3rd 2017 - 07:37 UTC

  Bank of England's first interest rate increase in a decade; Brexit impact hovers over future decisions

  

  The Bank of England has raised interest rates for the first time in a decade to contain an increase in inflation stoked by the Brexit vote, in what is otherwise a moment of high uncertainty for the economy. In a statement Thursday, the bank said it had lifted its benchmark rate, which affects the cost of loans and savings rates in the wider economy, to 0.50% from the record low of 0.25%.

• Friday, November 3rd 2017 - 07:25 UTC

  Falklands calamari prices recover significantly as second season catch is below market expectations

  

  Recent reports in trade journals that abundant catches during 2017 were depressing Falkland Islands loligo prices were challenged this week by local sources concerned with the fishing industry.

• Thursday, November 2nd 2017 - 08:49 UTC

  London could lose 75.000 financial services jobs by 2019, when UK leaves the EU

  

  The Bank of England expects Britain to lose up to 75,000 financial services jobs in the years after its departure from the European Union in 2019, the BBC reported. London dominates global currency trading and is Europe’s main finance hub.

• Thursday, November 2nd 2017 - 08:12 UTC

  Trump expected to announce “centrist” Jerome Powell, as next head of the Fed

  

  President Donald Trump has said he will announce on Thursday his choice to lead the seven/member Federal Reserve board beginning in February. Jerome Powell, a Fed board member, is assumed to be the top contender and Trump anticipated that “I think you will be extremely impressed by this person”.

• Wednesday, November 1st 2017 - 09:00 UTC

  Brazil's central bank puts off signals about next year's interest rate policy

  

  Brazil’s central bank has decided to put off any signals about its 2018 interest rate decisions, the bank said on Tuesday, leaving the door open for lower rates next year as the economy recovers with inflation under control.

• Wednesday, November 1st 2017 - 08:53 UTC

  Farmers' lobby chief becomes Argentine Agriculture ministry head; ex minister to Brussels to negotiate EU/Mercosur deal

  

  Argentina will replace Agriculture Minister Ricardo Buryaile with Luis Miguel Etchevehere, currently the president of the Argentine Rural Society, the powerful agriculture and livestock industry group, Cabinet Chief Marcos Pena said on Tuesday. Buryaile will next serve as Argentina's ambassador to the European Union.

• Wednesday, November 1st 2017 - 08:46 UTC

  Argentina unveils plan to slash corporate income taxes to promote investment

  

  Argentina plans to cut corporate income taxes to 25% by 2021 for companies that reinvest profits, it said on Tuesday, part of a wide-reaching tax reform bill intended to accelerate investment in Latin America's no.3 economy. The bill, which would slash taxes for companies willing to reinvest in Argentina from 35%, will be sent to Congress in the coming days, Treasury Minister Nicolas Dujovne said.

• Wednesday, November 1st 2017 - 08:02 UTC

  Europe prepares to have jets fly with an eco-fuel mix from vegetable oil and animal fat plus kerosene

  

  Jets in Europe will soon run on eco-fuel produced from vegetable oil and animal fat. The new fuel will be mixed with traditional kerosene. According to latest reports, planes running on the mixture of renewable and traditional fuel will start flying next year from Geneva in Switzerland.

• Wednesday, November 1st 2017 - 07:52 UTC

  Labour pressing UK government to release 58 Brexit impact studies

  

  The British Labour party is seeking to up the pressure on ministers over their refusal to release a series of Brexit impact studies. The government has confirmed that 58 reports looking at different sectors of the economy have been prepared, but is resisting calls to publish them; saying to do so would undermine the UK's negotiating position.

• Tuesday, October 31st 2017 - 08:30 UTC

  Brazil: the return of deepwater oil

  

  By Nick Cunningham of Oilprice.com - On a historic auction for deepwater oil assets in Brazil, the oil majors showed up on October 27 and bought several offshore blocks, indicating a high level of interest in the country after a major policy overhaul allowed private investment.