Economy

Wednesday, October 18th 2017 - 11:56 UTC
UK inflation climbs to 3% in September, mainly because of the fall in sterling

The UK's key inflation rate hit its highest for more than five years in September, driven up by increases in transport and food prices. The Consumer Prices Index (CPI) climbed to 3%, a level it last reached in April 2012, and up from 2.9% in August. The pick-up in inflation raises the likelihood of an increase in interest rates - currently 0.25% - next month.
Wednesday, October 18th 2017 - 08:42 UTC
Galician fishing industry recovering and investment in new vessels picking up

The Galician fishing industry is undergoing a boom as Spain recovers from the economic crisis that had caused a halt in the construction of new vessels and investments on new processing plants in recent years, Javier Fraga Diaz, director with Spanish bank Abanca's maritime unit (Banca Mar), revealed.
Wednesday, October 18th 2017 - 08:28 UTC
China's credit rating downgraded by S&P, “but might still be too good”

China's credit rating has been downgraded by Standard & Poor's (S&P) because of worries over the rapid buildup of debt in the country. S&P cut China's rating by one notch from AA- to A+, saying its debts had raised “economic and financial risks”.
Wednesday, October 18th 2017 - 08:24 UTC
The Fed started to reduce its US$4 trillion boost portfolio from the financial crisis

The Federal Reserve has started to run down some of the investments it made to boost the US economy after the financial crisis. The Fed holds a US$4.2trn portfolio of US Treasury bonds and mortgage-backed securities, and it will initially cut up to US$10bn each month from the amount it reinvests.
Tuesday, October 17th 2017 - 12:16 UTC
Federal audit freezes Rousseff and Gabrielli assets over losses in refinery purchase

Brazil's federal audit court ordered a freeze of former President Dilma Rousseff's assets as well as those of José Sérgio Gabrielli, ex-head of state-run oil company Petrobras, over a US$580 million loss in the 2006 purchase of a Texas refinery.
Tuesday, October 17th 2017 - 11:45 UTC
Airbus takes a majority stake in Bombardier frustrating Boeing's strategy

Canada's Bombardier Inc. announced on Monday it has sold a majority stake in its CSeries passenger jet business to European aerospace giant Airbus for no cost. The move comes after lackluster sales and after the U.S. Commerce Department imposed harsh duties on Bombardier, charging the Montreal-based company is selling the CSeries planes in the U.S. below cost and receiving government subsidies.
Sunday, October 15th 2017 - 03:47 UTC
St Helena opens to the world with first commercial air link to South Africa

Saturday 14 October marked an exciting new chapter in St Helena’s history when the first ever commercial flight from South Africa touched down at St Helena Airport at 1.59pm.
Saturday, October 14th 2017 - 20:42 UTC
IMF: Latin America must crack down on corruption and improve governance

Latin American and Caribbean governments need to crack down on corruption in order to make their economies more durable and the benefits of growth more widespread, the International Monetary Fund said on Friday.
Saturday, October 14th 2017 - 08:16 UTC
Japan's steel scandal of falsifying quality data has global manufacturing repercussions

Japan's Kobe Steel has increased the number of firms it says have been affected by its data fabrication scandal from 200 to 500, and has also found “inappropriate actions” relating to nine more products, including falsifying data. Earlier this week, Kobe admitted falsifying quality data on some of its products for up to a decade.
Friday, October 13th 2017 - 13:54 UTC
Argentina's September CPI 1.9% and 17.6% in nine months

Consumer prices rose 1.9% in Argentina in September, government statistics agency Indec said on Thursday, pushing the nine-month inflation reading to 17.6%, above the upper band of the central bank’s target for the year.