Economy

• Wednesday, May 24th 2017 - 08:36 UTC

  World's second largest economy has its credit rating downgraded by Moody's

  

  China has received a downgrade on its credit score, on worries about the future state of the economy. Moody's Investors Services brought down China's long-term local currency and foreign currency issuer ratings by one notch to Aa3 from A1, a move that could lead to a rise in the cost of borrowing for the Chinese government and state-owned enterprises. The ratings agency also changed its outlook for China to stable from negative.

• Wednesday, May 24th 2017 - 07:22 UTC

  US households debt at new record high and manageable, but students loans remain “stubbornly high”

  

  The United States debt level reached a record high this year, surpassing the peak touched just as the worst of the recession was taking hold in 2008, and marking a milestone for households that now lean less on mortgages and more on auto and student loans

• Wednesday, May 24th 2017 - 07:10 UTC

  Record number of investments from overseas in Scotland during 2016

  

  Scotland won a record number of investments from overseas in 2016, although growth was substantially lower than the previous year. There were 122 foreign direct investment deals done over the course of last year, up from 119 in 2015.

• Tuesday, May 23rd 2017 - 14:55 UTC

  Global food prices down with expectations of robust supplies in key staples

  

  Global food commodity prices fell in April amid expectations of ongoing robust supplies of many key staples. The FAO Food Prices Index averaged 168 points in April, down 1.8% from March although remaining 10% higher than a year earlier.

• Tuesday, May 23rd 2017 - 11:17 UTC

  Latin American exports rebound in first quarter of 2017 pushed by commodity prices

  

  After four consecutive years of contraction, Latin American and Caribbean exports returned to a path of growth. In the first quarter of 2017, the value of goods exports increased 17% year-on-year, having contracted 2.9% in 2016.

• Monday, May 22nd 2017 - 08:51 UTC

  TPP 11 committed to go ahead despite the Trump administration dropping out

  

  Asia-Pacific trade ministers agreed to try to revive a massive free trade pact, even though the United States reaffirmed its decision to pull out, as fears grow of a new global era of protectionism. The 12-nation Trans-Pacific Partnership (TPP) covered 40% of the global economy before US President Donald Trump abruptly abandoned it in January, to meet a campaign pledge to save American jobs which he says have been sucked up overseas.

• Saturday, May 20th 2017 - 09:02 UTC

  Macri returns from Beijing with US$ 17bn for infrastructure and energy projects

  

  Argentine President Mauricio Macri and Chinese counterpart Xi Jinping have signed in Beijing 16 agreements worth at least US$17 billion in areas such as energy and transport infrastructure, confirming the close links between the two countries.

• Friday, May 19th 2017 - 09:13 UTC

  Trump sets off renegotiation of Nafta in a divided Congress

  

  The Donald Trump administration took the first step toward renegotiating the North American Free Trade Agreement, plunging into a battle that pits some Republicans and industry supporters of the pact against Democrats and some of the president's most ardent backers.

• Thursday, May 18th 2017 - 22:37 UTC

  Bovespa plummets 8.8% and Real suffers the largest drop in 14 years

  

  Brazilian markets plummeted on Thursday as allegations that President Michel Temer condoned bribes to silence a key witness deflated investor optimism about the prospects for his ambitious pension and labor reform agenda.

• Thursday, May 18th 2017 - 21:30 UTC

  Argentina applies to join the China led Asia Infrastructure Investment Bank

  

  Foreign Minister Malcorra Susana said on Wednesday that Argentina has applied to join the China-led Asian Infrastructure Investment Bank (AIIB) and is willing to be actively involved in the Belt and Road Initiative.