Economy

• Friday, December 16th 2016 - 10:44 UTC

  Bank of England leaves rates unchanged: global outlook has become more fragile

  

  The Bank of England voted unanimously on Thursday to keep the UK's main interest rate at a record low of 0.25%, and anticipated that the next rate move could be in either direction. The last change was a rate cut in August, in the wake of the UK's vote to leave the EU.

• Friday, December 16th 2016 - 10:00 UTC

  Brexit: UK wants to first discuss status of Britons in Europe and EU citizens in UK

  

  UK Prime Minister Theresa May wants an early deal on what Brexit means for the status of Britons in Europe and EU citizens in the UK, she has told EU leaders. The prime minister's comments came as she updated fellow leaders on the UK's plans for leaving the European Union.

• Friday, December 16th 2016 - 09:02 UTC

  Lula faces new corruption charges, but he leads polls for 2018 presidential election

  

  New corruption charges linked to Brazil's massive embezzlement scheme at Petrobras oil company were filed on Thursday against former president Lula da Silva, prosecutors said. A judge will now have to decide whether Lula, whose spokesman called the charges “invented,” should face trial.

• Friday, December 16th 2016 - 08:50 UTC

  Simulus measures in Brazil to appease recession and Temer's tumbling credibility

  

  Brazilian President Michel Temer on Thursday unveiled a raft of stimulus measures to reduce the debt burden of businesses and consumers struggling with the country's worst recession on record amid growing popular discontent. Although limited in scope, the measures aim to appease Brazilians angry at the deepening recession in Latin America's biggest economy and allegations of corruption against Temer and his closest allies.

• Friday, December 16th 2016 - 08:07 UTC

  Despite Falklands issue, Argentina interested in bilateral trade agreement with UK

  

  Argentina would be interested in negotiating a bilateral free-trade agreement with the U.K. as it prepares to leave the European Union, potentially turning around harsh relations between the two countries.

• Thursday, December 15th 2016 - 13:03 UTC

  Temer talks to Trump and they agree to promote trade and investments

  

  Brazil's President Michel Temer called U.S. President-elect Donald Trump agreeing to work together to improve business relations between the two largest economies in the Americas, a statement from Temer's office said. Brazil is keen to explore business opportunities that could open up if Trump follows through on campaign promises to rewrite a trade deal with Mexico.

• Thursday, December 15th 2016 - 00:18 UTC

  Fed raises rate 25 points to 0.75%, anticipates further increases while US dollar jumps in Asian markets

  

  The U.S. Federal Reserve increased its benchmark interest rate by a quarter of a percentage point to a range of between 0.5 and 0.75%. The higher rate will affect the what savers and borrowers get on their variable rate products from banks, and the fine print of the bank's policy decision shows that a majority of Fed members expect more rate hikes to come, as many as three in the next 12 months, after previously signaling it was expecting only two.

• Wednesday, December 14th 2016 - 15:24 UTC

  Double taxation: Ecuador, Italy sign agreement to foster private investements

  

  Ecuador signed an agreement with Italy to define the tax obligations of the citizens of the two countries, in order to avoid double taxation on income taxes and equity and prevent tax evasion, the Ecuadorian Foreign Ministry said.

• Wednesday, December 14th 2016 - 09:21 UTC

  Yesterday Colombia, now Venezuela closes border with Brazil

  

  The government of President Nicolas Maduro government closed the border with Brazil for 72 hours for the same reason it had taken the same measure with Colombia: money smuggling, Brazilian local authorities and residents of southern Venezuela who routinely cross to Brazil where they can make transactions in bolivars confirmed.

• Wednesday, December 14th 2016 - 05:10 UTC

  Trump challenges Congress and nominates close friend of Putin, Rex Tillerson Secretary of State

  

  Donald Trump officially announced his plan Tuesday to nominate ExxonMobil CEO Rex Tillerson as secretary of state, a pick that could pose complications in the confirmation process due to Tillerson's ties to Russia. Tillerson, 64, has no government or diplomatic experience but has done extensive work overseas on behalf of his petroleum company.