Economy

Thursday, May 26th 2016 - 05:03 UTC
Macri's government in “100% agreement” with the Church's dialogue message

Argentina's cabinet chief Marcos Pena said president Mauricio Macri administration was “100% in agreement” with the Catholic church 25 May Day message “to leave aside statistics, think in the Argentine people and not fight among ourselves”.
Wednesday, May 25th 2016 - 08:52 UTC
Paris police raids Google's offices as part of a tax fraud investigation

Paris police raided the headquarters of Google in France on Tuesday as part of an investigation into tax fraud that has been running since 2011. About 100 tax fraud police, including 25 computer experts, swooped on Google's offices at 5.00am to investigate charges of aggravated tax fraud and money-laundering.
Wednesday, May 25th 2016 - 08:46 UTC
Argentina's April inflation 6.7%, according to the Congress Index

Argentina's April inflation climbed to a record 6.7%, and 19.4% in the first four months of the year, according to the latest Congress Index, announced on Tuesday. Public utility rates were blamed for two thirds of the April increase, the highest for a month since 2002.
Wednesday, May 25th 2016 - 08:35 UTC
Argentine government agrees a 400% cap on natural gas hikes for Patagonia provinces

The Argentine government has announced a cap on hikes to natural gas prices for the country’s southernmost provinces, after pushback from governors, the Judiciary and even local demonstrators prompted Energy Minister Juan Jose Aranguren to reconsider the scope of his most recent reforms.
Wednesday, May 25th 2016 - 08:16 UTC
Brazil with a current account surplus in April, first since 2009

Brazil recorded a public current account surplus of US$412 million in April, the first positive result since 2009. Brazil's central bank's chief economist, Tulio Maciel, on Tuesday said the result was way better than anticipated.
Wednesday, May 25th 2016 - 07:02 UTC
UK tremor: North Yorkshire approve fracking operations

$The vote triggered a fierce response from environmentalists who see fracking as a threat to local countryside and a deviation from UK climate-change promises.$

The first fracking operation in the UK since 2011 earthquake scares has been approved by North Yorkshire councilors, stirring a fresh debate on the benefits and risks of the controversial gas extraction method. Councilors granted permission to UK firm Third Energy to use hydraulic fracturing, or fracking, at an existing drilling site near the village of Kirby Misperton.
Wednesday, May 25th 2016 - 06:50 UTC
Macri's administration admits the Catholic church criticism of Argentina's 'labor market fragility'

Leaders from Argentina's ruling “Let‘s Change” (Cambiemos) administration acknowledged on Tuesday that the country is “going through the worst time” yet since president Mauricio Macri took office but also underlined all the measures that have been taken over the last few months to overcome the situation.
Wednesday, May 25th 2016 - 06:38 UTC
Container shipping “fragile”; third largest firm reports loss in first quarter, plans US$ 1bn in cost cuts

France's CMA CGM, the world's third-largest container shipping firm, reported a first-quarter net loss and targeted US$1 billion in cost cuts to keep operating margins positive during the current market downturn. Weak freight rates in the past year have left many lines operating at a loss.
Wednesday, May 25th 2016 - 06:18 UTC
Venezuela next Mercosur chair, but Uruguay will continue leading negotiations with EU

Venezuela, in the midst of a most serious domestic political and economic situation, and with less foreign allies is scheduled to take the chair of Mercosur as of next June for the following six months. However it has been agreed that Uruguay will continue leading Mercosur negotiations with the European Union for a much delayed wide ranging cooperation and trade agreement.
Wednesday, May 25th 2016 - 05:58 UTC
Temer announces tough austerity measures but needs to show Congress supports him

Brazil's interim president announced austerity measures on Tuesday aimed at pulling Latin America's largest economy from its worst crisis in decades, warning that a failure to act would sentence future generations to “extraordinary hardship.” Speaking with government leaders in a national televised meeting, interim president Michel Temer, 75, also banged his hand on the table while insisting he was up to the job.