Economy

Sunday, December 6th 2015 - 12:36 UTC
U.S. manufacturing contracts for the first time in three years, a survey shows

United States manufacturing activity contracted for the first time in three years in November under pressure from falling energy prices, the stronger dollar and slowing global growth, a survey shows.
Sunday, December 6th 2015 - 12:23 UTC
Bank of China faces daily fine in the US unless it complies with court order

The Bank of China will face a daily fine in the US unless it complies with a court request to give details of customers accused of selling fake goods. The bank was held in contempt of court in Manhattan last week for refusing to turn over the records.
Saturday, December 5th 2015 - 06:50 UTC
Oil futures fall sharply after OPEC agrees to keep 'current actual production'

Oil futures fell sharply Friday, with the U.S. benchmark settling below $40 a barrel after the Organization of the Petroleum Exporting Countries agreed to keep pumping crude at current production levels despite a global glut.
Saturday, December 5th 2015 - 06:42 UTC
Positive US jobs data paves the way for the Fed to raise interest rates

US jobs growth remained solid in November as the economy added 211,000 jobs, slightly above expectations. The data, from the Bureau of Labor Statistics, also showed the jobless rate held at its seven-and-a-half year low of 5%. Construction, food services and retail sectors all saw healthy job increases.
Friday, December 4th 2015 - 07:25 UTC
Dragui's fresh Euro stimulus measures don't convince markets

The European Central Bank announced on Thursday fresh stimulus measures in a bid to boost inflation and the Euro zone’s recovery but the market response reflected disappointment. Mario Dragui said the bank was extending the quantitative easing program by six months, March 2017, or beyond if necessary, but at the current rate of 60 billion Euros a month.
Friday, December 4th 2015 - 05:55 UTC
Mercosur waiting for EU proposal; summit to be held at Conmebol convention centre

Mercosur is waiting for the European Union to decide when to begin the exchange of tariff-reduction proposals with the purpose of reaching an encompassing trade and cooperation agreement, despite France's objections to the move, said Rigoberto Gauto, Paraguay's deputy foreign minister. Paraguay currently holds the Mercosur chair and leads negotiations with Brussels.
Friday, December 4th 2015 - 05:33 UTC
Uruguay could be heading to recession because of the government's political stalemate

Uruguay faces seven conditions which are creating a complex scenario and if they are not modified by government, it's most possible the economy is heading for a recession, according to economist Juan Carlos Protasi, a former central bank president.
Friday, December 4th 2015 - 05:23 UTC
Uruguayan government unable to keep inflation below two digits

Inflation in Uruguay during the first eleven months of 2015 was double digit, 10.04%, a figure which if confirmed by the end of the year, could trigger a rash of labor review demands from unions. According to the country's stats office INE, in November retail prices climbed 0.43%, and in the last twelve months reached 9.46%, ahead of October's 9.15%.
Friday, December 4th 2015 - 05:07 UTC
Agriculture can boost production by 40%/50% with measures announced by Macri's team

Gustavo Grobocopatel, head of the agro-business Grobo group anticipated that with the measures announced by the team of president elect Mauricio Macri and to be implemented from next 10 December, Argentina's grains and oilseed crop “it going to increase by 40% to 50%”, meaning dollars for industry, jobs and services.
Wednesday, December 2nd 2015 - 08:52 UTC
RBS and Standard Chartered, weakest in Bank of England stress test

Royal Bank of Scotland and Standard Chartered were the weakest of Britain's seven largest lenders in a Bank of England stress test. For the second year, the central bank has subjected the UK's biggest lenders to tests to measure whether they would survive a financial shock.