Economy

• Thursday, December 10th 2015 - 08:22 UTC

  Macri's candidate will head the Central bank from the first day; Vanoli resigns

  

  Argentina Central Bank President Alejandro Vanoli resigned Wednesday under pressure from President-elect Mauricio Macri, who plans to remove currency controls with reserves standing at a nine-year low.

• Thursday, December 10th 2015 - 08:18 UTC

  Pollack confirms Macri´s administration intention of negotiating with hedge funds

  

  The court-appointed mediator in a long-running debt dispute pitting Argentina against holdout hedge funds said Wednesday that President-elect Mauricio Macri's incoming administration intended to negotiate a settlement.

• Wednesday, December 9th 2015 - 08:38 UTC

  Oil prices plummet to seven-year lows on global supply glut

  

  Oil prices slid on Tuesday, approaching seven-year low points on a global supply glut and weak demand growth. Crude futures had already slumped Monday after the OPEC oil producers cartel last week refused to slash record high output, in a market dogged by oversupply.

• Tuesday, December 8th 2015 - 09:08 UTC

  No break for the Brazilian economy, according to the central bank

  

  Analysts expect Brazil's economy to contract by 3.50% this year, with inflation hitting 10.44%, the Central Bank said on Monday. GDP and inflation estimates come from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.

• Monday, December 7th 2015 - 08:44 UTC

  Argentina talks to US Treasury Secretary; lifting dollar clamp depends on level of reserves

  

  Argentina's incoming Finance minister Alfonso Prat-Gay spoke with the United States Treasury Secretary Jack Lew to discuss economic plans to achieve sustained economic growth. The minister also announced in a long interview with Buenos Aires main dailies that lifting the dollar 'clamp' as promised by president-elect Mauricio Macri, will much depend on the level of international reserves Argentina can count with.

• 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.