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MercoPress, en Español

Montevideo, July 6th 2025 - 10:14 UTC

Economy

  • Monday, August 3rd 2015 - 05:07 UTC

    Switzerland central bank announces 51bn dollars loss in six months

    The central bank warned it might not be able to share any profits with the government this year if results did not improve in the second half of 2015.

    Switzerland's central bank announced Friday it had suffered a loss of 50.1 billion francs ($51 billion, 47 billion Euros) in the first half of the year, down on the 16.1 billion francs in profit logged for the same period a year earlier.

  • Saturday, August 1st 2015 - 09:55 UTC

    Brazil reports its worst half year primary deficit since 1997

    Last week the government lowered its fiscal targets and this prompted ratings agency S&P to threaten to downgrade Brazil’s investment-grade rating.

    The Brazilian government registered a primary deficit of $470 million (1.6 billion Real) in the first half of 2015, according to figures from the National Treasury release on Thursday, O Globo newspaper reported. The deficit is the worst result since 1997. In the same period last year, the government recorded a surplus of $5 billion (17 billion real).

  • Friday, July 31st 2015 - 06:41 UTC

    Maduro takes over brewers complex as Venezuela runs out of beer because of lack of barley

    Maduro has accused Polar of sabotaging the economy by hoarding goods and intentionally creating shortages, a charge the company denies.

    Venezuela's largest food distributor on Thursday denounced the government occupation of a Caracas warehouse amid accusations that the company is hoarding goods. Soldiers took over the warehouse complex used by Empresas Polar late Wednesday just as Venezuela's federation of brewers announced that Polar's beer manufacturing subsidiary is shutting two of its six plants because of a lack of imported barley.

  • Friday, July 31st 2015 - 06:25 UTC

    Former Fed chief says discussion is not monetary policy but government spending

    “To me the discussion today shouldn’t be on monetary policy it should be on how do we constrain this extraordinary rise in entitlements” said Greenspan

    Former Federal Reserve Chairman Alan Greenspan warns that government spending “extremely dangerous” to the future of the US economy. Greenspan decried a rise in entitlement costs, which he contended have pressured the U.S. economy.

  • Friday, July 31st 2015 - 06:08 UTC

    UK overtakes Brazil as Santander's most profitable market

    Pre-tax profits of £928m eclipsed the €1bn (£700m) posted by the Spanish bank's Brazilian operation, which saw its revenues jump by 9%.

    The UK has become Santander's most profitable market, generating just over a fifth of the bank's profits in the first half of 2015. Pre-tax profits in the UK rose £74m to £928m, while revenues were up 5%. The results eclipsed the €1bn (£700m) posted by the Spanish bank's Brazilian operation, which saw its revenues jump by 9%.

  • Friday, July 31st 2015 - 05:59 UTC

    US economy expands at an annual 2.3% in 2Q; strong consumer spending

    Consumer spending grew at a rate of 2.9% in the second quarter, compared with 1.8% in the first three months of the year.

    The US economy grew at an annualized pace of 2.3% in the three months to June, official figures have shown. The figure - the first estimate of growth in the second quarter - followed an upwardly revised growth rate of 0.6% in the first three months of the year. The Commerce Department said growth was boosted by increased consumer spending and cheaper fuel prices.

  • Friday, July 31st 2015 - 05:33 UTC

    Dollar in Chilean Pesos climbs to its highest level since December 2008

    The strong US economy and the fall in the price of copper, because of lesser Chinese demand have weakened the Chilean peso

    The US dollar ended Thursday trading in the Chilean money exchange market at its highest since December 2008, that is 674 Pesos for the greenback. Currently and seven years ago the main reason has been the US monetary policy: the sub-prime crash in the US and fears of the debacle expanding to the rest of the world, and now growing chances of the Federal Reserve deciding on a rise of the prime rate.

  • Thursday, July 30th 2015 - 22:31 UTC

    UK Overseas Territories agree on a 'unified front' for December's JMC in London

    The participants of the meeting in Hamilton pose for the 'family picture' at the end of discussions

    Leaders of several British Overseas Territories meeting in Bermuda released a joint statement following a Pre-Joint Ministerial Council two-day meeting held last week in Hamilton. The goal of the international gathering was to discuss matters of common interest in order to present a unified front next December at the JMC in London.

  • Thursday, July 30th 2015 - 22:28 UTC

    For the sixth straight time, Brazil raises interest rate 50 points to 14.25%

    Copom said keeping rates at 14.25% level for a sufficiently long period of time was needed for inflation to converge to the target in late 2016.

    Brazil's central bank raised interest rates to 14.25% from 13.75% as expected on Wednesday, delivering another hefty increase to stifle inflationary risks from a sharp depreciation of the local currency. This is the highest rate since October 2006.

  • Thursday, July 30th 2015 - 15:55 UTC

    Warren Buffett And Elon Musk To Spark A Lithium Boom

    Smart phones, tablets, laptops, and other consumer electronics demand more lithium. But the largest driver for lithium use will be in electric vehicles

    The age of electrification across the transportation sector, the solar panel revolution, and Tesla's battery giga-factory are igniting a battle for the cheapest battery. That will transform lithium into a boom-time mineral and the hottest commodity on the energy investor's radar. It has been easy to take lithium for granted.