Economy

Friday, July 31st 2015 - 06:41 UTC
Maduro takes over brewers complex as Venezuela runs out of beer because of lack of barley

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

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

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

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 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

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%

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

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.
Thursday, July 30th 2015 - 09:39 UTC
Brazil's agriculture minister optimistic about a Mercosur/EU trade accord by end of the year

Brazil' minister of agriculture Katia Abreu said she was very optimistic about Mercosur reaching a trade agreement with the European Union, and if there are problems look to Europe, because Mercosur members have almost agreed and finished their proposal.
Thursday, July 30th 2015 - 09:16 UTC
Kicillof blasts 'speculators' for promoting a run from the Peso to the US dollar

Argentina's economy minister and central bank governor came out strongly to warn the “devaluation club” and speculators in the foreign exchange market who allegedly are pushing the value of the US dollar and sinking the local Peso.