Economy

• Friday, May 22nd 2015 - 08:20 UTC

  Lloyd Register Group appointed a new CEO and will take the post next October

  

  Alastair Marsh, current CFO at the Lloyd’s Register Group Ltd. (LR), has been appointed as the successor to CEO Richard Sadler who has decided to step down at the end of 2015. Sadler will pass the CEO role to Marsh on October 1, 2015 and commence a formal handover period until the end of December 2015.

• Friday, May 22nd 2015 - 08:16 UTC

  Brazil heading for full recession: economic activity down, unemployment up

  

  Economic activity in Brazil tumbled in the first quarter and unemployment climbed to a near four-year high, adding to signals that a looming recession could worsen as President Dilma Rousseff reins in public spending.

• Friday, May 22nd 2015 - 05:49 UTC

  Brazil and Uruguay on an “urgent and necessary” redesign of Mercosur

  

  Uruguayan president Tabare Vazquez said it was “urgent and necessary” to redesign Mercosur so as to give its members greater 'trade flexibility'. Vazquez made the statements following Thursday meeting with his peer Dilma Rousseff in Brasilia and underlined “it would be naive to admit that Mercosur as it stands currently, is satisfactory”.

• Friday, May 22nd 2015 - 05:42 UTC

  Lagarde preaches fiscal discipline in one of Brazil's most dangerous slums

  

  The head of the International Monetary Fund (IMF) encouraged Brazil on Thursday to pursue fiscal discipline, saying it was needed to protect social programs benefitting the poorest members of society. IMF chief Christine Lagarde made the link during a visit to Complexo do Alemao, one of Rio's largest and most dangerous slums and an example of the challenges the country faces as it struggles with low growth and high inflation

• Thursday, May 21st 2015 - 07:27 UTC

  Uruguay and Brazil summit to consider a more flexible Mercosur

  

  Uruguayan president Tabare Vazquez will be meeting his peer, Dilma Rousseff in Brasilia this Thursday to address a dense bilateral agenda, and more specifically the workings and future of Mercosur, in search for a more flexible group, open to agreements with third parties.

• Thursday, May 21st 2015 - 07:08 UTC

  Five world leading banks fined 5.7bn dollars for manipulating foreign exchange markets

  

  Five of the world's largest banks are to pay fines totaling $5.7bn for charges including manipulating the foreign exchange market. Four of the banks - JPMorgan, Barclays, Citigroup and RBS - have agreed to plead guilty to US criminal charges, while the fifth, UBS from Switzerland will plead guilty to rigging benchmark interest rates.

• Thursday, May 21st 2015 - 06:26 UTC

  Cristina Fernandez launches May Revolution week with strong messages

  

  President Cristina Fernández led on Wednesday a rally in the Buenos Aires City central railway station of Retiro where she praised the renovation of Argentina's railway system in an event that was part of the official celebrations marking a new anniversary of the May Revolution, which in 1810 was the beginning of the country's road to independence.

• Wednesday, May 20th 2015 - 05:44 UTC

  Beijing to the rescue of sliding Brazil: 53bn dollars in trade, finance and investment

  

  Beijing has come to the rescue of Brazil's slumping economy with trade, finance and investment deals worth at least 53 billion dollars in energy, mining, aviation and upgrading of dilapidated infrastructure.

• Wednesday, May 20th 2015 - 05:11 UTC

  Falklands' Isobel Deep well with good prospects of finding oil, say operators

  

  Premier Oil’s high-impact Falklands Isobel Deep well has hit oil shows in a suspected high pressure formation, partners Rockhopper Exploration and Falkland Oil & Gas Ltd., said Tuesday morning. But, the area will now have to be cased, delaying the drilling program.

• Wednesday, May 20th 2015 - 05:00 UTC

  Argentine inflation for April: official index 1.1%; Congressional index, 2.1%

  

  Inflation in Argentina during April reached 2.1% and 29% in the last twelve months according to the latest release from private consultants, an average of which is announced every month as the 'Congressional index' by members from the Lower House Freedom of Expression committee.