Economy

Friday, March 6th 2015 - 18:21 UTC
China lowers 2015 growth estimate to 7%; in 2014 expansion was the slowest in 24 years

Shares in China fell after the country's government set its official growth target at 7% for this year. The rate is lower than last year's target of 7.5%, which China missed after it grew at the slowest pace in 24 years. The Shanghai Composite closed down 1% at 3,248.48, while Hong Kong's Hang Seng ended 1.1% lower at 24,193.04.
Friday, March 6th 2015 - 09:06 UTC
Mercosur has failed, Argentina needs new partners: the Pacific Alliance?

“Mercosur as a unified space has failed and Argentina must start thinking in a new partner, which could be the Pacific Alliance” said one of Argentina's main businessmen with interests in a diversified portfolio, Eduardo Eurnekian. He made the statement on the sidelines of the World's Chambers Federation executive board meeting in Buenos Aires.
Friday, March 6th 2015 - 08:48 UTC
Argentine farmers and government clash over next week's three day walkout

Argentine farmer organizations lashed back at Agriculture minister Carlos Casaquimela who questioned a three-day strike announced for next week to protest government policies, and which he described as 'unjustifiable'.
Friday, March 6th 2015 - 08:44 UTC
The Brazilian currency slides past three to the dollar, fist time since 2004

Brazil's currency, the Real slid past three to the dollar (3.01) for the first time in 10 years on Thursday, in the latest sign of weakness of Latin America's largest economy.
Friday, March 6th 2015 - 07:42 UTC
UK and Mexico sign memorandum to further expand and finance trade

The UK and Mexico signed in London a memorandum to further support trade and markets, and advance cooperation between the two countries export promotion organizations, UK Export Finance and Bancomext, Mexican Trade Development Bank.
Friday, March 6th 2015 - 07:32 UTC
PM Cameron and Peña Nieto discuss agenda of bilateral and global issues

British Prime Minister David Cameron welcomed President Peña Nieto of Mexico to Downing Street on Thursday afternoon as part of his State Visit to the UK.
Friday, March 6th 2015 - 07:22 UTC
Argentina denies any devaluation to compensate for the plunge of Brazil's Real

Despite Brazil's 'violent devaluation' of its currency, Argentina will not pursue the same path because the country needs “to give certainty” and “avoid instability” said Economy minister Axel Kicillof. This week the Real plunged to its lowest level in over a decade burdened by economic and political uncertainty
Friday, March 6th 2015 - 07:06 UTC
UK leaves interest rates unchanged at record low 0.5% for six years

UK interest rates have been kept unchanged again by the Bank of England, meaning they have now been at their record low of 0.5% for six years. Rates were first cut to 0.5% in March 2009 as the Bank sought to lift economic growth amid the credit crunch.
Friday, March 6th 2015 - 06:56 UTC
Argentine central bank chairman defends the 50-peso Malvinas bill

Argentina's Central Bank Governor Alejandro Vanoli defended the new 50-peso banknote which features the Falklands/Malvinas Islands, after it was belittled by the a minister of state at the British Foreign Office.
Thursday, March 5th 2015 - 08:23 UTC
US Judge names lead plaintiff in class-action lawsuit against Petrobras

A U.S. federal judge on Wednesday named a trustee of a British pension fund as the lead plaintiff in a class-action lawsuit against Brazil's state-run oil company Petrobras and its top executives.