Economy

Friday, April 24th 2015 - 08:25 UTC
Deutsche Bank agrees to pay 2.5bn fine for manipulating the LIBOR rate

The New York State Department of Financial Services (NYDFS) announced Thursday that Deutsche Bank had agreed to pay 2.5 billion (2.3 billion Euros) to US and UK authorities as part of a legal settlement over the bank's role in manipulating the London Interbank Offered Rate (Libor).
Friday, April 24th 2015 - 08:08 UTC
EU regulators Russia's Gazprom of abusing dominant position; fine could reach 16bn

Russia’s biggest gas utility, Gazprom, was hit with an antitrust case by European Union regulators for “abusing” its dominant position and overcharging customers for gas supplies. The investigation against the Gazprom has been ongoing for two years.
Friday, April 24th 2015 - 08:03 UTC
Nasdaq index beats its 2000 record, closing at an all time high of 5.056

The United States tech-heavy Nasdaq index has closed at a record high, surpassing a level it last reached in 2000 at the height of the dot com bubble. The index gained 20.89 points to close at 5,056.06, besting the high of 5,048.62 it hit on 10 March 2000.
Thursday, April 23rd 2015 - 08:54 UTC
Griesa rules hedge funds entitled to details of recent Argentine bond offering and banks must comply

U.S. judge on Wednesday ruled that hedge funds suing over unpaid debt stemming from Argentina's 2002 default are entitled to details of a recent bond offering by Buenos Aires.
Thursday, April 23rd 2015 - 08:45 UTC
Brasil's third biggest builder contracting drastically after Petrobras scandal and bankrupcy

Brazilian engineering conglomerate Grupo OAS expects revenue to shrink more than 50% by 2017 as it sells operations and refocuses on civil construction after filing for bankruptcy protection due to a bribery scandal at a state-run oil company.
Thursday, April 23rd 2015 - 07:09 UTC
Petrobras reveals extent of its losses because of corruption and mismanagement

Brazil's state-run oil giant Petrobras which has been bashed by a wide-spread corruption scandal, reported on Wednesday a 2014 net loss of 21.6 billion Reais (7.2 billion dollars) after taking 50.8 billion Reais in charges.
Thursday, April 23rd 2015 - 04:50 UTC
Cristina Fernandez invites Russian investors to Argentina; Thursday she meets Putin

“Argentina is a country where it is worth investing in and producing, not only because of its natural resources, also because of the human resources we have” said president Cristina Fernández in Moscow on an official visit to Russia. She praised the “recovery of Argentina's flag carrier that allows connectivity among all the zones in the country, not only the richest ones.”
Wednesday, April 22nd 2015 - 15:37 UTC
Spain to invest 421m Euros to promote and develop aquaculture

Spain's Minister of Agriculture, Food and Environment, MAGRAM, Isabel Garcia Tejerina, announced that 421 million Euros will be allocated to the Multiannual Aquaculture Strategic Plan 2014/2020. The plan outlines how aquaculture will be conducted in coming years in the framework of the new EU Common Fisheries Policy (CFP) and the European Maritime and Fisheries Fund (EMFF).
Wednesday, April 22nd 2015 - 06:35 UTC
Petrobras receives financial support from China and local banks

Brazilian state-run oil company Petrobras approved a series of financial agreements with local and international banks that will meet its financing needs in 2015, the company announced. In a filing with local stock regulators, Petrobras said that the deals will provide the company with access to about 6.2 billion dollars, including a 3.5bn financing contract reached with China Development Bank on April 1.
Wednesday, April 22nd 2015 - 06:03 UTC
Understanding the drivers of prosperity in Latin America and the Caribbean

A new World Bank Group report, “Shared Prosperity and Poverty Eradication in Latin America and the Caribbean”, explores the performance of eight countries to understand what has driven progress, and what it will take to sustain it.