Economy

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.
Thursday, March 5th 2015 - 08:17 UTC
Brazil raises benchmark interest to 12.75%, highest level since 2009

Brazil’s central bank raised its benchmark interest rate to 12.75% Wednesday, the highest level since 2009, as it struggles to get price increases under control amid sluggish economic growth and deepening political turmoil.
Thursday, March 5th 2015 - 07:25 UTC
Car sales in Argentina plunge; worst February since 2009

The second month of the year marked another negative result for auto sales in Argentina, which dropped 28% compared to February last year, showing how the sector’s downward trend appears to have no end in sight. Only 41,998 vehicles were sold last month, according to the ACARA Argentine car dealership association, the lowest figure for the month since 2009.
Thursday, March 5th 2015 - 07:11 UTC
Rousseff faces a revolt in Congress from her ruling coalition main ally

Brazilian President Dilma Rousseff, (and her political mentor Lula da Silva), raced on Wednesday to defuse a rebellion by legislators upset about her budget austerity plans and her handling of a corruption scandal at state-run oil company Petrobras, which now threatens political stability.
Wednesday, March 4th 2015 - 06:14 UTC
Brazil's currency at its weakest since September 2004...and sliding

The Brazilian Real reached on Tuesday its weakest level against the dollar in more than 10 years, amid concern the country’s political and economic situation is growing worse.
Tuesday, March 3rd 2015 - 22:37 UTC
Malvinas' 50-Peso bill, an Argentine stunt, says Foreign Office minister

Britain derided a new Argentine banknote featuring the disputed Falkland Islands as a stunt on Tuesday and said it had no intention of discussing sovereignty over the archipelago with Buenos Aires.
Tuesday, March 3rd 2015 - 06:34 UTC
Uruguay's economy vulnerabilities: inflation and budget deficit, says IMF report

The Uruguayan economy is decelerating gradually after a decade of strong and inclusive growth. Export receipts are growing at a markedly lower clip than a few years ago and domestic demand growth is slowing towards a more sustainable pace. At the same time, inflation remains above the target range and the primary fiscal balance has weakened further in 2014.
Tuesday, March 3rd 2015 - 06:17 UTC
Truckers strike in Brazil still disrupting traffic in several states; soy harvest delayed

Striking truck drivers resumed some roadblocks in Brazil on Monday even as the government cracked down on protesters and promised to implement a law to lower toll costs and give other benefits to the transport sector.