Economy

• Tuesday, January 27th 2015 - 06:44 UTC

  Germany waiting for Tsipras government move: Greece must stick to its commitments

  

  Greece’s election has sent shockwaves throughout Europe and especially Germany. The Euro zone’s biggest economy and paymaster has reluctantly footed a big bill for bailing out Greece and other euro members, extending financial aid in return for strict and unpopular austerity measures.

• Friday, January 23rd 2015 - 06:20 UTC

  EU, US and IMF clash over the European economy and the Euro in Davos

  

  Europeans, including IMF chief and Americans clashed on Thursday in Davos during a debate on monetary stimulus that degenerated into a skirmish over the European Union economy and the Euro.

• Friday, January 23rd 2015 - 05:43 UTC

  In “God will provide” speech Maduro admits economic failure and calls for unity

  

  In a three-hour State of the Nation speech to the National Assembly on Wednesday night, president Nicolás Maduro acknowledged some of the economic realities facing Venezuela: the economy contracted by 2.8% in 2014 and inflation stood at 64%.

• Thursday, January 22nd 2015 - 11:36 UTC

  Oil price collapse hurting some more than others

  

  U.S. oil and gas rig counts dropped to their lowest level in over four years, falling by an additional 74 units for the week ending on January 16. The lower count provides fresh evidence that low oil prices are forcing drillers to pare back operations and slash spending.

• Thursday, January 22nd 2015 - 06:39 UTC

  Brazil central bank increases basic rate to 12,25%, highest since August 2011

  

  Brazil's central bank raised interest rates to a more than three-year high on Wednesday, maintaining an aggressive pace of monetary tightening to contain high inflation, help the economy back on its tracks and win investors disillusioned with the once-booming economy.

• Thursday, January 22nd 2015 - 06:26 UTC

  US/Cuba talks take off and are described as “productive and constructive”

  

  US and Cuban officials launched historic talks to shed their Cold War-era hostility on Wednesday, complimenting each other on the first day's progress despite persistent differences over migration policy.

• Thursday, January 22nd 2015 - 05:52 UTC

  Argentina's economy forecasted to contract 1.5% this year, says IMF

  

  The International Monetary Fund (IMF) has predicted that Argentina's economy will contract by 1.3% in 2015, a figure smaller than original estimates, as the organization revised its world projections to reflect tumbling oil prices.

• Wednesday, January 21st 2015 - 08:03 UTC

  Obama pledged 'middle-class economics' but faces a Republican congress

  

  US President Barack Obama has declared an end to the financial crisis and pledged economic policies to benefit all Americans, in his annual State of the Union address to Congress. In a speech devised to appeal to working families, Mr Obama outlined his strategy for “middle-class economics”.

• Wednesday, January 21st 2015 - 07:05 UTC

  Argentina confirms customs imports restrictions despite WTO ruling

  

  The administration of president Cristina Fernandez confirmed to Argentine business leaders that customs restrictions on imports will stay in place, despite strong international pressure for barriers to be lifted.

• Wednesday, January 21st 2015 - 06:51 UTC

  Explosive report on world's wealth from Oxfam: 1% of super rich own 48%

  

  More than half the world’s wealth will be owned by just one percent of the population by next year as global inequality soars, anti-poverty charity Oxfam predicted on Tuesday in an explosive document on the eve of a major meeting of the world’s political and business elite.