Economy

Monday, June 9th 2014 - 06:10 UTC
US Embassy praises Argentina: says 'investment climate has started to change'

The United States Chargé d'Affaires at the Embassy In Buenos Aires Kevin Sullivan, who is in charge of the embassy on an interim basis, praised Argentina’s agreement with Paris Club, ICSID and YPF-Repsol deal, saying “the situation is changing, in a good way” and pointing out a change in investment climate.
Saturday, June 7th 2014 - 05:23 UTC
Bank of England leaves rates unchanged; fears of house prices rising too fast

The Bank of England kept its benchmark interest rate steady on Thursday to support the UK economy's ongoing recovery, as figures showed house prices rose at the most rapid pace in almost 12 years during May.
Saturday, June 7th 2014 - 04:48 UTC
IMF welcomes Argentina's implementation of actions on CPI and GDP indexes

The International Monetary Fund (FMI) welcomed on Friday “all the specified actions,” taken by Argentine President Cristina Fernández administration, to improve Consumer prices and Gross Domestic Product indexes under INDEC National Statistics Bureau orbit.
Saturday, June 7th 2014 - 04:37 UTC
IMF warns UK about a possible 'housing bubble' and low productivity

The International Monetary Fund (IMF) has warned the government that accelerating house prices and low productivity pose the greatest threat to the UK's economic recovery. Rising property values could leave households more vulnerable to income and interest rate shocks.
Saturday, June 7th 2014 - 04:24 UTC
US economy has regained all 8.7 million jobs lost during the recession

Employers in the United States added 217,000 jobs in May, slightly below what analysts had been expecting. The US non-farm payroll figure was well below April's revised number of 282,000 jobs, but it was still the fourth month in a row of solid gains. The unemployment rate in May remained at 6.3%.
Friday, June 6th 2014 - 08:49 UTC
Countdown for Argentina's decisive litigation with hedge funds; IMF concern

The International Monetary Fund expressed “concern” on Thursday over the outcome of Argentina's 'vulture funds' case. The US Supreme Court is scheduled to consider on June 12 whether to hear Argentina's appeal of rulings requiring it to pay the holdout bondholders back in full.
Friday, June 6th 2014 - 08:38 UTC
Europe appeals to negative interest rates to stimulate the economy and inflation

The European Central Bank has introduced a raft of measures aimed at stimulating the Euro zone economy, including negative interest rates and cheap long-term loans to banks. It cut its deposit rate for banks from zero to -0.1%, to encourage banks to lend to businesses rather than hold on to money. The ECB also cut its benchmark interest rate to 0.15% from 0.25%.
Friday, June 6th 2014 - 08:21 UTC
Pope's broom again active: names four experts to watchdog Vatican finances

Pope Francis sacked on Thursday the five-man board of the Vatican's financial watchdog, all Italians, in the latest move to break with an old guard associated with a murky past under his predecessor.
Friday, June 6th 2014 - 08:16 UTC
Argentina announces auto industry accord with Brazil; May sales collapsed 40%

Argentina agreed to sign a one-year deal with Brazil to regulate vehicle trade between both countries, after a meeting held between Industry Minister Débora Giorgi and her Brazilian counterpart, Mauro Borges. The agreement will be signed on June 11 in Buenos Aires.
Friday, June 6th 2014 - 08:02 UTC
Italy planning to boost economy by including shadow economy as part of GDP

Drugs, prostitution and arms smuggling may not be legal, but it's all real economic activity, at least in Italy, which will now include illegal enterprises as part of its gross domestic product (a measure of the goods and services a nation produces). Italy has decided to boost the size of its economy by including the value of black market activities.