Economy

Tuesday, April 29th 2014 - 21:24 UTC
IATA calls on Venezuela to honor payment of airline funds, totaling 3.9bn

The International Air Transport Association (IATA) called on the Venezuelan government urgently to honor its commitment made in March to permit the repatriation of 3.9 billion dollars of airline funds at fair exchange rates. The funds are from sales of airline tickets in Venezuela and are being held in contravention of international treaties.
Tuesday, April 29th 2014 - 06:31 UTC
Argentina and Brazil plan to prop economies by stimulating the auto industry

Argentine Economy Minister Axel Kicillof and Industry Minister Débora Giorgi fly to Brasilia on Tuesday in a bid to swing the automobile trade balance in Argentina’s favor, with the sector accounting for the majority of a total 3.15 billion dollars trade deficit. From Brazil Finance minister Guido Mantega confirmed bilateral discussions on the auto industry and exports.
Tuesday, April 29th 2014 - 06:03 UTC
Three former Barclays employees charged with manipulation of Libor rate

Three former employees of Barclays have been charged in connection with the alleged manipulation of the London Interbank Offered Rate (Libor). The Serious Fraud Office, SFO, said Jay Vijay Merchant, Alex Julian Pabon and Ryan Michael Reich had been charged for “conspiracy to defraud”.
Tuesday, April 29th 2014 - 06:00 UTC
The Houblon £50 notes 20-year cycle ends next Wednesday says BoE

The £50 note featuring the first governor of the Bank of England, Sir John Houblon, will be withdrawn on Wednesday after 20 years in circulation. From that time, only the £50 banknote featuring Matthew Boulton and James Watt, which was introduced in 2011, will hold legal tender status.
Monday, April 28th 2014 - 23:53 UTC
Coffee prices soar as Brazil's crop plummets because of adverse weather

Because of adverse climate conditions Brazil’s Arabica coffee prices have recently surged 94%, to 2.144 dollars for half a kilogram ($2.30) on the New York futures market.
Monday, April 28th 2014 - 23:40 UTC
FIFA's Valcke downplays 'favelas' violence: “finally we will be talking about football”

FIFA secretary general Jerome Valcke downplayed recent violence in the favelas of Rio de Janeiro as a threat to the upcoming World Cup. The city was the scene of violent outbursts last week when a dancer was found dead with his friends and family blaming the killing on the police.
Monday, April 28th 2014 - 08:42 UTC
Brazil's current account deficit climbs to 3.6% of GDP during March

Brazil's current account deficit narrowed in March after an improvement in the trade balance, but it was still the second largest on record for that month, central bank data showed. The country posted a current account deficit of 6.248 billion last month, down from 7.445bn in February.
Saturday, April 26th 2014 - 05:57 UTC
Argentina's industrial production and trade surplus falls point to recession

Argentina's industrial production contracted 6% in March from the same month last year, the government said on Friday, marking the sixth consecutive monthly loss in factory output due in part to weakness in the auto-making sector. In another report released on Friday Argentina's trade surplus contracted dramatically, indicating the country could be effectively heading for a recession.
Friday, April 25th 2014 - 21:43 UTC
PM Cameron calls on BOT to have public registries with names of companies' owners

British Prime Minister David Cameron has written to the leaders of the UK’s overseas territories and crown dependencies to encourage them to create public registries that would reveal the true owners of companies registered in their jurisdictions.
Friday, April 25th 2014 - 06:04 UTC
After a long debate, Argentine Congress approves Repsol/YPF agreement terms

After a 16-hour debate, Argentina's Lower House passed the law to pay Spanish Repsol 5 billion dollars in bonds to compensate for the 2012 seizure of a majority stake in Argentina's energy company YPF.