Economy

Monday, June 9th 2014 - 20:52 UTC
Positive scenario for Argentina's decisive battle with hedge funds later this week

New York judge Thomas Griesa rejected last week a request by hedge fund investor Paul Singer to chide Argentina over its apparent “best option” plan to default on all its debt should it lose its last-chance appeal later this week before the US Supreme Court.
Monday, June 9th 2014 - 16:06 UTC
May inflation in Brazil moderates but drought-stricken food prices still impact

Brazil's monthly consumer prices index slowed in May versus the previous month, but not as much as expected, as the impact of one of the worst droughts in decades in food prices receded only partially. The IPCA rose 0.46% compared with a 0.67% climb in April, the Brazilian Geographic and Statistics Institute, or IBGE, said.
Monday, June 9th 2014 - 07:45 UTC
Hillary Clinton favors easing US economic embargo on Cuba

While secretary of state, Hillary Clinton urged President Barack Obama to ease the U.S. economic embargo against Cuba, according to excerpts from her memoir due out next week.
Monday, June 9th 2014 - 06:27 UTC
FAO Food Price Index down for the second consecutive month in May

The FAO Food Price Index was down for the second consecutive month in May, continuing its retreat from the 10-month high it experienced in March. Prices fell as generally ample supplies weighed on international prices for most commodities included in the Index.
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.