International

• Wednesday, August 12th 2015 - 15:18 UTC

  China's devaluation triggers fears of a new round of currency wars

  

  China's shock 2% devaluation of the Yuan pushed the dollar higher and raised the prospect of a new round of currency wars, just as Greece reached a new deal to contain its debt crisis. Stocks fell in Asia and Europe as investors worried about the implications of a move designed to support China's slowing economy and exports.

• Wednesday, August 12th 2015 - 08:53 UTC

  Gibraltar a ‘fundamental objective' of Spanish foreign policy with ample funds to support it

  

  Pushing Spain’s claim over the sovereignty of Gibraltar is “a fundamental objective” for Spanish foreign policy, according to budget plans presented by the Ministry for Foreign Affairs in Madrid this week.

• Wednesday, August 12th 2015 - 08:25 UTC

  Sargassum bloom are ruining Caribbean beaches and tourism season

  

  The picture-perfect beaches and turquoise waters that people expect on their visits to the Caribbean are increasingly being fouled by mats of decaying seaweed that attract biting sand fleas and smell like rotten eggs.

• Wednesday, August 12th 2015 - 07:51 UTC

  Wednesday’s China shockwave: Yuan devalued 1.6%; IMF support, US Treasury cautious

  

  Chinese shares were lower on Wednesday as its central bank again devalued the yuan, following Tuesday's record cut. The People's Bank of China fixed the daily guiding rate for the currency down 1.6% to 6.3306 against the dollar.

• Tuesday, August 11th 2015 - 08:18 UTC

  China devalues the currency in support of its struggling export sector

  

  China has moved aggressively to devalue its currency in a bid to support its struggling export sector as the economy shows further signs of weakness on the way to reporting its slowest annual pace of growth in 25 years. The People's Bank of China surprised the market on Tuesday weakening the fix on its daily reference rate for the Yuan by a record 1.9%.

• Tuesday, August 11th 2015 - 08:06 UTC

  Google restructures creating new parent company, Alphabet

  

  Google has unveiled a surprise restructuring, creating a new parent company called Alphabet Inc. Under the rebranding, Google will retain its best-known businesses, such as search, apps, YouTube and Android.

• Tuesday, August 11th 2015 - 07:55 UTC

  Argentina wins a battle in its ongoing struggle with hedge funds

  

  Argentina on Monday won a battle in its ongoing struggle with hedge funds holding sovereign bonds. In this case Argentina managed the reversal of a U.S. judge's ruling that a group of bondholders suing over its defaulted debt said entitled them to $700 million.

• Monday, August 10th 2015 - 07:20 UTC

  Pope Francis criticizes destruction of forests to plant soy bean

  

  Pope Francis criticized the destruction of forests in order to plant soy in an interview with an Argentine radio station on Saturday, reinforcing his message that the environment should take precedence over financial gain.

• Monday, August 10th 2015 - 07:00 UTC

  Dairy and vegetable oils prices help FAO's July food index reach its lowest since 2009

  

  Prices for major food commodities in July hit their lowest average monthly level since September 2009 as sharp drops in the prices of dairy products and vegetable oils more than offset some increases for those of sugar and cereals. Meat prices, meanwhile, remained stable.

• Monday, August 10th 2015 - 06:46 UTC

  Global oil supply more fragile than you think

  

  Many oil companies had trimmed their budgets heading into 2015 to deal with lower oil prices. But the rebound in April and May to $60 per barrel from the mid-$40s suggested that the severe drop was merely temporary.