December 31, 2014
Venezuela recession confirmed as Maduro attacks US ‘oil war’
The Venezuelan economy is now officially in recession after the central bank released figures showing that it has been shrinking all year. The bank said the economy had declined by 2.3% in the third quarter of 2014. It also revealed for the first…
December 30, 2014
Travel firms sue creator of cheap airfare site
United Airlines and travel firm Orbitz have launched legal action against a site that seeks out cheap "hidden city" airfares. The site finds cheap fares by looking for flights that have a stopover at the city someone wants to travel to. The two…
December 23, 2014
Digicel/Claro merger in order, court rules
The Court of Appeal has ruled that the merger of telecoms providers Digicel and Claro was in keeping with provisions of the Telecommunications Act and does not fall within the Fair Competition Act (FCA). The Fair Trading Commission (FTC) had, in…
December 17, 2014
Fed Pledges ‘Patience’ Before Raising Interest Rates
Top officials of the U.S. central bank (Federal Reserve ) say they will keep their key interest rate at its current ultra-low level and be "patient" in assessing economic data before they raise rates. Interest rates were cut to nearly zero during…
December 16, 2014
Brent oil price falls below $59 a barrel
The price of Brent crude oil has fallen below $59 a barrel for the first time since May 2009. After dropping below $60, the Brent price then fell to $58.50 a barrel, before recovering slightly to $59.01. Oil prices have now nearly halved since June…
December 15, 2014
Greek central bank boss warns of ‘irreparable’ damage
Greek's economy faces "irreparable" damage from the ongoing political crisis, the boss of its central bank has warned. "The crisis in recent days is now taking serious dimensions...and the risk of irreparable damage for the Greek economy is now…
December 15, 2014
Russian rouble falls to new low against US dollar
The Russian rouble has dropped to a new low against the US dollar, as falling oil prices and Western sanctions continue to weigh on the country. As of Monday afternoon, it takes more than 60 roubles to buy a single dollar.The 60 mark is considered a…
December 10, 2014
Dominican military ‘linked’ to US$22.0M bank fraud
National District prosecutor Yeni Berenice Reynoso on Tuesday called for international cooperation in the Banco Peravia bank US$22.0 million fraud case and revealed that several military officials are being investigated for alleged links. She said…
December 9, 2014
Cable & Wireless Communications’ Shareholders Vote Overwhelmingly in Favour of Merger with Columbus International
Shareholders of Cable & Wireless Communications plc (“CWC”), the parent company of LIME, today voted overwhelmingly in favour of the merger with Columbus International Inc. (“Columbus”), operator of the consumer brand, Flow. Following the…
December 5, 2014
US adds 321,000 jobs in November
The US economy added 321,000 jobs in November, while the unemployment rate stayed at 5.8%, official Labor Department figures show. The number of jobs created was well above analysts' forecasts of about 225,000 new jobs in the month. US employers…