April, 2016

• 14 April

  S Korea’s ruling party reels from shock poll defeat

  

  Seoul / AFP South Korean President Park Geun-hye’s ruling conservative party was reeling on Thursday from a shock electoral defeat that broke its 16-year parliamentary majority and threatened its chances of retaining the presidential Blue House in 2017. Voters punished the party for its economic record, analysts said, with high levels of youth unemployment accounting for particularly high dissatisfaction among ...

  Read More »
• 14 April

  BOE says Brexit may weigh on growth as key rate kept at 0.5%

  

  Bloomberg Bank of England officials said the U.K.’s European Union referendum may already be weighing on growth as they kept their key interest rate at a record low. The nine-member Monetary Policy Committee, led by Governor Mark Carney, unanimously agreed to maintain the benchmark at 0.5 percent — where it’s been for more than seven years. In a ramping up ...

  Read More »
• 14 April

  Eurozone inflation rate revised up to zero in March

  

    London / AP The latest bout of falling prices across the 19-country eurozone has ended — after just a single month. Revised figures on Thursday from the European Union’s statistics agency showed that inflation was flat in the year to March. That’s up from the initial estimate of a 0.1 percent fall and February’s 0.2 percent annual drop. The biggest ...

  Read More »
• 14 April

  Porsche investor suits combined under German ‘Class-Action’ law

  

  Bloomberg Lawsuits filed by hundreds of Porsche SE investors over the company’s use of complex financial instruments in 2008 before its failed takeover of Volkswagen AG will be combined under a special procedure to handle some large civil cases in Germany. A court in Hanover ruled that it will send the cases to appellate judges in the northern city of ...

  Read More »
• 14 April

  Norway oil executives warn on long-term supply as polls loom

  

    Bloomberg Elections are approaching in Norway, accompanied by the familiar sound of oil executives and politicians arguing over the environmentally sensitive Lofoten islands in the Arctic. Oil prices may have plunged in a global economy awash with oversupply, but producers in Norway say they’re thinking much longer term. Statoil ASA, which has been lobbying for years to open the ...

  Read More »
• 14 April

  Putin assures Russians economic expansion to resume next year

  

  Bloomberg President Vladimir Putin told Russians that the economy will resume growth next year in his annual call-in show on Thursday, aiming to shore up his support as the country’s longest economic downturn in two decades pushes more people into poverty. “The situation hasn’t been resolved yet but the trend is positive,” Putin said, pointing to forecasts that the economy ...

  Read More »
• 14 April

  Exxon says ‘$25 bn rule’ will sink Deepwater oil drilling

  

  Bloomberg The world’s biggest oil explorers are fighting a U.S. plan to toughen offshore drilling rules that Exxon Mobil Corp. said will cost $25 billion over 10 years and render many offshore discoveries worthless. The Obama administration will issue the sweeping new regulations as part of an effort to reduce the number of well blowouts after the explosion aboard the ...

  Read More »
• 14 April

  Energy XXI files for bankruptcy after $5 billion expansion

  

    Bloomberg Energy XXI Ltd., a U.S. oil and gas explorer, filed for bankruptcy protection after spending $5 billion on acquisitions in the years leading up to the crude slump. The company entered Chapter 11 in Houston after reaching a restructuring agreement with noteholders, it said on Thursday in a statement. “Energy XXI will eliminate more than $2.8 billion in ...

  Read More »
• 14 April

  Brazil’s Ibovespa climbs as parties abandon Rousseff

    Bloomberg Brazil’s Ibovespa equity index rallied to a 10-month high as traders increased wagers that President Dilma Rousseff will be impeached, paving the way for a new government to pull the economy out of its worst recession in a century. State-controlled oil producer Petroleo Brasileiro SA, iron ore miner Vale SA and lender Itau Unibanco Holding SA contributed the ...

  Read More »
• 14 April

  Argentina wins court ruling letting bond sale proceed

  

  Bloomberg Argentina can go ahead with a planned $15 billion bond sale to pay off holdout creditors from a 2001 default, ending more than a decade of litigation over repayment of the debt that kept South America’s second-biggest economy out of international credit markets. The U.S. Court of Appeals in New York cleared the way for the bond sale by ...

  Read More »