June 23rd was a historic day for Great Britain and Europe as a whole. No large country has ever before decided to leave the European Union. It remains to be seen what the consequences will be for the local and global economy, labour market, and UK trade position. What we do know is that Brexit victory is having an immediate effect on the British Pound and equity markets, sterling is plummeting and traders around the world are trying to make the best of it.
Do you remember when oil prices fell below $30 per barrel? Back in February, markets couldn’t see the light at the end of the tunnel as prices hit their lowest level since December 2013. But in a gravity defying twist, prices rebounded to $52 per barrel in early June and have stabilized at an average of $50 per barrel since then.
BBVA is rolling out, in partnership with BBVA Data & Analytics, a new service for merchants, inaugurating a new way of banking: Commerce360, a web tool that turns anonymized and aggregate data from purchases paid for by customers with a BBVA card in a physical POS terminal into useful data for business customers. Through this application, merchants will be able to access a set of statistical indicators, describing the economic activity of both their businesses, their customers and the area in which they operates. This information will allow them to design plans intended to drive their businesses’ and marketing strategies’ profitability.
BBVA Research analyzes the consequences of Brexit. The UK has decided to exit the European Union in a referendum with a 52%-48% margin, and a participation rate of 72%. Prime Minister (PM) Cameron has resigned and will remain in charge until October, when the Conservative Party will choose its next leader. This note and the attached presentation look at the economic consequences of Brexit.
The outcome of the referendum that took place yesterday in the UK, where most Britons (51.9%) voted for the UK to leave the European Union, has triggered reactions across the world. Here are the 5 statements that you cannot miss about the Brexit:
In his youth, Robert Butler Wilson (Geneva, Nebraska, United States, 1937) was strongly drawn to basic science. With the help of a grant, he was able to fulfill his dream of studying mathematics at Harvard University, where he graduated in 1959. However, his fortuitous attendance at an economic theory course convinced him to switch to the social sciences.
Saul Rodríguez works in Global Corporate Communication and is very aware of social media’s power, not only to divulge information and create communities, but also to make people smile. We asked him to tell us about his projects, which he of course did in a social media format.
Tourism in Latin America has increased considerably in recent years. In 2015, 96.6 million foreign tourists decided to visit the region, the highest figure in a decade. International arrivals at South America grew 4% last year, according to the World Tourism Organization.
There is broad consensus regarding the objective to expand the participation of economic agents in the financial system. Various studies have found that greater financial inclusion increases the population’s welfare, reduces the likelihood of falling into poverty, increases productivity and generates a significant positive impact on the country’s macro-economy. For all these reasons global economic policy agendas have been strongly recommending the implementation of measures to help strengthen financial inclusion in countries.