United States inflation will likely rebound as pressure from the dollar fades, allowing the Federal Reserve to raise interest rates gradually, Fed Vice Chairman Stanley Fischer said on Saturday in a speech careful not to overreact to a possible Chinese slowdown.
Brazil's largest oil workers' union advised Petrobras that it plans to begin an open-ended strike against the state-run oil company starting at midnight (0300 GMT) on Friday. The strike is in protest at a recent cut of about 40% in investments by Petrobras and the planned sale of about $15.1 billion of assets, the union, known as FUP, said in a statement on Tuesday.
By Gwynne Dyer - Good things come in threes, but so do bad things. Especially in economies. The financial crisis everybody has been waiting for is a hard landing of the Chinese economy, the world's second-biggest. It now seems to have arrived, though the Chinese government is still denying it.
Argentina's Central Bank (BCRA) has revoked the license of Gabriel Martino as president of the HSBC, forcing him to step down from his post. The entity commanded by Alejandro Vanoli considered Martino responsible for failing to establish necessary control mechanisms to prevent clients from evading taxes and moving capital abroad.
Brazil's Petrobras announced late Monday that it would raise the wholesale price of liquefied petroleum gas (LPG) by 15% effective Tuesday, the first price adjustment for the essential cooking gas in 13 years. The move is part of efforts by Petrobras to reduce losses on fuel sales, a company Petrobras source said.
As of next Friday, Chile's Sky Airlines becomes a budget or low cost airline with no food served on board, and at the most a soft drink. This is part of the changes to be implemented during the next 12 months by Holger Paulmann CEO and owner of the airline which was started by his father Jürgen Paulmann.
Asian markets continued to fall on Wednesday, with Shanghai opening down more than 4% amid continuing worries about China's growth. On Tuesday, data suggesting China's manufacturing sector was shrinking at its fastest pace in three years ignited a global market sell-off, resulting in US stocks closing down nearly 3%.
Analysts expect Brazil's economy to contract by 2.26% this year, reflecting greater pessimism in the wake of the release of figures last week showing that the country is in a recession, the Central Bank said Monday.
A US appeals court supported Argentina's appeal Monday against an earlier ruling that could have permitted a group of creditors to seize assets of Argentina's central bank.
Credit rating firm Moody’s cut its 2016 global economic growth forecasts, with China and United States both trimmed and Russia and Brazil seen staying in recession.