Monday, October 5th 2015 - 23:20 UTC

Agricultural expansion main factor of Brazil's deforestation and it's expanding

 The study by IBGE, says the destruction of Amazon jungles and the savannahs of central Brazil went faster between 2010/12 that in the previous 10 years.

Agricultural expansion is the chief contributing factor to the deforestation of Brazilian ecosystems and has accelerated in recent years, according to an official study released last week.

Saturday, October 3rd 2015 - 08:47 UTC

Argentina will pay $5.9bn mature Boden 15 bonds on Monday, and issue new debt

Argentina targets raising $500 million in the auction of notes under Argentine law. The new Bonar 20 will carry an 8% coupon, minister Kicillof announced

Argentina on Monday will pay the $5.9 billion maturity due for its Boden 15 bonds in cash and issue new debt the following day, Economy Minister Axel Kicillof said on Friday. Argentina which is in technical default on some debt because of a legal fight with bondholders in the United States, targets raising $500 million in the auction of notes under Argentine law, Kicillof told a news conference.

Saturday, October 3rd 2015 - 08:11 UTC

Rousseff reshuffles cabinet and gives more power to key ally PMDB and Temer

Rousseff said the reshuffle guarantees “a more stable majority” for the ruling  coalition in Congress and the approval of urgently needed legislation

Brazilian President Dilma Rousseff on Friday announced a Cabinet reshuffle that reduces the number of posts from 39 to 31 and gives a more significant role to the Brazilian Democratic Movement Party, or PMDB, the country's biggest and a key ally of her Workers' Party.

Saturday, October 3rd 2015 - 07:55 UTC

Rousseff's main coalition ally, “110 satisfied” with latest changes, but 'there's some fat left'

“We're 110% satisfied, but there's even some fat left” said minister Katia Abreu, who is also representative of the agro-business lobby

Brazil largest party, main ally and pillar of President Dilma Rousseff's fragile coalition said it was “110% satisfied” with the changes announced on Friday: reducing cabinet posts from 39 to 31, slashing thousands of coveted jobs for political appointees and cutting her salary and that of the vice president by 10%.

Saturday, October 3rd 2015 - 07:29 UTC

US jobs created in September sharply lower than expected; fears global slow-down is hitting America

The figure was far lower than the 205,000 increase forecast by economists. The number of jobs in July and August were revised down by a combined 59,000.

The US economy added just 142,000 jobs in September, lowering the chance of an interest rate rise this year. The figure was far lower than the 205,000 increase forecast by economists. The number of jobs created in July and August were revised down by a combined 59,000.

Friday, October 2nd 2015 - 06:09 UTC

Zurich, Geneva and New York, most expensive cities in the world, says UBS

New York is the third-most expensive; excluding rent, and rises to the top spot when rent is included.

UBS released on Thursday the 16th edition of its UBS Prices and Earnings study, which examines prices, wages and earners' purchasing power in 71 cities worldwide. The study, published roughly every three years since 1971, compiles over 68,000 data points reflecting economic events that have shaped the world since the last edition in 2012.

Friday, October 2nd 2015 - 05:58 UTC

Mercosur and EU analyze 'level of ambition' of their trade proposals

The two-day talks are scheduled to end on Friday and on the EU side are headed by Rupert Schlegelmilch, who is a Director of the EU Trade Department

Technical delegates from Mercosur and the European Union are holding a round of talks in Asunción to consider 'levels of ambition' for the coming exchange of tariff proposals with the purpose of reaching a much delayed free trade agreement, said Paraguayan Deputy Economic Relations minister, Rigoberto Gauto.

Thursday, October 1st 2015 - 08:51 UTC

Petrobras hikes gasoline and diesel prices to help with the company's finances

The price hikes, 6% and 4%, are the first since increases of 3% for gasoline and 5% for diesel imposed in November 2014.

Brazil's state-controlled Petrobras unexpectedly increased wholesale gasoline and diesel prices in the domestic market, potentially widening a controversial premium to international prices. The heavily indebted company said that the gasoline price would increase by 6%, and diesel by 4%, as of this Wednesday.

Thursday, October 1st 2015 - 08:45 UTC

Slumping demand from China and Brazil put a drag on world trade, says WTO

The heaviest downward revisions came from Asia, which saw WTO export growth estimates cut roughly 40% and import growth nearly by half.

The World Trade Organization shaved half a percentage point off its global trade projections for 2015, after a disappointing first half of the year left export growth weakened across the developing world. World merchandise trade volume is expected to rise 2.8% for the year, down from April projections of 3.3%. The WTO also revised its 2016 projections to 3.9%, from 4.0%.

Tuesday, September 29th 2015 - 07:26 UTC

Audi admits 2.1 million of its cars are fitted with emissions cheating software

Around the world, the affected Audi models include the A1, A3, A4, A5, A6, TT, Q3 and Q5, but the scope was more limited in the United States: 13.000 cars

Luxury car brand Audi has confirmed that 2.1 million of its cars around the world were outfitted with software that enabled them to cheat emissions standards. The announcement clarifies Audi's role in the diesel emissions scandal roiling its parent company, Volkswagen.


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