Brazil's fiscal accounts were in worse shape than initially thought after the suspension of Dilma Rousseff, underscoring the challenge facing the country's new economic team, acting President Michel Temer said.
The British pound dropped to a two-month low and the yen rallied Monday as jittery investors shifted into safer assets on worries about Britain's possible exit from the European Union. The flight to lower-yielding investments came as Asian stock markets plunged, with dealers awaiting meetings this week of the US and Japanese central banks.
Swiss wealth managers said Friday they would expect an influx of funds from skittish international investors if British voters choose to leave the European Union in a June 23 referendum. Participants in a seminar organized by the Swiss Private Bankers Association (SPBA) in Geneva voiced concern about what the implications would be if a Brexit is voted through in a referendum on June 23.
German Finance Minister Wolfgang Schaeuble warned Friday that if Britain voted to leave the European Union, it wouldn't have access to the single market like non-members Norway and Switzerland do.
The Alliance of the Pacific approved Argentina's request to join the group as an observer country, signaling a new turn in president Mauricio Macri's foreign policy. The announcement was made by Chile's foreign minister Heraldo Munoz following the Alliance's Ministers Council in Mexico City in anticipation of the summit scheduled for July first.
The World Bank has slashed its 2016 global growth forecast to 2.4% from the 2.9% estimated in January, due to stubbornly low commodity prices, sluggish demand in advanced economies, weak trade and diminishing capital flows.
The opening of an airport on the British overseas territory of St Helena has been delayed indefinitely due to safety fears - amid warnings the cost to the UK government could increase. The £285m airport is being paid for by the Department for International Development and was due to open in May.
The government of Interim President Michel Temer has a low approval rating among Brazilians and a majority of the country wants new elections to be held this year, according to a poll released on Wednesday.
Almost 100 million pesos (approx US$ 7.3 million) are held in offshore accounts by officials from the current Argentine administration economic Cabinet, a figure higher than the 18 million pesos President Mauricio Macri reported as having in a Bahamas account.
Brazil held interest rates steady for the seventh straight time on Wednesday, resisting pressure to slash borrowing costs amid a recession as inflation remains near double digits. In a unanimous vote, the central bank's monetary policy committee, Copom, decided at its last meeting led by governor Alexandre Tombini to keep its benchmark Selic rate at 14.25%, the highest in nearly a decade.