President Dilma Rousseff is scheduled to address Brazil on national television Friday evening, the same day that Congress started a three-day debate to decide whether there are enough arguments to begin the impeachment process that could lead to her removal from office. She is charged with manipulating budget accounts that helped her government present balanced accounts for the 2014 presidential elections.
US regulators have rejected the plans of five big US banks for closing their operations in the event of a crisis. Banks labeled too big to fail must have a so called living will that would allow them to close down without the help of public money. Bank of America, Bank of New York Mellon, JPMorgan Chase, State Street and Wells Fargo have until 1 October to submit improved plans.
China's economy grew 6.7% in the first quarter of the year compared to the same time last year, announced the government. It is the slowest quarterly growth in the Chinese economy in seven years, but in line with expectations and China's own growth targets.
Argentina, the world's No. 3 soy exporter, said on Thursday the government must authorize any grain inspection, dealing a blow to Monsanto Co. which wants exporters to check cargoes to make sure farmers had paid to produce its genetically modified soybeans.
A British exit from the European Union would pose “serious downside risks” to an already slowing global economy, the head of the International Monetary Fund said on Thursday.
The Government of St Helena has announced that the official opening of the island's new airport is set to take place on 21 May 2016, in the presence of HRH The Prince Edward, Earl of Wessex. For the British Overseas Territory island in mid Atlantic and with an only monthly sea link, the airport means a dream come true, and both the St Helena and UK governments hope that this will lead to eventual financial self-sustainability.
Peabody Energy, the world's largest privately-owned coal miner, has filed for bankruptcy protection in the US after a sharp fall in coal prices left it unable to repay its debts. The firm said the move was aimed at reducing debt and that all its mines and offices would continue to operate.
The United States Court of Appeals paved the way on Wednesday for Argentina to raise billions of dollars to pay a group of hedge funds, bringing it one step closer to re-entering international markets for the first time in 15 years. In a ruling from the bench, three judges on the court of appeals upheld a ruling by Judge Thomas Griesa of District Court in Manhattan to lift an injunction that had barred Argentina from paying its creditors and eventually led the country to default in 2014.
Cristina Fernandez to testify on dollar/futures; supporters camping outside the courthouse in Buenos Aires
Hundreds of supporters are expected to cheer former Argentine President Cristina Fernandez during a court appearance on Wednesday after returning to Buenos Aires for the first time since November's election.Fernandez who governed Argentina for eight years, has been called to testify about alleged irregularities in dollar futures trading that led to losses of almost US$4 billion for the central bank. Her allies say no crime was involved and that she's being politically persecuted.
As the 90th birthday of Britain’s Queen Elizabeth II approaches, the British Overseas Territories of Ascension, British Antarctic Territory, British Virgin Islands, Falkland Islands, and South Georgia & South Sandwich Islands have launched a collection of crown coins to mark this milestone occasion.