The world's largest ship fuel supplier, OW Bunker, has filed for bankruptcy after alleged fraud. The company's troubles came to light earlier this week when it discovered suspected fraud by senior employees in a Singapore-based subsidiary.
Mexico has abruptly cancelled a 3.75bn dollars contract awarded on Monday for a Chinese-led consortium to build a high-speed passenger rail link. President Enrique Peña Nieto said he wanted to avoid any doubts about the legitimacy and transparency of the bidding process.
The US economy added 214,000 jobs in October, while the unemployment rate has fallen to 5.8%, official Labor Department figures show. The number of jobs created is slightly below forecasts of about 230,000 new posts, but still indicates a healthy US jobs market.
The Falkland Islands Tourist Board has been working hard to produce the highest standard of representation for the islands to date. Following a highly successful campaign over the past two and a half years of developing a higher awareness for the Falkland Islands through targeted and high level marketing, promotions and events, have pulled off the most successful of the years promotions.
Brazil's Central Bank is concerned about inflation, now running at 6.75%, according to the minutes of last week meeting of the policy committee, released on Thursday.
Brazil raised domestic wholesale gasoline and diesel prices for the first time in more than 11 months effective Friday in a move to bolster the finances of the heavily indebted Petrobras oil and gas company after years of refining losses.
A London court gave Argentine holdout creditors in New York a two-week window on Thursday to challenge declarations sought by a powerful group of investors in a dispute over interest payments worth about 226 million Euros. The payments involve Euro-denominated Argentine bonds which were issued under English law.
US corporation firm General Electric has “over-invoiced” imports in a financial maneuver designed to access additional dollars in the official foreign exchange market, claimed Argentine Cabinet Chief Jorge Capitanich. GE thus becomes the second large US company in less than a week to face accusations of financial trickery in order to obtain economic benefits.
The number of Brazilians living in extreme poverty grew for the first time in a decade, according to government figures. The Institute of Economic Research reported that the number of people in households with incomes below the poverty threshold of 30 dollars rose from 10.1 to 10.5 million people, which means a 3.7% increase.
The president of the European Central Bank (ECB), Mario Draghi, says the bank stands ready to give the Euro zone further economic stimulus should it become necessary. The comments boosted shares in Europe. It also prompted a fall for the euro, with analysts increasingly braced for more dramatic stimulus measures.