Argentina's economy grew 0.5% in the first quarter the government said on Wednesday, adding that it saw activity leveling out this year before accelerating in 2017. The year-on-year result, published by the newly revamped Indec statistics agency, followed analysts' forecasts for a 1.3% contraction for the January through March period.
There was a nasty surprise awaiting passengers in the arrivals hall at Rio De Janeiro's Galeao International Airport on Monday. Along with the relatives carrying flowers and taxi drivers waiting with name boards there were lines of off-duty police with banners that had a far more ominous message: Welcome to Hell.
The US economy grew faster than previously estimated in the first quarter of the year, according to official figures. The Commerce Department said gross domestic product (GDP) grew at an annual pace of 1.1% in the quarter, up from an earlier estimate of 0.8%. The upwards revision was helped by stronger export sales.
A defiant Jeremy Corbyn, leader of the UK's opposition, has said he will “not betray” Labour members by resigning, despite three-quarters of the party’s MPs voting against him in a no confidence motion. Just 40 MPs voted to back Corbyn in the secret ballot, far short of the number needed to fill a complete frontbench.
Prime Minister David Cameron said on Tuesday in Brussels that the rest of the EU wants to have the “closest possible” relationship with the UK after Brexit. After discussing the vote to leave with other EU leaders, he said trade and security co-operation would be vital whatever the shape of future links.
Brazil's inflation will again miss the government target next year, but will be getting much closer at 4.7%, the Central Bank said on Tuesday. For this year, inflation is forecast at 6.9%, well off the 4.5% target. However, even that represents relief for Latin America's largest economy, but sickly economy where annual inflation hit 9.32% in May.
Investors suing Petrobras to recoup billions of dollars in losses argued on Tuesday that the arrests and plea deals of top company executives prove that it knew of a massive bribery and political kickback scheme. Lawyers for the investors asked U.S. District Judge Jed Rakoff in Manhattan to rule, ahead of a trial set for Sept. 19, on claims that the company violated U.S. securities laws, according to a court filing.
UK Prime Minister David Cameron is to face leaders of other EU states for the first time since the referendum vote for Brexit, as he travels on Tuesday to Brussels for what is likely to be his last European Council summit as prime minister. He is expected to use the potentially awkward meeting to urge the other 27 leaders and EU institutions to take a “constructive” approach to negotiations over a new relationship with the UK.
Britain’s ability to protect the interests of Gibraltar has been damaged by the EU referendum result, UK Foreign Secretary Philip Hammond on Monday. In an interview with ITV’s Robert Peston, Mr Hammond repeated a stark warning he first voiced when he visited Gibraltar ahead of the referendum campaign.
Gibraltar is in talks with Scotland about a plan to keep parts of the UK in the EU, according to BBC Newsnight. Fabian Picardo, the territory's chief minister, told the BBC he was speaking to Scotland's First Minister, Nicola Sturgeon, about various options. One possibility under discussion is for Gibraltar and Scotland, which both voted to remain in the EU, to maintain the UK's membership of the bloc.