Stories for August 8th 2015

Saturday, August 8th 2015 - 10:42 UTC
Petrobras profits plunge 89% in 2Q; underperforming assets dumped

Brazilian state-led oil company Petrobras said its second-quarter net income plunged 89% after a one-time charge for underperforming assets that caught analysts off guard. The 1.28-billion-real charge was taken as Petrobras' new executives and board of directors try to control the company's $132 billion debt, the oil-industry's largest, by preparing up to $15bn of assets for sale by the end of 2016.
Saturday, August 8th 2015 - 10:28 UTC
Shell planning to invest billions in Brazil, despite recent purchase of BG group

Royal Dutch Shell is considering investing billions in Brazil, set to become a focal point after the planned acquisition of BG Group, even as it prepares to sell huge chunks of its business to pay for the $70bn deal.
Saturday, August 8th 2015 - 10:14 UTC
Germany rocked by debate on freedom of the press and government influence over the courts

Journalists have been accused of treason; a chief prosecutor fired; and we have witnessed the unedifying spectacle of government ministers scrambling to get out of the firing line after popular outrage. But the scandal rocking Germany's political establishment isn't about sleaze or corruption but rather whether a little-known website can publish documents already publicly discussed.
Saturday, August 8th 2015 - 09:44 UTC
FAO pressing countries to ratify agreement on illegal, unreported, unregulated fishing

A growing number of countries are ratifying an international agreement to combat illegal fishing, fueling interest in how best to implement the instrument. Illegal, unreported and unregulated (IUU) fishing is estimated to strip between $10 billion and $23 billion from the global economy, and their impacts undermine the way fish stocks are managed to make it a double concern around the world.
Saturday, August 8th 2015 - 09:31 UTC
Chile's inflation climbs 0.4% in July to an annualized 4.6%; Peso slides 11%

Chile’s inflation rate rose to the highest this year in July as the Peso approaches its weakest level in more than a decade. Prices climbed 0.4% in the month, the National Statistics Institute said on its website Friday. Annual inflation accelerated to 4.6% from 4.4% the month before, while the central bank target is between 2% and 4%.
Saturday, August 8th 2015 - 09:20 UTC
Brazil's July inflation climbed to 9.56%, powered by electricity bills, up 57.8%

Brazil's annual inflation rate climbed to 9.56% in July, the highest level since 2003, official data showed Friday. Prices are being driven higher by the rising cost of electricity -- up 57.8% in the past 12 months -- as well as increasingly expensive housing, food and beverages, and health care.
Saturday, August 8th 2015 - 08:54 UTC
Argentine embassy in US launches website on the struggle with 'vulture funds'

The Argentine Embassy in the United States has launched a website to explain the conflict between Argentina and holdout investors commonly referred to as “vulture funds”. The website explains the origins of the conflict, its history, and provides documents and expert opinions on the subject. Its virtual library has until now over 200 documents and 100 independent sources.
Saturday, August 8th 2015 - 08:30 UTC
Argentine mandatory primaries on Sunday: 32 million entitled to vote

Electoral silence has started ahead of the PASO primary elections (Open Simultaneous, Mandatory Primaries) that will take place on Sunday when Argentines will cast their ballots to choose their candidates to compete in October’s general run, including the successor of president Cristina Fernandez.
Saturday, August 8th 2015 - 08:22 UTC
Bank of England keeps rates unchanged; little talk of rise because of China and Greece

UK interest rates have been held at 0.5% again by the Bank of England's Monetary Policy Committee (MPC). Members voted 8-1 to keep rates on hold - the first time for months the decision has not been unanimous, with Ian McCafferty voting for an increase.