Stories for September 2nd 2015

Wednesday, September 2nd 2015 - 08:30 UTC
Despite China, for the Fed and BoE, an interest rate raise still on the table

United States inflation will likely rebound as pressure from the dollar fades, allowing the Federal Reserve to raise interest rates gradually, Fed Vice Chairman Stanley Fischer said on Saturday in a speech careful not to overreact to a possible Chinese slowdown.
Wednesday, September 2nd 2015 - 08:06 UTC
Petrobras union announces an 'open-end' strike to protest investment cuts

Brazil's largest oil workers' union advised Petrobras that it plans to begin an open-ended strike against the state-run oil company starting at midnight (0300 GMT) on Friday. The strike is in protest at a recent cut of about 40% in investments by Petrobras and the planned sale of about $15.1 billion of assets, the union, known as FUP, said in a statement on Tuesday.
Wednesday, September 2nd 2015 - 07:53 UTC
World economy heading for the perfect storm?

By Gwynne Dyer - Good things come in threes, but so do bad things. Especially in economies. The financial crisis everybody has been waiting for is a “hard landing” of the Chinese economy, the world's second-biggest. It now seems to have arrived, though the Chinese government is still denying it.
Wednesday, September 2nd 2015 - 06:43 UTC
Lula da Silva's top advisor charged for alleged involvement in Petrobras corruption

Police on Tuesday asked prosecutors to file charges against Brazil's former presidential chief of staff, Jose Dirceu, and top advisor of former president Lula da Silva, for alleged involvement in the massive corruption scheme at state-owned oil company Petrobras.
Wednesday, September 2nd 2015 - 06:39 UTC
Argentina revokes license of HSBC president for not preventing tax evasion

Argentina's Central Bank (BCRA) has revoked the license of Gabriel Martino as president of the HSBC, forcing him to step down from his post. The entity commanded by Alejandro Vanoli considered Martino responsible for failing to establish “necessary” control mechanisms to prevent clients from evading taxes and moving capital abroad.
Wednesday, September 2nd 2015 - 06:27 UTC
Petrobras increases price of LPG by 15%, the first adjustment in 13 years

Brazil's Petrobras announced late Monday that it would raise the wholesale price of liquefied petroleum gas (LPG) by 15% effective Tuesday, the first price adjustment for the essential cooking gas in 13 years. The move is part of efforts by Petrobras to reduce losses on fuel sales, a company Petrobras source said.
Wednesday, September 2nd 2015 - 06:16 UTC
Guatemala's congress strips president Otto Perez of immunity

Guatemala's Congress voted Tuesday to strip embattled President Otto Perez's immunity, clearing the way for him to be prosecuted over allegations he masterminded a multi-million-dollar corruption scheme.
Wednesday, September 2nd 2015 - 06:10 UTC
Sky Airlines begins operating in Chile as a low-cost carrier

As of next Friday, Chile's Sky Airlines becomes a budget or low cost airline with no food served on board, and at the most a soft drink. This is part of the changes to be implemented during the next 12 months by Holger Paulmann CEO and owner of the airline which was started by his father Jürgen Paulmann.
Wednesday, September 2nd 2015 - 06:01 UTC
Chinese markets open Wednesday on the slide; Canada enters recession

Asian markets continued to fall on Wednesday, with Shanghai opening down more than 4% amid continuing worries about China's growth. On Tuesday, data suggesting China's manufacturing sector was shrinking at its fastest pace in three years ignited a global market sell-off, resulting in US stocks closing down nearly 3%.
Wednesday, September 2nd 2015 - 00:00 UTC
Obama wants to speed purchase of icebreakers for the Arctic and Russian challenge

President Barack Obama on Tuesday is proposing a faster timetable for buying a new heavy icebreaker for the U.S. Arctic, where quickly melting sea ice has spurred more maritime traffic, and the United States has fallen far behind Russian resources.