Stories for July 2016

Thursday, July 14th 2016 - 07:43 UTC
Petrobras tenth FPSO vessel in the pre-salt Santos Basin begins production

Petrobras declared the commencement of production from the Cidade de Saquarema floating production, storage and offloading (FPSO) vessel at the Lula oil field on Jul 8. The offshore oil field is situated in the pre-salt Santos Basin and most importantly, the Cidade de Saquarema unit is the tenth FPSO that is working in the pre-salt region of Brazil.
Thursday, July 14th 2016 - 07:38 UTC
Temer wins strong ally with Lower House new speaker; crucial to approve unpopular economic reforms

Brazil's lower house of Congress elected an ally of interim President Michel Temer as its new speaker late on Wednesday, marking a victory for a government racing to approve unpopular economic reforms. Rodrigo Maia of the right-leaning Democrats party, known as DEM, won the second round ballot by a wide margin in a hotly contested election.
Thursday, July 14th 2016 - 07:35 UTC
Lula says a six-vote swing is needed to beat Rousseff's impeachment in August

Brazil's suspended president Dilma Rousseff could still wriggle out of a looming impeachment vote, her ally and predecessor Lula da Silva said. Speaking with Radio Jornal, Brazil's most prominent leftist leader said Rousseff's case is not hopeless, despite months of mounting pressure on her to be removed from office.
Thursday, July 14th 2016 - 07:30 UTC
A third of commercial fish stocks fished at unsustainable levels, says FAO

Global per capita fish consumption has risen to above 20 kilograms a year for the first time, thanks to stronger aquaculture supply and firm demand, record hauls for some key species and reduced wastage, according to a new FAO report.
Thursday, July 14th 2016 - 07:27 UTC
Higher forecasts for wheat output and cereal consumption in 2016/17

FAO's Cereal Supply and Demand Brief pointed to improved production prospects primarily for wheat. Global wheat production is now pegged at 732 million tons, more than one percent higher than anticipated in June, mainly due to improved prospects in the EU, the Russian Federation and the U.S., as a result of better weather conditions.
Thursday, July 14th 2016 - 07:23 UTC
Food commodity prices shot up 4.2% in June, steepest in four years says FAO

International food commodity prices shot up 4.2% in June, their steepest monthly increase of the past four years. The FAO Food Price Index averaged 163.4 points in June and is now one percent below the level reached a year earlier. The June rise, which affected all commodity categories except vegetable oils, was the fifth consecutive monthly increase.
Thursday, July 14th 2016 - 03:54 UTC
May pledges to work “for all not just the privileged few”; Johnson foreign secretary and Hammond chancellor

New Prime Minister Theresa May has made Boris Johnson, the former London mayor who led the Brexit campaign, foreign secretary in her new government. He replaces Philip Hammond, who becomes chancellor and ex-Energy Secretary Amber Rudd is home secretary and Euro skeptic David Davis is the Brexit secretary. Ex-chancellor George Osborne was not included apparently because his “brand” was seen as “too tarnished”.
Wednesday, July 13th 2016 - 07:04 UTC
Argentines hold at least 232.5bn dollars overseas, according to stats office Indec

Argentines held 232.5 billion dollars overseas in 2015, almost 10bn dollars over the previous year, according to the latest report from the country's official Indec stats office. The report, “International Investment position” is a financial balance account of Argentina with the rest of the world and records the market value of Argentine residents external assets and liabilities.
Wednesday, July 13th 2016 - 06:58 UTC
G20 trade ministers Shanghai meeting question China's industries overcapacity

In the face of a “worrying” rise in protectionism, trade ministers from the world’s major economies have agreed to cut trade costs, increase policy coordination and enhance financing, China’s Commerce Minister Gao Hucheng announced at the closing of the Group of 20, G20, meeting in Shanghai.
Wednesday, July 13th 2016 - 06:30 UTC
HSBC 2012 money laundering was so great that if charged it could have led to 'a global financial disaster'

United States officials refused to prosecute HSBC for money laundering in 2012 because of concerns within the Department of Justice that it would cause a “global financial disaster”, a report says. A US Congressional report revealed UK officials, including Chancellor George Osborne, added to pressure by warning the US it could lead to market turmoil.