Stories for February 7th 2018

Wednesday, February 7th 2018 - 21:55 UTC
Colombian government refuses to close its border with Venezuela

At least 8,000 Venezuelans cross the border between Colombia and Venezuela daily to the department of Arauca, southeast of Colombia. Although the migratory flow at this point does not compare with the thirty or forty thousand Venezuelans who cross the Simón Bolívar bridge between Santander and Táchira every day, in Arauca the majority of migrants arrive in conditions of extreme vulnerability.
Wednesday, February 7th 2018 - 15:23 UTC
Powell becomes chairman of the Fed in a turbulent trading day

Jerome Powell was sworn as the 16th chairman of the Federal Reserve on what turned out to be a turbulent day for Wall Street, with the Dow Jones industrial average plunging by more than 1,100 points. Powell, 65, was given the oath of office by Randal Quarles, the Fed's vice chairman for supervision, in a ceremony that took place before stock trading opened on Wall Street.
Wednesday, February 7th 2018 - 14:41 UTC
Oil Prices Ravaged By Financial Turmoil

By Nick Cunningham of Oilprice.com

Oil prices fell back suddenly over the last few trading sessions, dragged down by some forces beyond the oil market.
Wednesday, February 7th 2018 - 09:56 UTC
Brazil's second largest private bank names new CEO in a major shakeup

Banco Bradesco SA, Brazil's second-largest private-sector lender, appointed a new chief executive who told journalists that demand for credit has already improved in the first month of 2018. Octavio Lazari, 54, head of Bradesco's insurance unit, was appointed as the bank's next CEO amid a broader management shakeup with younger executives joining the board and upper management ranks to tackle increasing competition from all-digital banks.
Wednesday, February 7th 2018 - 09:35 UTC
Another Temer minister appointment on the cliff

With Brazil’s unpopular government battling to hold together a congressional coalition, President Michel Temer has been unlucky with his pick of cabinet ministers. Seven quit or were fired in his first year in office, four of them following allegations of wrongdoing. Among them, Geddel Vieira Lima, who was eventually arrested after police identified his fingerprints in an apartment filled with US$16 million in cash.
Wednesday, February 7th 2018 - 09:27 UTC
Get ready: International Scotch Day on Thursday 8 February

Plans have been unveiled for the second International Scotch Day – a worldwide celebration of all things Scotch whisky – on Thursday, 8 February this year. As part of the festivities, world-leading Scotch whisky producer Diageo will open up its Archive at Menstrie, near Alloa – a liquid library of more than 5,000 bottles and claimed as the biggest of its kind in the world.
Wednesday, February 7th 2018 - 09:17 UTC
Trump manages to unite the UK political system in praise of the healthcare system

United States president Donald Trump has sparked a backlash from UK politicians by attacking the National Health Service. In a tweet criticising US Democrats pushing for a universal health system, he said “thousands of people are marching” in the UK because the NHS is “going broke and not working”. This was believed to be a reference to a Save the NHS march on Downing Street on Saturday, demanding more funding.
Wednesday, February 7th 2018 - 09:08 UTC
German industrial labor win the right to reduced working flexible hours

Industrial workers in south-western Germany have won the right to reduced working hours as part of a deal that could benefit millions of employees across the country. Workers will be able to reduce their weekly hours from 35 to 28 for up to two years to look after their families.
Wednesday, February 7th 2018 - 08:55 UTC
EU draft proposes strict conditions for UK in the post-Brexit transition period

The European Union wants to be able to restrict the UK's access to the single market if there is a dispute after Brexit, a leaked document suggests. The power to suspend “certain benefits” would apply during the post-Brexit transition phase before the final arrangements come into force.
Wednesday, February 7th 2018 - 08:44 UTC
Algorithmic trading accelerated Black Monday markets plunge, speculate analysts

Robot trading has accelerated this week's market dive and may have sparked the sell-off, experts say. Financial firms use computers programmed with complex sets of instructions known as algorithms, which identify trading opportunities and then strike faster than any human could.