Stories for August 16th 2018

Thursday, August 16th 2018 - 22:42 UTC
Brazil corn production next season could reach a first time 100m tons

Brazilian farmers are expected to plant a record amount of soybean acres this coming season, encouraged by strong demand from China, and yield a record harvest next year, consultancy Céleres said in its first forecast for the new cycle. The next crop cycle in Brazil, the world's No. 1 soybean exporter, begins in September.
Thursday, August 16th 2018 - 22:12 UTC
Mercosur reliance on China and industrial protectionism, challenges for a deal with EU

Mercosur excessive reliance on exports to China and industrial protectionism in chemicals are core stumbling blocks to reaching a free trade agreement (FTA) with the EU, a policy paper published by the 28-country bloc released on Monday.
Thursday, August 16th 2018 - 21:52 UTC
Pennsylvania releases list of 300 plus clergymen accused of sex abuse: thousands of victims in 70 years

The Pennsylvania Supreme Court has released a grand jury report detailing sex abuse in the Catholic Church, naming over 300 accused clergymen. The landmark grand jury investigation found more than 1,000 children had been abused by members of six dioceses in the state for the last 70 years.
Thursday, August 16th 2018 - 21:15 UTC
Brazilian food giant JBS hit by a surge in feed costs and trade conflicts

Brazilian food company JBS SA would need to raise product prices by another 7% at its processed foods division Seara to offset a surge in feed costs, executives said on Wednesday. Seara raised prices by 3% in the second quarter, the executives said on a conference calls with analysts to discuss second-quarter results.
Thursday, August 16th 2018 - 15:58 UTC
US/Mexico joint team in Chicago to target leaders and finances of drug dealers

United States and Mexican law enforcement authorities will set up a joint team based in Chicago targeting the leaders and finances of drug cartels that ship opioids into the United States, aiming to stanch a spike in overdose deaths, officials said on Wednesday.
Thursday, August 16th 2018 - 15:43 UTC
Brazilian economy contracts 0.99% in second quarter because of truckers strike

Brazil's economy contracted nearly one percent in the second quarter due to a truckers' strike, the country's Central Bank said on Wednesday. The nine-day strike that ended in late May caused fuel shortages, cut into food deliveries and backed up exports.
Thursday, August 16th 2018 - 14:48 UTC
US condemns Turkey's doubling of tariffs on US imports: “a step in the wrong direction”

The White House on Wednesday condemned Turkey’s doubling of tariffs on U.S. cars, alcohol and tobacco imports, calling the action “a step in the wrong direction.” Turkey took the action in response to what it called the Trump's administration's attack on its economy. The United States doubled tariffs on Turkish steel and aluminum last week, which contributed to a tumble in the Turkish lira.
Thursday, August 16th 2018 - 14:38 UTC
Corona beer owner investing US$ 4 billion in the cannabis industry

Corona beer owner Constellation Brands is set to pour some US$ 4 billion into Canada's top cannabis producer, Canopy Growth, in a deal marking the largest investment in the industry to-date. Last year, Constellation injected US$ 200m into Canopy in a deal to produce a non-alcoholic cannabis-based beverage. The alcohol firm wants to capitalize on the growing legalization of the drug.
Thursday, August 16th 2018 - 14:23 UTC
New Zealand limits investing in housing for non residents to ease strong market for locals

New Zealand's parliament has banned many foreigners from buying existing homes in the country - a move aimed at making properties more affordable. The ban only applies to non-residents. Australians and Singaporeans are exempt because of free-trade deals.
Thursday, August 16th 2018 - 10:56 UTC
A defiant Workers Party registers Lula da Silva as presidential candidate

The Workers' Party registered jailed former president Luiz Inacio Lula da Silva as its candidate for president on Wednesday, attempting to muscle him into the race to lead Latin America's largest nation and forcing a showdown with Brazilian electoral authorities.