Stories for August 2018

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.
Thursday, August 16th 2018 - 10:40 UTC
UK inflation in July climbed to 2.5%: a blip or a trend?

UK inflation climbed in July as had been expected, according to the latest data from the Office of National Statistics, ONS, released on Wednesday. ONS reported that the rate of consumer price inflation, the most-watched measure, increased from 2.4% in June to 2.5% in July, reversing a trend of gradually declining inflation over the course of 2018.
Thursday, August 16th 2018 - 10:09 UTC
Opposition leader claims “fractures” within the Venezuela Armed Forces

An exiled opposition leader accused by Venezuelan authorities of directing a failed plot to assassinate President Nicolás Maduro says the greatest threat to the embattled socialist leader may be his detractors in uniform standing quietly behind him.
Thursday, August 16th 2018 - 09:36 UTC
US Defense secretary pledges closer ties with Argentina; condemns China's “predatory economics”

United States Defense Secretary Jim Mattis on Wednesday pledged closer defense cooperation with Argentina. Standing beside his Argentine counterpart, Oscar Aguad, Mattis said the military partnership can be strengthened and alluded to the help the U.S. Navy provided Argentina last November when one of its submarines went missing with 44 sailors aboard.