Economy

• Thursday, August 6th 2020 - 09:19 UTC

  Brazil's central bank cuts Selic lending rate to a record low of 2%

  

  Brazil's central bank cut its key Selic lending rate to a record low on Wednesday and left the door open for more cuts, as the outlook for inflation remains below target amid the impact of the coronavirus pandemic on the economy.

• Wednesday, August 5th 2020 - 08:56 UTC

  Argentina reaches an agreement with majority of creditors and looks to convince the undecided

  

  Argentina has reached an agreement with creditors to restructure around US$ 65 billion in sovereign debt, breaking a deadlock in talks that will help the country climb out of default and banish fears of a damaging and protracted legal standoff.

• Wednesday, August 5th 2020 - 08:55 UTC

  Argentina deal with bondholders was at 54,8 cents to the dollar; next step IMF negotiations

  

  Argentina is battling to escape from a messy ninth sovereign default as it firefights recession, stubborn inflation, and increasingly wary investors. The country announced on Tuesday it had reached an agreement with creditors to restructure around US$ 65 billion in foreign debt, breaking a deadlock over recent weeks and setting the stage for a formal deal later this month.

• Wednesday, August 5th 2020 - 08:50 UTC

  Leading Brazilian private bank admits difficulties with loan default

  

  Itaú Unibanco Holding SA’s Chief Executive Candido Bracher said on Tuesday that next year he sees Brazil’s 90-day default ratio reaching higher levels than in a previous crisis.

• Wednesday, August 5th 2020 - 08:07 UTC

  For the fifth week running Brazil central bank survey reveals increased optimism on the economy

  

  The gloom surrounding Brazil’s economy lifted for a fifth week in a row, a central bank survey of economists showed on Monday, with the average forecast for 2020 gross domestic product now showing a decline of 5.7%.

• Tuesday, August 4th 2020 - 10:40 UTC

  Argentine media and markets agree an agreement has been reached with bondholders

  

  Argentina and most of its top creditors are moving closer to an agreement to restructure US$ 65 billion of bonds, according to government sources in the Buenos Aires media. Likewise, the prospects of an agreement triggered a bonds rally, and the Merval stock index gained 6,6% the most in a month.

• Tuesday, August 4th 2020 - 09:46 UTC

  South Georgia issues Macaroni Penguin gold coins

  

  After the recent release of South Georgia and South Sandwich Islands Penguin Series, The Pobjoy Mint is announcing a limited-edition Proof Fine 1/25oz Gold coin featuring the macaroni penguin to complement this immensely popular series.

• Tuesday, August 4th 2020 - 08:45 UTC

  Boris's launches Eat Out to Help Out program with diners at 50% discount

  

  People across Britain enjoyed half-price meals on Monday as the government launched its Eat Out to Help Out scheme aimed at driving up business in the shattered hospitality industry after months of coronavirus lockdown.

• Monday, August 3rd 2020 - 10:58 UTC

  LATAM to lay off another 2,700 crew after failing an agreement with the union

  

  Latin America's biggest airline, the Brazilian-Chilean group LATAM, said it was laying off at least 2,700 crew to cope with the devastating effects of the coronavirus pandemic on the aviation industry.

• Saturday, August 1st 2020 - 06:11 UTC

  Ecuador extends deadline for negotiations with bondholders

  

  Ecuador will extend the deadline for creditors to vote on its US$ 17.4 billion debt restructuring plan to Monday following a lawsuit by a small group of bondholders, the finance ministry said on Thursday.