Economy

Thursday, May 28th 2020 - 08:39 UTC
Chile, once the darling of foreign investors, struggling with coronavirus, inequality and poor public services

Chile's government is struggling to control a coronavirus outbreak that could revive mass social unrest as its hospital system comes under increasing pressure. With a population of 18 million, Chile is reporting new Covid-19 cases at a pace comparable to that of Spain at the peak of the virus' spread in March, on a per capita basis, and resources are close to maxed out in Latin America's wealthiest economy.
Thursday, May 28th 2020 - 08:35 UTC
Peruvian record lockdown: three months paralyzing the economy

The health system in Peru is on the brink of collapse, with public hospitals facing drastic equipment shortages amid a rising number of coronavirus cases. A University of Washington study has projected that Covid-19 deaths in Peru will reach nearly 20,000 by August, indicating that demand is likely to outstrip the supply of beds in intensive care units.
Thursday, May 28th 2020 - 08:25 UTC
EU unveils 750bn Euro recovery package, but Italy and Spain must convince their northern partners

The European Union unveiled a proposed 750-billion-euro (US$ 825bn) recovery plan Wednesday to get the continent back on its feet after the devastation wreaked by the coronavirus pandemic, as Latin America outpaced Europe and the US in the number of daily infections.
Thursday, May 28th 2020 - 08:13 UTC
Stubborn Johnson insists in keeping Cummings: 59% believe the advisor should resign

Prime Minister Boris Johnson urged Britain on Wednesday to move on from what he described as a “very, very frustrating episode” when his closest adviser provoked outrage for taking a long-distance drive during the coronavirus lockdown.
Thursday, May 28th 2020 - 08:07 UTC
American Airlines plan to reduce management and support staff by 30%

American Airlines Group Inc must reduce its management and support staff by about 30% and may have to cut frontline employees as it downsizes due to the coronavirus outbreak, showed a letter to employees made public on Wednesday.
Thursday, May 28th 2020 - 07:20 UTC
Boris Johnson will resume Brexit talks next month in Brussels

British Prime Minister Boris Johnson will resume Brexit talks in Brussels next month, the Times newspaper reported on Thursday. Britain's negotiator with the European Union, David Frost, said Johnson will meet the presidents of the European Commission and Council to formally assess the state of the talks, according to the newspaper.
Wednesday, May 27th 2020 - 08:20 UTC
Good and bad signals for Argentina: bonds rise strongly, but two rating agencies slap “default”

Argentine bonds rose strongly on Tuesday on optimism that a restructuring deal being brokered with creditors could be in reach, even as rating agencies slapped the country with downgrades after it defaulted for the ninth time last week.
Wednesday, May 27th 2020 - 08:19 UTC
LATAM Airlines files for bankruptcy in US; Brazil and Argentina subsidiaries out of the request

LATAM Airlines Group, the continent's largest carrier, filed for U.S. bankruptcy protection, Chapter 11, on Tuesday, becoming the world's largest carrier so far to seek an emergency reorganization due to the coronavirus pandemic. The filing includes Latam Peru, Chile, Ecuador, and Colombia, but leaves out Latam Brazil, Argentina and Paraguay.
Wednesday, May 27th 2020 - 08:14 UTC
New York Stock Exchange reopened its floor after a two month closure

The New York Stock Exchange, the symbolic heart of Wall Street, reopened its floor on Tuesday after a two-month closure due to the coronavirus, with traders donning masks and separated by plexiglass.
Wednesday, May 27th 2020 - 08:08 UTC
Mexican auto industry picks up with approved safety measures

Mexico's auto industry reopening picked up the pace on Tuesday, with Fiat, Chrysler, and BMW AG joining peers in gradually dusting off operations even as the wait for approvals slowed the return of Ford Motor Co and other companies.