Economy

• Wednesday, May 13th 2020 - 07:55 UTC

  Modest optimism Argentina and bondholders can strike a deal by 22 May

  

  Argentine bonds jumped on Tuesday as the country’s government and creditors sought to strike a deal to restructure US$ 65 billion in foreign debt by May 22 after an initial deadline passed last week without a pact.

• Wednesday, May 13th 2020 - 07:49 UTC

  Parana River embankment collapse hampers Argentina's grains exports

  

  Ships transporting cargo from Argentina's Rosario grain hub through the Parana River are having to reduce their cargoes after a bank collapse obstructed the navigation channel, exporters have revealed.

• Wednesday, May 13th 2020 - 07:37 UTC

  Fed says US households will need more fiscal support and forecasts 20% unemployment

  

  United States businesses and households are going to need more fiscal support to get through what will likely be a longer period of recovery from the coronavirus shutdown than initially expected, Federal Reserve policymakers said on Tuesday.

• Wednesday, May 13th 2020 - 07:15 UTC

  US budget deficit in April reaches a record US$ 738 billion: revenue down 55% and outlays up 161%

  

  The United States on Tuesday reported a record US$738 billion budget deficit in April, as an explosion in government spending and a shrinking of revenues amid the novel coronavirus pandemic put it deep into the red.

• Tuesday, May 12th 2020 - 09:00 UTC

  Argentina extends debt negotiations deadline to “increase participation” and “better alternatives”

  

  Argentina will extend negotiations over a US$ 65bn debt restructuring proposal until May 22, the government said in the official gazette on Monday. The extension sets the stage for tense last-ditch talks as Argentina races to avoid default.

• Tuesday, May 12th 2020 - 08:50 UTC

  Bolsonaro declares gyms and salons as essential services

  

  Brazilian President Jair Bolsonaro on Monday declared gyms and hair salons as essential services that can stay open through the new coronavirus outbreak, easing measures to control the disease despite new cases and deaths surging in the country.

• Tuesday, May 12th 2020 - 08:18 UTC

  Beijing disappointed with Australia: suspends meat imports from four abattoirs

  

  China has suspended meat imports from four Australian abattoirs, fuelling concerns that escalating tensions between the two nations are damaging Australia's most important trading relationship.

• Tuesday, May 12th 2020 - 07:49 UTC

  Trump opposes renegotiating US-China Phase 1 trade deal despite Beijing concerns

  

  US President Donald Trump said on Monday he opposed renegotiating the US-China “Phase 1” trade deal after a Chinese state-run newspaper reported some government advisers in Beijing were urging fresh talks and possibly invalidating the agreement.

• Tuesday, May 12th 2020 - 07:46 UTC

  Saudi Arabia to cut oil production to a decade record low of 7,5 million bpd

  

  Saudi Arabia said on Monday it had asked oil giant Aramco to cut an additional one million barrels per day from June, to support prices that have crashed during the coronavirus crisis.

• Monday, May 11th 2020 - 08:40 UTC

  Argentina expected to make official the extension of debt offer deadline

  

  Argentina is preparing to extend the deadline to its debt offer to May 22. The government will publish an extension to its debt offer in the official Gazette this Monday, part of President Alberto Fernandez’s next steps in its debt restructuring after extending a deadline over the weekend for creditors to accept an initial offer to exchange $65 billion in overseas bonds.