Economy

Tuesday, August 11th 2020 - 09:00 UTC
UK's oil industry close to collapse, says Premier Oil director; North Sea not profitable below US$ 60 a barrel

The UK's oil industry is in “crisis” as prices drop, a senior industry leader has told the BBC. Oil companies and service providers are cutting staff and investment to save money.
Tuesday, August 11th 2020 - 08:20 UTC
Encouraging second half first month for Brazilian car manufacturing

Brazilian car manufacturing started to recover during the first month of the second half of the year. Numbers released by the National Association of Automotive Vehicle Manufacturers (Anfavea), point out that in July, production reached 170,300 units, an increase of 73% over June, but still 36.2% lower than the same month last year. Despite the increase, it was still the worse July since 2003.
Tuesday, August 11th 2020 - 08:17 UTC
Chinese and foreign companies will be delisted from Wall Street if they don't comply with US accounting standards

US Treasury Secretary Steven Mnuchin on Monday said companies from China and other countries that do not comply with accounting standards will be delisted from US stock exchanges as of the end of 2021.
Monday, August 10th 2020 - 07:56 UTC
Falklands' Covid support paid out over a £1m; tourism expected to continue tied to the scheme

The Falkland Islands government, FIG, up to July 6, had paid out £1,016,570 for Covid support measures from the total approved funding of £8.99m. The figure, from a paper presented to the Executive Council does not include the wool clip purchase scheme, which is expected to total around £2.9m.
Monday, August 10th 2020 - 07:55 UTC
Oil prices climbing on prospects of a stimulus deal to help US economy

Oil prices climbed in early trade on Monday, clawing back over half of Friday's losses, on hopes for a stimulus deal to shore up the U.S. economic recovery and a pledge from Iraq to deepen its crude oil supply cuts.
Monday, August 10th 2020 - 06:49 UTC
Industrial activity in China is climbing to pre-virus levels

China's factory deflation eased in July, driven by a rise in global oil prices and as industrial activity climbed back towards pre-coronavirus levels, adding to signs of recovery in the world's second-largest economy.
Saturday, August 8th 2020 - 08:20 UTC
Credit rating agencies have their doubts about Argentina's economic outlook

Argentina’s US$ 65 billion debt restructuring agreement with bondholders will likely lead to credit upgrades but is far from ensuring the country’s longer-term economic future, rating agencies commented on Thursday.
Saturday, August 8th 2020 - 08:18 UTC
Brazil's leading banks giving repayment extensions to some US$ 44bn in outstanding loans

Brazil’s top four listed lenders are giving months-long extensions for consumers and companies to repay 235 billion reais (US$ 43.98 billion) in outstanding loans, a move to give financially squeezed borrowers a breathing room.
Saturday, August 8th 2020 - 08:15 UTC
July inflation in Brazil, 0,36%, only transport, fuel and housing increased

Brazilian inflation in July rose the most in four years, figures showed on Friday, driven by fuel and housing costs, although the annual measure remained significantly below the central bank’s year-end target. The IPCA index rose 0.36% in July, government statistics agency IBGE said.
Saturday, August 8th 2020 - 08:00 UTC
Falklands targets a 3% yearly population growth and doubles permanent residence permits

The Falkland Islands Executive Council has agreed to double the yearly quota of permanent residence permits (PRP) to 90. According to a paper published last week, the figure has been set to target a 3% yearly population growth.