Economy

Monday, March 9th 2020 - 08:55 UTC
Oil prices plunge 30% after OPEC fails to agree on production cuts; Russia clashes with Saudi Arabia

Oil prices plunged 30% in early trading after OPEC’s failure to strike a deal with its allies regarding production cuts caused Saudi Arabia to slash its prices as it reportedly gets set to ramp up production, leading to fears of an all-out price war.
Monday, March 9th 2020 - 08:54 UTC
Trump and Bolsonaro discuss Venezuela and a bilateral trade accord

United States President Donald Trump hosted Brazilian president Jair Bolsonaro for dinner at his Mar-a-Lago resort in Florida on Saturday, where the two leaders discussed the U.S.-led effort to oust Venezuelan President Nicolas Maduro and spoke about a future trade deal.
Friday, March 6th 2020 - 11:00 UTC
“If I mess up”, the US dollar could reach 5 Real, admits Brazil's minister Guedes

Brazil’s economy minister blamed the Real’s slide to an all-time low on the coronavirus outbreak and said the currency could weaken to as much as 5 per dollar if he “messes up.” Paulo Guedes said the Real is weakening largely due to the economic impact of the epidemic, rather than a change in the country’s risk perception.
Friday, March 6th 2020 - 11:00 UTC
IMF has held “productive talks” in Buenos Aires and leaves this Friday

An International Monetary Fund team currently in Argentina has held “productive” talks with local officials, a spokesman said on Thursday, though there was little detail on concrete progress about reaching a deal over the country’s debt crisis.
Friday, March 6th 2020 - 10:58 UTC
Flybe collapses and all its flights are grounded: fierce competition and coronavirus

One of Britain's biggest airlines, Flybe, collapsed on Thursday with all its flights grounded, the company said, as the coronavirus epidemic takes a heavy toll on airlines around the world.
Friday, March 6th 2020 - 08:48 UTC
Latin American currencies weakened on Thursday's; Brazil Real slides to a record low

Latin American stocks and currencies weakened on Thursday, with Brazil's real slipping to yet another record low, as the rapid spread of the coronavirus sapped risk appetite and investors worried about the scale of the economic fallout.
Thursday, March 5th 2020 - 08:59 UTC
A list of 12.000 Nazis in Argentina with accounts in Credit Suisse has surfaced, confirms Simon Wiesenthal Center

A research by Argentine investigator Pedro Filipuzzi revealed a list of 12,000 Nazis in Argentina that apparently have money in accounts at the Zurich-based Credit Suisse investment bank, the Simon Wiesenthal Center said in a statement.
Thursday, March 5th 2020 - 08:55 UTC
Representatives of Argentine sovereign bond holders meet with minister Guzman

Argentina’s minister of economy met with representatives of several major creditors, including asset management firm Pimco, a company executive and a ministry source said on Wednesday, as separate talks continued with the International Monetary Fund.
Thursday, March 5th 2020 - 08:52 UTC
IMF chief calls for an all-out response to the coronavirus epidemic serious threat

IMF chief Kristalina Georgieva on Wednesday called for an all-out, “no regrets” response to the new coronavirus epidemic which poses a “serious threat” to the global economy.
Thursday, March 5th 2020 - 08:46 UTC
Frustrating Brazilian economic growth in 2019: less than half the forecast at the start of the year

Brazil’s economy expanded by 1.1% in 2019, marking a third straight year of frustrating activity following a massive recession, according to data released on Wednesday.