Economy

Thursday, February 20th 2020 - 18:14 UTC
Brazilian currency again slips to a record low against the US dollar

Brazil’s real posted a record low close against the dollar for a second straight day on Wednesday, after earlier sliding to within less than one centavo of its weakest-ever level as the weight of selling pressure built up on several fronts.
Thursday, February 20th 2020 - 18:10 UTC
IMF: Argentine debt is not sustainable, a meaningful contribution from private creditors is required

An IMF team, led by Julie Kozack Deputy Director of the Western Hemisphere Department and Luis Cubeddu Mission chief for Argentina, visited Buenos Aires from February 12 to 19, 2020 to discuss the recent macroeconomic developments and learn more about the Argentine authorities’ economic plans and policies. At the conclusion of the staff visit, Ms Kozack and Mr Cubeddu issued the following statement:
Thursday, February 20th 2020 - 18:10 UTC
Oil workers on strike against Petrobras privatization plans

Brazilian oil workers and oil giant Petrobras were locked in a power struggle over the company’s privatization plans, with the union saying thousands of employees are on an indefinite strike.
Thursday, February 20th 2020 - 08:55 UTC
Coronavirus “is our most pressing uncertainty...” for the global economy, admits IMF chief

In the best-case scenario, the economic hit from the epidemic in China will be short-lived, but it comes as the global economy remains fragile, IMF chief Kristalina Georgieva said on Wednesday.
Thursday, February 20th 2020 - 08:54 UTC
World Bank aid to the neediest countries ended in offshore bank accounts, shows data from tax havens and BIS

World Bank aid payments to the neediest countries appear to trigger money flows to offshore bank accounts, suggesting funds are siphoned off from the nations they are meant to help, according to a study published on Tuesday.
Thursday, February 20th 2020 - 08:25 UTC
Beijing/US media war: three WSJ newsroom journalists expelled over an OPED column

China on Wednesday ordered three reporters from The Wall Street Journal to leave the country over what Beijing deemed a racist headline, in one of the harshest moves against foreign media in years.
Thursday, February 20th 2020 - 08:14 UTC
China back in the market for US agricultural commodities

China is back in the market for US agricultural commodities after issuing a list of products that will be eligible for tariff waivers, according to market sources. US exporters sold at least two sorghum cargoes to China after buyers bid for supplies to be shipped in the first half of the year. Importers also inquired about soybeans on Wednesday, a day after asking about wheat prices in a move that sent Chicago futures rallying.
Thursday, February 20th 2020 - 08:06 UTC
Jaguar Land Rover running out of Chinese parts for UK factories: some parts flown in suitcases

Jaguar Land Rover has flown in parts in suitcases as the effects of coronavirus take a toll on the carmaker's supply chain. It said it could start to run out of Chinese parts for its UK factories after two weeks.
Thursday, February 20th 2020 - 07:53 UTC
US considers five China state run media entities as “foreign missions” and must register with the State Department

The United States will begin treating five major Chinese state-run media entities with U.S. operations as “foreign missions” and operatives of Beijing’s government, requiring them to register their employees and U.S. properties with the State Department.
Thursday, February 20th 2020 - 07:50 UTC
Cayman Islands, Panama, Palau and Seychelles in the EU tax havens blacklist

The European Union has added the Cayman Islands, a UK overseas territory, to its tax havens blacklist. It joins Oman, Fiji and Vanuatu, which have also been accused of failing to crack down on tax abuse.