Economy

• Tuesday, April 14th 2020 - 08:40 UTC

  A Brazilian industry COVID-19 hasn't stopped: deforestation in the Amazon

  

  Deforestation in Brazil’s Amazon rainforest rose in March, government data showed on Friday, indicating that illegal loggers and land speculators have not stopped destroying the forest with the onset of the coronavirus outbreak.

• Tuesday, April 14th 2020 - 07:48 UTC

  Exxon raises US$ 9,5bn to bolster its finances; shares have lost 38%

  

  Exxon Mobil Corp on Monday raised US$ 9.5 billion in new debt, with the largest U.S. oil producer seeking to bolster its finances while debt markets remain open to new deals.

• Monday, April 13th 2020 - 12:22 UTC

  Latam Brazil CEO: “We expect demand to return to pre-crisis levels in two to three years”

  

  In a general sense, airlines around the world have already realized the short-term effects and the best way to survive the coronavirus crisis. Now, another vital question faces the industry: how demand for air travel will behave after the pandemic is under control?

• Monday, April 13th 2020 - 10:54 UTC

  Oil prices recover modestly following a historic deal by world's largest producers

  

  Oil prices jumped on Monday after swinging wildly in early trading as investors weighed whether a historic deal by the world’s biggest producers to cut output would be enough to steady a market pummeled by the coronavirus.

• Monday, April 13th 2020 - 10:30 UTC

  EU agrees massive emergency Euros 500bn fund; Germany says “nein” to mutual guaranteed coronabonds

  

  European Union finance ministers have agreed on a massive emergency package designed to ensure that member-states hit hard by the coronavirus pandemic will have the necessary resources to rebuild their economies.

• Monday, April 13th 2020 - 10:15 UTC

  Mexico has its oil protected by a sovereign hedge ensuring against low prices

  

  While Mexico and Saudi Arabia fought over a deal to bring the oil-price war to an end, Mexico has a powerful defense: a massive Wall Street hedge shielding it from low prices. The Mexican sovereign oil hedge, which ensures the country against low prices and is considered a state secret, is a factor that may make the country less inclined to accept the OPEC+ agreement.

• Monday, April 13th 2020 - 10:05 UTC

  On Easter Sunday, US death toll surpasses 22.000; May first, tentative date for relaxing stay at home restrictions

  

  Americans spent Sunday on lockdown as the US toll from the COVID-19 pandemic surpassed 20,000 deaths and more than half a million confirmed cases. With almost all the country under stay-at-home orders to curb the spread of the disease, many turned to online church services to mark the holiest day in the Christian calendar.

• Monday, April 13th 2020 - 09:39 UTC

  Food Prices declines sharply in March except rice as countries stockpile

  

  World food prices declined sharply in March, driven mostly by demand-side contractions linked to the effects of the COVID-19 pandemic and the drop in global oil prices due mostly to expectations of economic slowdown as governments roll out restrictions designed to respond to the health crisis.

• Monday, April 13th 2020 - 08:50 UTC

  EU planning measures to prevent threat of Chinese takeovers of companies shares

  

  The European Union's competition chief told the Financial Times that member countries should buy stakes in companies to counter the threat of Chinese takeovers, with her comments coming as the EU formulates plans to protect its businesses amid the coronavirus outbreak.

• Saturday, April 11th 2020 - 10:18 UTC

  YPF slashes oil production 50% as consumption slumps and depots are overflowing

  

  Argentina’s state-held energy firm YPF slashed by 50% the oil production from its key development area in the vast Vaca Muerta shale play this week due to tumbling fuel demand in Argentina’s lockdown, local news outlet Rio Negro reports.