Economy

• Wednesday, February 12th 2020 - 09:29 UTC

  Argentina delays bond maturity date from 13 Feb to 30 Sept: “the country will not be held hostage by foreign investors”

  

  Argentina said it won’t make a local bond payment on time after failing to refinance the debt, declaring it won’t be “held hostage” by foreign investors demanding their money back. The maturity date for the note will be delayed to Sept. 30 from the original Feb. 13, the Economy Ministry said in a statement.

• Wednesday, February 12th 2020 - 09:28 UTC

  Challenging week for the Fernandez administration as the IMF mission arrives in Buenos Aires

  

  A challenging week for the administration of Argentine president Alberto Fernandez and his foreign debt strategy. IMF negotiators land in Buenos Aires this Wednesday for their first mission since Fernandez took office in December. Before agreeing to any changes in the terms, negotiators will want to see Fernandez’s blueprint for tackling more than US$ 320 billion in total debt and for rescuing an economy that’s forecast to shrink for a third straight year.

• Wednesday, February 12th 2020 - 09:25 UTC

  The Danish central bank experience with record negative interest rate could be coming to an end

  

  Denmark and Switzerland have long shared the world record in negative interest rates, at minus 0.75%. But that may be about to change. Economists at some of the biggest Nordic banks say Denmark, which pegs the krone to the euro, is likely to raise its key rate in the coming months.

• Wednesday, February 12th 2020 - 09:00 UTC

  Moody's presents a positive outlook for Brazil's sovereign credit profile

  

  Capital outflows from Brazilian asset markets and the Real's slide to new all-time lows against the U.S. dollar pose little threat to Brazil's sovereign credit profile, ratings agency Moody's said on Monday.

• Tuesday, February 11th 2020 - 08:10 UTC

  Major companies pull out of world business fairs because of coronavirus risks

  

  Sony and Amazon are the latest major companies to pull out of one of the world's largest tech shows because of risks posed by coronavirus. Sony said it would no longer take part in Mobile World Congress in Barcelona after “monitoring the evolving situation” after the coronavirus outbreak.

• Tuesday, February 11th 2020 - 08:01 UTC

  Trump plans to slash foreign aid and invest funds to counter threats from China and Russia

  

  President Donald Trump will propose cutting billions of dollars in U.S. foreign aid in his fiscal 2021 budget while seeking an increase in funds to counter developing economic threats from China and Russia, senior administration officials revealed.

• Tuesday, February 11th 2020 - 07:58 UTC

  US government wants Canada and Mexico to help ship coal, avoiding west coast states ban

  

  U.S. Energy Secretary Dan Brouillette said that Canada and Mexico could help export U.S. coal to Asia to get around the blocking of shipments by West Coast states concerned about the impact of the fuel on climate change.

• Tuesday, February 11th 2020 - 07:55 UTC

  Brazilian January inflation at its lowest driven by sharp decline in meat prices

  

  Brazilian inflation kicked off the year on a soft footing, official figures showed, as the IPCA consumer price index posted its smallest January increase since the country’s “Real Plan” was launched more than a quarter of a century ago.

• Tuesday, February 11th 2020 - 07:43 UTC

  Scotland taking steps to hold a referendum on independence, First Minister Sturgeon tells Brussels

  

  Scotland is already taking steps to hold a referendum on independence and believes it is a matter of when rather than if the country separates from the rest of Britain, Scotland's First Minister said on Monday.

• Tuesday, February 11th 2020 - 07:26 UTC

  Scottish salmon farmers face “huge unnecessary burdens” under Brexit

  

  Salmon farmers face “huge unnecessary burdens” and a loss of market share under UK government plans for Brexit. The chief executive of the Scottish Salmon Producers Organisation (SSPO) said firms were being told to prepare for trade barriers with the EU. The industry is also warning that added red tape could see £9m on costs and delays to the departure of fresh fish.