Economy

Wednesday, March 4th 2020 - 07:18 UTC
US Treasury Secretary Mnuchin strongly supported Fed's decision to cut rates

United States Treasury Secretary Steven Mnuchin told lawmakers on Tuesday that he supported the Federal Reserve’s decision to cut rates in a bid to support the economy amid the coronavirus outbreak.
Wednesday, March 4th 2020 - 06:58 UTC
Fed emergency intervention to address potential economic toll of the coronavirus outbreak

The Federal Reserve on Tuesday cut interest rates amid concern about the potential economic toll of the coronavirus outbreak. The Federal Open Market Committee (FOMC), which sets Fed interest rates, announced it would cut its baseline rate range by 0.5 percentage points to a 1 to 1.25 percent spread.
Tuesday, March 3rd 2020 - 08:37 UTC
Weaker Brazilian currency helped boost exports during February

Brazil posted a trade surplus of US$ 3.1 billion in February, official data showed on Monday, double expectations and a sign that the record low exchange rate may finally be starting to support exports.
Tuesday, March 3rd 2020 - 08:30 UTC
Argentina hires Lazard, Bank of America and HSBC for debt restructuring process

Argentina’s government said on Sunday it had hired Lazard as financial advisor and Bank of America and HSBC as debt placement agents for the debt restructuring process it hopes to close by the end of March.
Tuesday, March 3rd 2020 - 08:21 UTC
Brazil's soybeans sales to China and soy-meal exports to the EU remain very strong

Brazil, the world’s largest soy producer, and supplier, shipped 3.55 million tons of soybeans in the first three weeks of February, up 367% month on month, according to a report from the Brazilian foreign trade department.
Monday, March 2nd 2020 - 19:54 UTC
Crucial election in oil rich Guyana; economy forecasted to grow 85% this year, IMF

Guyana goes to the polls this Monday in a pivotal election in one of South America's poorest nations, where a coming oil boom is set to reshape an ethnically-divided political landscape.
Sunday, March 1st 2020 - 13:35 UTC
Falklands Illex season has assembled some 105 licensed jiggers

The Falkland Islands are expecting some 105 jiggers to take the Illex licenses, which is a “normal” number for the season while preliminary results anticipate an abundant catch. “The usual” 105 jiggers plus one trawler has accepted the Illex license offers, confirmed earlier in the week Director of Natural Resources Dr Andrea Clausen.
Sunday, March 1st 2020 - 13:19 UTC
Hyundai closes a factory in South Korea because of coronavirus

Hyundai Motor shut down a factory in South Korea on Friday after a worker tested positive for the new coronavirus, disrupting production of popular models such as Palisade sport utility vehicle.
Saturday, February 29th 2020 - 07:49 UTC
Brazil's beef industry hit by drop in Chinese demand; cattle price down 10% in January

China’s beef imports will fall in the first half of 2020 due to fallout from the coronavirus outbreak, which is complicating the circulation of people and trade globally, Rabobank said in a report released on Thursday.
Saturday, February 29th 2020 - 07:44 UTC
Merrill Lynch and JP Morgan cut Brazil's 2020 economic growth to below 2%

Bank of America Merrill Lynch cut its 2020 Brazilian economic growth outlook to under 2.0%, while JP Morgan reduced its outlook for Latin America’s largest economy even further below the threshold that many observers say is highly sensitive for President Jair Bolsonaro’s administration.