Economy

Thursday, April 11th 2019 - 09:30 UTC
Brazil' finance minister optimistic about pension reform and privatizations

Brazilian Economy Minister Paulo Guedes said on Wednesday he is “optimistic” that Congress will pass a pension reform bill that will generate savings of 1 trillion reais (US$ 261.68 billion) over 10 years, in line with the government’s ambitious proposal.
Thursday, April 11th 2019 - 06:54 UTC
Petrobras to receive US$ 9.058bn following agreement with the government

The Brazilian government reached a landmark deal to pay state-controlled oil company Petrobras SA US$9.058 billion for revising a transfer-of-rights oil contract, Energy Minister Bento Albuquerque said.
Thursday, April 11th 2019 - 06:45 UTC
US/China closer to a deal: they agree to establish “enforcement officers”

The United States and China have largely agreed on a mechanism to police any trade agreement they reach, including establishing new “enforcement offices,” U.S. Treasury Secretary Steven Mnuchin said on Wednesday.
Thursday, April 11th 2019 - 06:14 UTC
Stockpiling ahead of Brexit helped spur the UK economy, says stats office

Stockpiling by manufacturers ahead of Brexit helped the UK economy grow by 0.3% in the three months to February. The national s pointed to manufacturers “changing the timing of their activities” as the UK's exit from the EU approaches.
Wednesday, April 10th 2019 - 09:58 UTC
“My trade wars aren't finished yet”, Trump warns IMF and World Bank spring meetings

 United States president Donald Trump is sending a clear message to the economic policymakers gathering in Washington for the IMF and World Bank's spring meetings: My trade wars aren't finished yet and a weakening global economy will just have to deal with it.
Wednesday, April 10th 2019 - 09:49 UTC
US-Mexico border stricter controls hitting the highly integrated US auto industry

Long delays at the U.S.-Mexico border crossing for goods destined for American plants and consumers are hitting the U.S. auto industry, and the gridlock reduced by half the number of northbound trucks that crossed the entry point last week.
Wednesday, April 10th 2019 - 09:39 UTC
Standard Chartered fined US$ 1,1bn for helping Iran and £102m to Britain's Financial Conduct Authority

Standard Chartered bank is being fined US$1.1bn for violating US sanctions against Iran and over inadequate financial crime controls The penalties, imposed in connection with a range of different investigations in the US and the UK, all date back to before 2014.
Wednesday, April 10th 2019 - 09:31 UTC
Brazil's scientists furious with budget cuts limiting research and “expelling the brightest from the country”

Brazil’s government has triggered fierce criticism from scientists after announcing plans to tackle economic stagnation by implementing a government-wide budget freeze that could see research funding cut by up to 42%.
Wednesday, April 10th 2019 - 09:27 UTC
Saudi's oil company Aramco plans to borrow US$ 12bn in its debut bond sale

Saudi Aramco is planning to borrow US$12 billion in its debut bond sale as the oil giant pulls off one of the most oversubscribed debt deals of all time. Investor orders for the dollar bonds reached an excess of US$100 billion at the peak on Tuesday, according to market experts
Wednesday, April 10th 2019 - 09:07 UTC
China pledges to further open its economy in strategic talks with the EU

China on Tuesday said it would push further to open its economy and deepen ties with the EU, which has grown increasingly wary of Beijing's influence in Europe. EU Council president Donald Tusk hailed Beijing's new commitments at an EU-China summit in Brussels as a “breakthrough” with both sides committed to globalization and pursuing international rules.