Economy

Tuesday, January 29th 2019 - 08:43 UTC
Brazilian government considering management overhaul at miner Vale SA

Brazil’s government weighed pushing for a management overhaul at miner Vale SA on Monday as grief over hundreds feared killed by a dam burst turned into anger, with prosecutors, politicians and victims’ families calling for punishment. By Monday, firefighters in the state of Minas Gerais had confirmed 65 people killed by Friday’s disaster, in which a burst tailings dam sent a torrent of sludge into the miner’s offices and the town of Brumadinho.
Tuesday, January 29th 2019 - 08:36 UTC
Vale's market value plunges US$ 16,4bn on Monday, following on the dam burst

Brazilian miner Vale SA’s shares plunged on Monday, wiping out nearly 62 billion reais (US$ 16.4 billion) in market value, after a tailing dam collapse on Friday killed at least 65 people and left 292 missing with slim hopes for recovery. Vale shares were down 21.5% in Sao Paulo morning trading, at 44.70 reais. The company suspended dividend payments late on Sunday.
Tuesday, January 29th 2019 - 08:30 UTC
Investors confident of Brazil: Net FDI flows equaled 4.7% of GDP in 2018

Brazil’s current account deficit doubled last year as economic growth fueled demand for foreign goods and services, while foreign investment reached its highest share of GDP since 2001, the central bank said on Monday.
Monday, January 28th 2019 - 09:09 UTC
Ecuador planning IMF support to balance the budget and implement reforms

Ecuador may use financing from the International Monetary Fund (IMF) to balance its budget, as the South American country seeks to reduce a swollen fiscal deficit and its international debt, the finance minister admitted on Friday.
Saturday, January 26th 2019 - 09:57 UTC
Argentina/UK resume joint South Atlantic fisheries scientific assessment cruises

Next February first and after fourteen years Argentina and the United Kingdom will again be involved in a scientific assessment cruise of the Illex squid in the South Atlantic.
Saturday, January 26th 2019 - 08:23 UTC
Trump yields and agrees to lift 35-day government shutdown...until 15 February

President Donald Trump agreed under mounting pressure on Friday to end a 35-day-old partial U.S. government shutdown without getting the US$5.7 billion he had demanded from Congress for a border wall, handing a political victory to Democrats.
Saturday, January 26th 2019 - 08:08 UTC
Hammond suggests a Brexit compromise with EU leaders which could influence a vote in London

British finance minister Philip Hammond said on Friday he believed the EU might compromise over a Brexit deal in a way that would persuade lawmakers in London to support it.
Friday, January 25th 2019 - 10:10 UTC
Argentine twelve-month economic activity to November contracts 7.5%

Economic activity in Argentina slumped 7.5% in November, the INDEC statistic bureau reported on Thursday. The comparative drop in activity from November 2017 and November last year was the most significant since June 2009's eight per cent slump.
Friday, January 25th 2019 - 09:42 UTC
US economy showing best employment numbers in almost half a century

The number of United States citizens filing applications for unemployment benefits fell to more than a 49-year low last week, but the drop likely overstates the health of the labour market as claims for several states including California were estimated.
Friday, January 25th 2019 - 09:35 UTC
US and China “miles and miles away” in resolving economic structural reforms

The United States and China are “miles and miles” from resolving trade issues but there is a fair chance the two countries will get a deal, U.S. Commerce Secretary Wilbur Ross said on Thursday.