Economy

Monday, August 27th 2018 - 06:58 UTC
Auto industry, beef and sugar, remain hurdles for a Mercosur/EU deal

Negotiators of a free trade deal between the European Union and Mercosur want to wrap up by September, but differences over beef, sugar and the auto industry could dash those hopes, Brazilian foreign minister Aloysio Nunes said. Issues over intellectual property, rules of origin and marine shipping services also need to be nailed down, Nunes said in an interview.
Sunday, August 26th 2018 - 18:59 UTC
A no-deal Brexit would be catastrophic; “Conservatives playing Russian roulette with the economy”

A furious reaction to the first batch of no-deal Brexit preparation papers has come in from across the UK. The documents have shown up the UK’s no-deal plans as a bluff that was “fooling no-one”, said Welsh First Minister Carwyn Jones. “The writing is on the wall,” he said.
Sunday, August 26th 2018 - 18:14 UTC
Argentina and Brazil agree to merge car production regulations

Argentine and Brazilian representatives on Friday signed a memorandum of understanding to begin merging vehicle production regulations of both countries.
Sunday, August 26th 2018 - 04:35 UTC
Argentina's Peso falls 1.42% on Friday, despite a weaker dollar following Fed's Powell speech

Argentina’s peso currency fell 1.42% to a record low close of 30.92 per dollar on Friday, weighed down by an economy slipping into recession, high inflation and uncertainty driven by corruption investigations.
Sunday, August 26th 2018 - 02:35 UTC
Macri blames the lack of infrastructure to rampant corruption under the Kirchners

Argentine president Mauricio Macri linked the poor state of the country's infrastructure to the so called “K corruption notebooks”, but also praised that truth is coming to light and in just two years Argentina's standing in the Transparency rating had gone from position 54 to 17.
Sunday, August 26th 2018 - 01:26 UTC
Central banks reviewing “phasing out cash” because of IT failures, hacking and alienation

Europe’s central bankers are warning that a gradual phase-out of cash in many countries poses a serious threat to the financial system, as relying too heavily on digital payment systems exposes them to catastrophic failures in the event of cyber attacks.
Friday, August 24th 2018 - 09:06 UTC
Latin American growth lowered to 1.5% this year, in a “complex global scenario”

Latin America's economic growth is set to come in lower than expected this year, as US protectionism and widespread wariness of emerging markets put a drag on the region, a UN panel said Thursday. The Economic Commission for Latin America and the Caribbean (ECLAC) slashed its growth forecast for the region by 0.7 point to 1.5%, saying the “complex global scenario” had dimmed the outlook since its last report in April.
Friday, August 24th 2018 - 09:02 UTC
Trump warns that any attempt to impeach him would crash the US economy

US President Donald Trump has warned that any attempt to impeach him would result in the crash of the economy. The President made the claim as the White House struggled to manage the fallout from a plea deal Mr Trump's longtime personal lawyer Michael Cohen made with prosecutors, and the conviction of his former campaign chairman Paul Manafort on financial charges.
Friday, August 24th 2018 - 08:50 UTC
Argentina’s economy contracts in June for the third month running

Argentina’s economy contracted 6.7% in June compared with the same month last year, and 1.3% compared with May, government statistics agency Indec said on Thursday. June was the third consecutive month of decline following 5.2% in May and 0.6% in April.
Friday, August 24th 2018 - 08:24 UTC
Brazilian currency sliding to record lows ahead of October's election outcome

The Brazilian currency Real fell to a 31-month low versus the U.S. dollar on Thursday on jitters ahead of the country’s October election. Jitters across emerging markets caused by a stronger U.S. dollar and exacerbated by the unfolding currency crisis in Turkey already took a toll on the Brazilian unit before this week.