Economy

Saturday, September 22nd 2018 - 08:24 UTC
Bolsonaro reprimands his chief economic advisor over new taxes controversy

The key economic adviser to Brazil's leading presidential candidate cancelled two campaign events on Friday amid a disagreement with his boss. Market-friendly Paulo Guedes, the main adviser of far-right candidate Jair Bolsonaro, canceled events at the American Chamber of Commerce and broker XP Investimentos in Sao Paulo.
Saturday, September 22nd 2018 - 07:08 UTC
Trichet: Brexit will hit harder the UK than the EU, and “it is totally contrary to the new world”

Brexit will have a bigger economic impact on the UK than the European Union, the former head of the European Central Bank has told BBC Radio 5 Live. Jean-Claude Trichet added the break-up was “totally contrary to the new world” of large emerging economies, with single currencies and single markets.
Friday, September 21st 2018 - 09:35 UTC
US life-insurance provider will only offer policies that include digital fitness tracking

One of the largest life insurance providers in North America will no longer offer policies that do not include digital fitness tracking. John Hancock will now sell only “interactive” policies that collect health data through wearable devices such as a smart-watch.
Friday, September 21st 2018 - 09:32 UTC
Argentine Peso recovers strongly and with no support from the Central bank

The Argentine Peso reacted strongly against the US dollar on Thursday following on an abundant private supply of greenbacks to satisfy demand, which kept the Central Bank out of the market for the first time since the beginning of the month. The dollar fell 2.8% and ended trading below 39 Pesos.
Friday, September 21st 2018 - 08:55 UTC
Dead end for Brexit/Salzburg discussions; October “moment of truth” for an agreement

Theresa May's proposed new economic partnership with the EU “will not work”, the head of the European Council has said. Speaking at the end for an EU summit in Salzburg where leaders of the 27 remaining member states discussed Brexit, Donald Tusk said the plans risked undermining the EU's single market.
Friday, September 21st 2018 - 08:47 UTC
Argentine Peso at an equilibrium point, says head of Central bank

Argentina’s central bank now sees the Peso at an equilibrium level, chief Luis Caputo told market participants who attended a meeting with him on Thursday. The statement comes after two days of strengthening by the peso following a rout that sent it to a record intra-day low in late August.
Friday, September 21st 2018 - 08:42 UTC
Brazil stocks lower but the Real currency recovered against the US dollar

Brazil stocks were lower after the close on Thursday, as losses in the real estate, industrial and financial sectors sectors led shares lower. At the close in Sao Paulo, the Bovespa index lost 0.01%.
Friday, September 21st 2018 - 08:35 UTC
US/Beijing trade war: China plans to reduce tariff rates on imports next October, reports Bloomberg

China plans to reduce the average tariff rate on imports from most of its trading partners as soon as October, Bloomberg News reported on Thursday. In July, China cut import tariffs on almost 1,500 consumer products ranging from cosmetics to home appliances as part of efforts to open up its economy, the world’s second biggest.
Friday, September 21st 2018 - 08:31 UTC
Argentina/IMF making “important progress” on reforms for loan package, but no specific timeline

Argentina's budget proposal submitted this week is a key element in the reforms needed for a new loan package for the crisis-hit country, an International Monetary Fund spokesman said Thursday.
Friday, September 21st 2018 - 08:24 UTC
Argentine stock market booming with new highs for seventh day running

The Argentine stock market is booming and on Thursday confirmed its seventh day running increase as investors are flocking encouraged by an imminent accord between the president Mauricio Macri administration and the IMF for a new loan package including reforms and a balanced budget in the next 18/24 months.