Economy

• Wednesday, September 19th 2018 - 08:41 UTC

  Card issuers have to pay US$ 6.2bn to settle class action lawsuit by US retailers

  

  Visa Inc, Mastercard Inc, and a number of U.S. banks on Tuesday agreed to pay US$ 6.2 billion to settle a long-running lawsuit brought by merchants over the fees they pay when they accept card payments.

• Wednesday, September 19th 2018 - 08:28 UTC

  Brazilian economy recovering at snail pace: 1.19% in seven months of 2018

  

  Brazil's economy grew 0.57% in July from June, Brazil's Central Bank said citing the Economic Activity Index (IBC-Br). The data shows a second consecutive month of GDP growth in South America's largest economy.

• Wednesday, September 19th 2018 - 08:18 UTC

  Brazilian Bovespa market index up 1.75%; Real suffers a slight depreciation

  

  Brazil's benchmark Bovespa index rose 1.75% on Tuesday, rallying for a second straight day largely on a spike in commodities prices. Two of the Bovespa's most heavily weighted equities, miner Vale and oil giant Petrobras benefited from rising commodity prices worldwide amid escalating China-U.S. trade tensions and signals OPEC is not prepared to raise output to address shrinking supplies from Iran.

• Wednesday, September 19th 2018 - 08:11 UTC

  China agreed to invest US$ 5bn in Venezuelan oil, alleges Maduro

  

  Venezuelan President Nicolas Maduro said on Tuesday that new investments from China will help his country dramatically boost its oil production, doubling down on financing from the Asian nation to turn around its crashing economy.

• Tuesday, September 18th 2018 - 08:58 UTC

  Trump escalates the trade war with China imposing 10% tariffs on US$ 200bn imports

  

  United States president Donald Trump escalated his trade war with Beijing, imposing 10% tariffs on about US$ 200 billion worth of imports in a move one senior Chinese regulator said “poisoned” the atmosphere for negotiations.

• Tuesday, September 18th 2018 - 08:51 UTC

  IMF's Lagarde: A no-deal Brexit would entail substantial costs for the UK economy

  

  The International Monetary Fund has warned that a “no-deal” Brexit on World Trade Organization terms would entail “substantial costs” for the UK economy. IMF said that all likely Brexit scenarios would “entail costs”, but a disorderly departure could lead to “a significantly worse outcome”.

• Tuesday, September 18th 2018 - 08:38 UTC

  Growing demand for a second referendum on Brexit, but time is running out

  

  Calls for a second referendum on Brexit are mounting as Britain approaches the last six months before leaving the EU - but the sands of time could be running out for diehard Remainers. London Mayor Sadiq Khan became the latest big name to call for a vote, joining former prime ministers Tony Blair and John Major and celebrities like football star Gary Lineker.

• Tuesday, September 18th 2018 - 06:56 UTC

  Argentine Peso recovers on an IMF support message and budget presentation to Congress

  

  Argentina's battered Peso currency inched higher and the risk of its bonds defaulting declined after the government unveiled its budget plan and the IMF said “important progress” had been made on revamping the country's standby loan agreement.

• Monday, September 17th 2018 - 08:12 UTC

  International support for Argentina's general strike against IMF austerity measures

  

  The International Trade Union Conference, ITUC’s affiliates in Argentina, CGT, CTA-A and CTA-T have announced a general strike for 24-25 September in opposition to expected sweeping austerity measures being developed by the government and the International Monetary Fund.

• Monday, September 17th 2018 - 08:07 UTC

  Falklands at UK key party conferences, six months ahead of Brexit

  

  Falkland Islands Members of the Legislative Assembly Mark Pollard and Stacy Bragger are travelling to the UK to attend Labor and Conservative Party Conferences. This is a special year for British politics given the ongoing Brexit debate, and countdown to UK leaving the European Union on 29 March 2019.