Economy

Tuesday, October 17th 2017 - 12:16 UTC
Federal audit freezes Rousseff and Gabrielli assets over losses in refinery purchase

Brazil's federal audit court ordered a freeze of former President Dilma Rousseff's assets as well as those of José Sérgio Gabrielli, ex-head of state-run oil company Petrobras, over a US$580 million loss in the 2006 purchase of a Texas refinery.
Tuesday, October 17th 2017 - 11:45 UTC
Airbus takes a majority stake in Bombardier frustrating Boeing's strategy

Canada's Bombardier Inc. announced on Monday it has sold a majority stake in its CSeries passenger jet business to European aerospace giant Airbus for no cost. The move comes after lackluster sales and after the U.S. Commerce Department imposed harsh duties on Bombardier, charging the Montreal-based company is selling the CSeries planes in the U.S. below cost and receiving government subsidies.
Sunday, October 15th 2017 - 03:47 UTC
St Helena opens to the world with first commercial air link to South Africa

Saturday 14 October marked an exciting new chapter in St Helena’s history when the first ever commercial flight from South Africa touched down at St Helena Airport at 1.59pm.
Saturday, October 14th 2017 - 20:42 UTC
IMF: Latin America must crack down on corruption and improve governance

Latin American and Caribbean governments need to crack down on corruption in order to make their economies more durable and the benefits of growth more widespread, the International Monetary Fund said on Friday.
Saturday, October 14th 2017 - 08:16 UTC
Japan's steel scandal of falsifying quality data has global manufacturing repercussions

Japan's Kobe Steel has increased the number of firms it says have been affected by its data fabrication scandal from 200 to 500, and has also found “inappropriate actions” relating to nine more products, including falsifying data. Earlier this week, Kobe admitted falsifying quality data on some of its products for up to a decade.
Friday, October 13th 2017 - 13:54 UTC
Argentina's September CPI 1.9% and 17.6% in nine months

Consumer prices rose 1.9% in Argentina in September, government statistics agency Indec said on Thursday, pushing the nine-month inflation reading to 17.6%, above the upper band of the central bank’s target for the year.
Friday, October 13th 2017 - 13:36 UTC
Giant meatpacker owners involved in insider trading could lose plea bargain deal with prosecutors

Brazil’s police investigation into insider trading by the owners of the world’s largest meatpacker JBS SA has found that they made a profit by taking financial positions before details of their plea bargain deal with prosecutors became public, the head of the probe said on Tuesday.
Friday, October 13th 2017 - 12:59 UTC
Meirelles optimistic about congressional approval of pensions' reform

Brazilian Finance Minister Henrique Meirelles said on Thursday “there’s a very good chance” that the country’s proposed pension reform bill will be approved by the end of the year. Addressing a question-and-answer session at an Institute for International Finance meeting in Washington Meirelles said that it would be simpler to pass the bill this year than next year because of political challenges that could come with Brazil’s upcoming presidential election in October 2018.
Friday, October 13th 2017 - 12:52 UTC
HSBC names John Flint as next CEO; JP Morgan Chase and Citigroup profits up

Banking giant HSBC has named John Flint, current head of retail banking and wealth management, as its new boss. Mr Flint, who takes over from outgoing chief executive Stuart Gulliver, will start his new role next February.
Friday, October 13th 2017 - 12:04 UTC
Recession ahead for UK economy, be it a soft or hard Brexit, forecasts leading investment bank

The Conservative Party’s plans for a “no deal” hard Brexit would plunge the UK into immediate recession, cost the British economy £400 billion and wipe 18% off GDP growth by 2030, a leading investment bank has warned.