Economy

Monday, January 15th 2018 - 10:33 UTC
Brazil forecasts 110m tons of soybeans and 25m tons of corn in 2017/18 harvest

Brazilian official crop agency Conab has raised its crop estimates for soybeans and corn in 2017-18, as improved weather boosts yields and planted areas are revised higher.
Conab said in a monthly report that the current soybean crop, which was already planted and is under development, will reach 110.44 million tons, up from 109.18 million tons in December but still below the record of 114.08 million tons in 2016-17.
Monday, January 15th 2018 - 04:00 UTC
French dairy recalls 12 million boxes of baby milk from 83 countries: salmonella

More than twelve million boxes of French baby milk products are being recalled from 83 countries for suspected salmonella contamination. The recall includes Lactalis' Picot, Milumel and Taranis brands.
Saturday, January 13th 2018 - 09:28 UTC
PwC banned from auditing in India following country's major corporate scandal

PwC's Indian unit has been banned from auditing listed companies for two years, over one of the country's biggest corporate scandals. Price Waterhouse was auditor for Satyam computers when company owner Ramalinga Raju admitted to inflating earnings.
Friday, January 12th 2018 - 10:58 UTC
S&P downgrades Brazil's credit rating; delay of pension system reform takes the blame

Ratings agency Standard & Poor’s cut Brazil’s credit rating further below investment grade on Thursday as doubts grew about a presidential election in October and a push to trim its costly pension system, seen as vital to closing a huge fiscal deficit. S&P lowered its long-term rating for Brazil sovereign debt to BB- from BB previously, with a stable outlook, citing less timely and effective policymaking. S&P also cited a risk of greater policy uncertainty after this year’s elections.
Friday, January 12th 2018 - 10:50 UTC
Argentina inflation reached 24.8% in 2017, well above central bank's target

Consumer prices in Argentina rose 24.8% in 2017 after a sharp 3.1% increase in December, government data showed on Thursday, well above the central bank's target range for annual inflation of 12-17%t. The monthly reading, which was above median expectations in December of 2.5%.
Friday, January 12th 2018 - 10:26 UTC
Brazilian inflation ends 2017 at 2.95%, below the bottom of central bank target

The annual inflation rate in Brazil increased to 2.95% in December, from 2.50% in November, rising above economists' projections of 2.80%, but ending the year below the bottom of the central bank's target for 2017, which ranged from 3% to 6%.
Friday, January 12th 2018 - 07:39 UTC
Falklands: Rockhopper satisfied with advance of Sea Lion project

Rockhopper Exploration said the Sea Lion phase 1 project in the North Falkland Basin was moving towards sanction at the end of 2018. London-listed Rockhopper said project partners had been focusing on securing the US$1.5billion of capex required to achieve first oil.
Friday, January 12th 2018 - 07:18 UTC
Falklands concern with vast fishing fleet gathering on high seas

A vast fleet of fishing vessels assembling to catch Illex squid on the high seas, some 400 miles north of the Falkland Islands, is an issue of concern to the Falkland Islands Fisheries Department.
Thursday, January 11th 2018 - 09:48 UTC
Canada accuses US of breaking international trade rules; files complaint with WTO

Canada has filed an expansive complaint with the World Trade Organization accusing the US of breaking international trade rules. The complaint challenges the ways that the US investigates products for subsidies and below-cost sales. As expected the US called the claims “unfounded”.
Wednesday, January 10th 2018 - 09:57 UTC
Great recession almost over, “but no time for complacency”, warns World Bank

The World Bank forecasts global economic growth to edge up to 3.1% in 2018 after a much stronger-than-expected 2017, as the recovery in investment, manufacturing, and trade continues, and as commodity-exporting developing economies benefit from firming commodity prices.