Economy

Wednesday, September 20th 2017 - 22:26 UTC
Petrobras recovers significant investment risk and trims debt burden

Petrobras raised US$2 billion from the sale of seven- and 10-year securities, replacing more expensive shorter-dated bonds as it seeks to trim a debt burden that is the largest among major oil firms. Petrobras sold US$1 billion each worth of senior unsecured bonds due in 2025 and 2028, respectively. Market experts said Petrobras sold the January 2025 bond at a yield of 5.3%, and the January 2028 bond at 6%.
Wednesday, September 20th 2017 - 22:12 UTC
US current account deficit climbing, but so is net capital inflows

US current account deficit, which is the broadest measure of US trade, rose to US$123.1bn in the second quarter - its highest level since 2008. The rising gap was driven by a US$5.2bn fall in income receipts from foreigners, particularly in government fines and penalties.
Wednesday, September 20th 2017 - 18:32 UTC
Argentina 2018 budget bill forecasts growth of 3.5% and 15.7% inflation

Argentina’s 2018 budget bill forecasts economic growth of 3.5% next year and average annual inflation of 15.7%, Treasury Minister Nicolas Dujovne told Congress. The bill proposes a 2018 primary fiscal deficit of 3.2% of gross domestic product (GDP) as previously announced.
Tuesday, September 19th 2017 - 20:21 UTC
UK interest rate increase gradual, with “appropriate withdrawal of monetary stimulus”

Any increases in UK interest rates in the coming months will be “gradual” and “limited”, the Bank of England governor Mark Carney has said, but “some withdrawal of monetary stimulus is likely to be appropriate over the coming months” to help return inflation to its 2% target.
Tuesday, September 19th 2017 - 20:06 UTC
Brazil August beef exports increase 34% year on year: 145.822 tons

Brazil’s total beef exports in August rose by 34% year-on-year both by volume and in revenue terms, industry group Abiec said on Monday, indicating the worst of a food safety scandal that rocked Brazil’s protein industry may be over.
Tuesday, September 19th 2017 - 19:57 UTC
Irish and French farmers warn about Mercosur/EU beef negotiations

News of a potential offer of a tariff rate quota for 85,000 tons of beef in the Mercosur/European Union negotiations has triggered a dismayed reaction from the ICSA’s (Irish Cattle and Sheep Farmers’ Association’s) Beef Chairman Edmond Phelan.
Tuesday, September 19th 2017 - 10:04 UTC
Tory disunity over Brexit “could hand power to Jeremy Cobyn's Labour Party”

Lord Hague has become the latest senior Conservative to intervene within the party about how the UK should manage its withdrawal from the European Union. Writing in the Daly Telegraph, the former foreign secretary warned that disunity over Brexit could hand power to Jeremy Corbyn's Labour Party.
Tuesday, September 19th 2017 - 09:48 UTC
Venezuela “free of the dollar tyranny” publishes oil and fuel prices in Chinese Yuan

Venezuela published the price of its oil and fuel in Chinese currency on Friday in what it called an effort to free the socialist-run country from the “tyranny of the dollar,” echoing a plan recently announced by President Nicolas Maduro.
Tuesday, September 19th 2017 - 09:39 UTC
Scotland and London discussing terms of devolution under Brexit

The Scottish government is to outline plans to amend the legislation taking the UK out of the European Union. The Scottish and Welsh governments call the EU withdrawal bill currently under consideration at Westminster a “power grab” of devolved responsibilities, and have worked together to draw up amendments as a direct challenge to the UK government's legislation.
Tuesday, September 19th 2017 - 09:26 UTC
Argentina rapidly recovering as a world power in beef exports

Argentina, which a century ago became a world power on the back of its beef exports, is poised to re-enter the top 10 shippers, helped by the end of trade curbs, and a herd rebuilding from near-50-year lows.