Economy

• Tuesday, January 16th 2018 - 09:48 UTC

  Petrobras and Total confirm completion of Strategic Alliance involving US$ 1.9bn

  

  Petrobras has completed the previously announced sale of shares in several Brazilian fields to France’s Total for US$1.95 billion it was confirmed. The deal was announced as part of the two companies’ Strategic Alliance, signed in March 2017.

• Tuesday, January 16th 2018 - 09:44 UTC

  Meirelles brushes aside impact of S&P's lower rating: 'growth will continue'

  

  Brazilian Finance Minister Henrique Meirelles said that a recent decision by Standard & Poor’s to cut the nation’s credit rating will not affect 2018 economic growth. Speaking to journalists in Rio de Janeiro, Meirelles added that he was expecting close to 2.5 million jobs to be created in Brazil this year and GDP growth of around 3%.

• Tuesday, January 16th 2018 - 09:34 UTC

  Economic activity in Brazil expands for third month running

  

  Economic activity in Brazil expanded for a third straight month in November, the longest stretch of gains since 2014, suggesting strong momentum at the end of the year. The central bank’s economic activity index rose 0.49% from October after seasonal adjustments

• Tuesday, January 16th 2018 - 09:27 UTC

  Fifteen years of success for Airbus; backlog of 7.265 aircraft at the end of 2017

  

  Airbus’ Commercial Aircraft deliveries in 2017 were up for the 15th year in a row, reaching a new company record of 718 aircraft delivered to 85 customers. Deliveries were more than 4% higher than the previous record of 688 set in 2016. The 2017 total comprises: 558 single aisle A320 Family (of which 181 were A320neo – an increase of 166% over 2016); 67 A330s; 78 A350 XWBs (up by nearly 60% from 2016) and 15 A380s. Furthermore, to cap this resounding annual production achievement, Airbus achieved 1,109 net orders from 44 customers. At the end of 2017 Airbus’ overall backlog stood at 7,265 aircraft valued at US$1.059 trillion at list prices.

• 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%.