Economy

• Thursday, December 7th 2017 - 08:35 UTC

  Brazil cuts rates to an all-time low, 7%, and hints at another reduction

  

  Brazil’s central bank cut interest rates to an all-time low on Wednesday and hinted at a smaller reduction early next year, although it said it would be extra cautious going forward. The bank’s nine-member monetary policy committee, known as Copom, cut the benchmark Selic rate by 50 basis points to 7.00%, capping a 725 basis-point decline since October 2016.

• Thursday, December 7th 2017 - 07:31 UTC

  Rajoy expresses support for Mrs. May efforts and progress in Brexit negotiations

  

  Spanish Prime Minister Mariano Rajoy said he expected Britain and the European Union to progress soon into the next phase of Brexit negotiations, despite Prime Minister Theresa May’s problems in getting the political backing at home to move ahead.

• Wednesday, December 6th 2017 - 16:33 UTC

  Europe makes official a blacklist of 17 non-EU it describes as tax havens

  

  The European Union has put 17 non-EU countries on a blacklist of those it deems guilty of unfairly offering tax avoidance schemes, prompting protest from Panama's president. EU vice president Valdis Dombrovskis said after a meeting of the bloc's finance ministers that beyond the 17 nations, over 40 more were put on a “grey list” to be monitored until they are fully committed to reforms.

• Wednesday, December 6th 2017 - 16:14 UTC

  Brazil services activity in November shrinks the most in nine months

  

  Brazilian services activity in November shrank the most in nine months, a private survey showed on Tuesday, highlighting the nation's uneven recovery from the deepest recession in a century. The Purchasing Managers Index (PMI) for the Brazilian services sector compiled by research firm Markit fell to 46.9 from 48.8 in October. Readings below 50 indicate contraction in activity.

• Tuesday, December 5th 2017 - 14:06 UTC

  Bitcoin and other virtual currencies on Scotland Yard radar because of money laundering

  

  The anti-money laundering regulations should be updated to include Bitcoin and other virtual currencies, the UK Treasury has said. The Metropolitan Police says criminals are using crypto-currency cash machines to launder money in London.

• Tuesday, December 5th 2017 - 14:01 UTC

  Brazil opens areas for exploration and production of oil and gas

  

  Brazil's National Agency for Oil, Natural Gas, and Biofuels (ANP) announced the areas for the exploration and production of oil and natural gas to be made available as part of a new, permanent-offer system. The move covers 846 blocks of 13 sedimentary basins, adding up to some 285,400 square kilometers.

• Monday, December 4th 2017 - 14:29 UTC

  Despite a poor November, Brazilian trade surplus is 43% higher year to year

  

  Brazil's trade balance posted a US$ 3.546 billion surplus in November, 31.8% lower than the US$ 5.201 billion in October and 25.4% down from November 2016, according to government data.

• Monday, December 4th 2017 - 08:56 UTC

  Hard Brexit puts at risk the Good Friday Agreement, Tony Blair tells BBC

  

  The Good Friday Agreement is “at risk because of Brexit” after the UK leaves the EU, former prime minister Tony Blair has told the BBC. UK and Irish membership of the EU was “central” to the 1998 deal, he told BBC Radio 4's The World This Weekend. Free movement on the border had been key to reaching an agreement, he said.

• Monday, December 4th 2017 - 07:33 UTC

  US Congress begins work on major tax reform compromise bill

  

  United States House and Senate lawmakers return to Capitol Hill on Monday to begin working on a major tax cut compromise bill -- just two days after GOP senators narrowly approved their chamber’s plan on a 51-to-49 vote. The House, which has a larger Republican majority, approved its version last month.

• Monday, December 4th 2017 - 07:27 UTC

  Tusk warns UK on post-Brexit offer: “if unacceptable for Ireland, is also unacceptable for EU”

  

  The EU will refuse Britain’s demand for talks on a post-Brexit transition and future trade pact if Ireland is not satisfied with London’s offer on border arrangements with Northern Ireland, European Council President Donald Tusk said this weekend.