Economy

• Wednesday, June 7th 2017 - 07:18 UTC

  Brazilian meat packer Minerva buys JBS plants in Mercosur member countries

  

  The Brazilian meatpacking giant JBS says it has sold its units Mercosur members, Argentina, Paraguay and Uruguay to companies controlled by a rival meat processing company in Brazil. JBS said in a Tuesday securities filing that it sold meat processing plants in the three countries for US$300 million to Minerva in Sao Paulo state.

• Tuesday, June 6th 2017 - 08:05 UTC

  UN opens conference on the health of the world's oceans and seas

  

  Opening a “game-changing” international conference on the health of the world’s oceans and seas, top United Nations officials urged on Monday coordinated global action to protect the planet. Speaking in the UN General Assembly Hall, Secretary-General Antonio Guterres cautioned Governments that unless they overcome short-term territorial and resource interests, the state of the oceans will continue to deteriorate.

• Tuesday, June 6th 2017 - 07:33 UTC

  “Pink slime” trial: beef plant demanding US$ 5.7bn from ABC for “fake news”

  

  A trial has begun in South Dakota over a meat processer's claim that it was defamed by ABC News reporting that dubbed its product “pink slime”. Beef Products Inc (BPI) argues ABC and its journalist ruined its reputation in 2012 reports on “lean finely textured beef”, as the industry calls it.

• Tuesday, June 6th 2017 - 06:54 UTC

  British Airways says “human error” led to travel chaos for 75.000 passengers

  

  The boss of British Airways' parent company says that human error caused an IT meltdown that led to travel chaos for 75,000 passengers. Willie Walsh. chief executive of IAG, said an engineer disconnected a power supply, with the major damage caused by a surge when it was reconnected. He said there would now be an independent investigation “to learn from the experience”.

• Monday, June 5th 2017 - 22:49 UTC

  Beer sales falling worldwide; wine relatively flat and spirits up 0.3%

  

  People are drinking fewer alcoholic drinks, according to a new industry report tracking consumption worldwide. Beer sales continued to slide last year and the trend towards cider sipping stalled.

• Sunday, June 4th 2017 - 13:17 UTC

  Argentina inaugurates Tierra del Fuego offshore gas deposit which provides 8% of the country's demand

  

  Argentina formally inaugurated the Vega Pleyade gas and condensate deposit off the coast of Tierra del Fuego considered the most austral of its kind in the world, and which has been supplying the country with nine million cubic meters daily since February 2016. The well is operated by French Total (37.5%) together with Wintershall Energy (37.5%) and Panamerican South (25%), demanded an investment of 1.1bn dollars over three years.

• Sunday, June 4th 2017 - 12:51 UTC

  US unemployment down to 4.3% in May, but fewer jobs were added

  

  United States employers added fewer jobs than expected in May, but the unemployment rate dipped further as the economy headed toward full employment. The unemployment rate last month was 4.3%, falling a 10th of a percentage point to its lowest level since 2001, the US Labor Department said on Friday.

• Sunday, June 4th 2017 - 12:07 UTC

  Brazil record trade surplus and industrial production up 0.6% in April

  

  Encouraging news for Brazil's economic recovery: industrial output increased in April for the first time since December and the trade surplus rose to a record US$ 7.661bn during May, according to government data. Exports boosted by a record soy crop and rising auto sales reached US$ 19.8bn and imports US$ 12.2bn

• Saturday, June 3rd 2017 - 11:59 UTC

  Nomura Securities admits having purchased Venezuelan government bonds

  

  Japanese investment bank has admitted it was part of a controversial deal with Goldman Sachs to buy Venezuelan government bonds. Nomura Securities said it also bought about US$100m worth of the bonds last week, according to Reuters reports. Goldman Sachs has faced fierce criticism for its purchase of $2.8bn worth of similar bonds.

• Saturday, June 3rd 2017 - 07:45 UTC

  Falkland Islands Budget highlights for 2017-2018: spending within means and no borrowing

  

  The Falkland Islands government has announced highlights of its Budget for 2017/18, approved by the Legislative Assembly and which becomes effective on first July 2017 and will end on the 30th June 2018.