Economy

• 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.

• Friday, June 2nd 2017 - 08:15 UTC

  Relief for Temer: Brazilian economy grew 1% in first quarter of the year

  

  Brazil's economy grew by one percent in the first quarter of 2017, ending eight consecutive quarters of shrinkage in the country's worst recession in history, the state statistics office said Thursday. While not definitively ending the recession, the spike in growth offers another glimmer of light for Latin America's biggest economy -- and could throw a lifeline to President Michel Temer as he tries to fend off a huge corruption scandal.

• Thursday, June 1st 2017 - 07:09 UTC

  JBS meatpackers agree to pay record fine of US$ 3.2bn for corruption practices

  

  J&F Investimentos, controlling shareholder of the world's largest meatpacker JBS SA,, agreed to pay a record-setting 10.3 billion real (US$3.2 billion) fine for its role in corruption scandals that threaten to topple President Michel Temer. The settlement meant Brazil's sweeping graft investigations have now led to the world's two biggest leniency fines ever levied, Brazilian prosecutors said.

• Wednesday, May 31st 2017 - 22:06 UTC

  Brazil cuts Selic rate to 10.25%, lowest since December 2013: slowing inflation and gradual recovery

  

  The Central Bank of Brazil unanimously cut its key Selic rate by 100 basis points to 10.25 percent on Wednesday May 31st of 2017, as widely anticipated. It is the sixth straight rate decline, bringing borrowing costs to the lowest since December of 2013 amid slowing inflation and a gradual recovery.

• Wednesday, May 31st 2017 - 07:24 UTC

  Sterling drops on fears Tories could fail to win an outright majority

  

  The value of the pound dropped after a projection suggested the Conservatives could fail to win an outright majority in the election on 8 June. Previous opinion polls suggested Prime Minister Theresa May's party would increase its majority, which is currently 17 seats.