Economy

• Monday, June 13th 2016 - 07:44 UTC

  Brazil's fiscal accounts “worse than ever imagined” confesses Temer

  

  Brazil's fiscal accounts were in worse shape than initially thought after the suspension of Dilma Rousseff, underscoring the challenge facing the country's new economic team, acting President Michel Temer said.

• Monday, June 13th 2016 - 07:36 UTC

  Sterling drops to a two-month low as jittery investors shift to safer assets

  

  The British pound dropped to a two-month low and the yen rallied Monday as jittery investors shifted into safer assets on worries about Britain's possible exit from the European Union. The flight to lower-yielding investments came as Asian stock markets plunged, with dealers awaiting meetings this week of the US and Japanese central banks.

• Saturday, June 11th 2016 - 07:32 UTC

  Switzerland expects influx of funds, if British voters decide to leave the European Union

  

  Swiss wealth managers said Friday they would expect an influx of funds from skittish international investors if British voters choose to leave the European Union in a June 23 referendum. Participants in a seminar organized by the Swiss Private Bankers Association (SPBA) in Geneva voiced concern about what the implications would be if a Brexit is voted through in a referendum on June 23.

• Saturday, June 11th 2016 - 05:53 UTC

  “Please don't go”, Der Spiegel's Saturday special German-English edition

  

  German Finance Minister Wolfgang Schaeuble warned Friday that if Britain voted to leave the European Union, it wouldn't have access to the single market like non-members Norway and Switzerland do.

• Friday, June 10th 2016 - 08:13 UTC

  Argentina closer to the Alliance of the Pacific; Macri expected at the summit in Chile

  

  The Alliance of the Pacific approved Argentina's request to join the group as an observer country, signaling a new turn in president Mauricio Macri's foreign policy. The announcement was made by Chile's foreign minister Heraldo Munoz following the Alliance's Ministers Council in Mexico City in anticipation of the summit scheduled for July first.

• Friday, June 10th 2016 - 08:08 UTC

  World Bank slashes global growth forecast to 2.4%, down from 2.9%

  

  The World Bank has slashed its 2016 global growth forecast to 2.4% from the 2.9% estimated in January, due to stubbornly low commodity prices, sluggish demand in advanced economies, weak trade and diminishing capital flows.

• Friday, June 10th 2016 - 08:02 UTC

  St Helena's airport opening delayed indefinitely because of wind conditions

  

  The opening of an airport on the British overseas territory of St Helena has been delayed indefinitely due to safety fears - amid warnings the cost to the UK government could increase. The £285m airport is being paid for by the Department for International Development and was due to open in May.

• Thursday, June 9th 2016 - 09:27 UTC

  Brazilians want fresh elections; 62% believe Rousseff's impeachment was the right decision

  

  The government of Interim President Michel Temer has a low approval rating among Brazilians and a majority of the country wants new elections to be held this year, according to a poll released on Wednesday.

• Thursday, June 9th 2016 - 09:16 UTC

  Argentina's energy minister, the official with largest amount of funds abroad

  

  Almost 100 million pesos (approx US$ 7.3 million) are held in offshore accounts by officials from the current Argentine administration economic Cabinet, a figure higher than the 18 million pesos President Mauricio Macri reported as having in a Bahamas account.

• Thursday, June 9th 2016 - 09:06 UTC

  Brazil's central bank leaves interest rate unchanged at 14.25%

  

  Brazil held interest rates steady for the seventh straight time on Wednesday, resisting pressure to slash borrowing costs amid a recession as inflation remains near double digits. In a unanimous vote, the central bank's monetary policy committee, Copom, decided at its last meeting led by governor Alexandre Tombini to keep its benchmark Selic rate at 14.25%, the highest in nearly a decade.