Economy

Tuesday, June 14th 2016 - 08:32 UTC
Brazil and Argentina crop problems raise demand for US supplies

Domestic supplies of corn and soybeans will be tighter than expected in the United States as problems with crops in Brazil and Argentina have raised demand for U.S. supplies from overseas buyers, the U.S. Agriculture Department. In its latest monthly supply and demand report, the government cut its new-crop and old-crop ending stocks outlooks for both corn and soybeans by more than analysts had forecast.
Tuesday, June 14th 2016 - 08:22 UTC
Petrobras pre-salt fields production climb to a new high in May: 1.1MMboe/d

Petrobras’s oil production in Brazil averaged 2.16 MMboe/d in May, its fifth highest monthly figure to date. The growth was due mainly due increases from the company’s pre-salt fields, with new wells connected to the FSPO Cidade de Maricá serving the Lula field in the Santos basin.
Monday, June 13th 2016 - 17:20 UTC
Chilean salmon industry controversy over the use of antibiotics

The use of antibiotics in the Chilean salmon industry reached 557 tons in 2015, according to the latest report of the National Fisheries and Aquaculture Service (SERNAPESCA), a figure consolidating the tendency to their intensive use over the past five years.
Monday, June 13th 2016 - 15:45 UTC
US and Brazil studies confirm the presence of the “super bacteria” in Rio beaches and lagoons

Scientists have found dangerous drug-resistant “super bacteria” off beaches in Rio de Janeiro that will host Olympic swimming events and in a lagoon where rowing and canoe athletes will compete when the Games start on August 5.
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.