Economy

Tuesday, October 6th 2015 - 09:56 UTC
OECD has proposals to cut corporate tax minimization; but much skepticism

Companies should pay tax in the countries where they conduct business under new proposals intended to cut corporate tax minimization. An OECD/G20 report found laws allowing companies to shift profits to low-tax jurisdictions means that between $100bn and $240bn is lost annually. That equates to between 4% and 10% of global corporate tax revenues.
Tuesday, October 6th 2015 - 08:20 UTC
Ushuaia expects this cruise season 336 vessel calls and over 100.000 visitors

Tierra del Fuego Tourism Institute (Infuetur), in extreme south Argentina, is expecting 25% more cruise visitors this 2015/16 season, most probably breaking the 100.000 milestone, with 336 calls involving 47 cruise vessels. The estimate is 112.170 passengers by April 2016, of which 79.486 non Antarctic and 36.684 Antarctic visitors.
Tuesday, October 6th 2015 - 08:11 UTC
Brazil's GDP expected to contract 2.85% this year, says central bank survey

Economists again cut their outlook for Brazil's economic performance for this year, as consumer and business confidence continue at historic low levels. Brazil's GDP is expected to contract 2.85% this year, according to a weekly central-bank survey of 100 economists, compared with expectations last week for a contraction of 2.80%.
Tuesday, October 6th 2015 - 07:54 UTC
UK announces retail sale of £2 billion worth of shares in Lloyds Banking Group

The British government said on Monday it plans to sell at least £2 billion ($3.04 billion) worth of shares in Lloyds Banking Group PLC to the general public at a discount next spring as part of a broader move to cash out its stake in the bailed-out lender.
Tuesday, October 6th 2015 - 07:40 UTC
Latin America forecasted to contract 0.3% this year and 0.7% growth in 2016

The United Nations Economic Commission for Latin America and the Caribbean, ECLAC, forecasted a downward trend in the region’s economic activity for 2015 to -0.3% from 0.5%, and estimates that for 2016 growth will be close to 0.7%.
Tuesday, October 6th 2015 - 07:28 UTC
Victory for Argentina in its ongoing battle with speculative funds

The 2nd US Circuit Court of Appeals in New York refused on Monday to force Bank of New York Mellon Corp to turn over to holders of defaulted Argentine bonds any of the $539 million the country deposited in 2014 to pay creditors who participated in its past restructurings.
Tuesday, October 6th 2015 - 07:19 UTC
Argentina cancels $5.9bn Boden 2015 bond and issues new debt for $500m

Argentina's central bank on Monday afternoon confirmed the 5.9 billion dollar payment Argentina was due to make ended successfully, adding “the level of reserves is enough for the execution of our exchange policy.”
Monday, October 5th 2015 - 23:20 UTC
Agricultural expansion main factor of Brazil's deforestation and it's expanding

Agricultural expansion is the chief contributing factor to the deforestation of Brazilian ecosystems and has accelerated in recent years, according to an official study released last week.
Saturday, October 3rd 2015 - 08:47 UTC
Argentina will pay $5.9bn mature Boden 15 bonds on Monday, and issue new debt

Argentina on Monday will pay the $5.9 billion maturity due for its Boden 15 bonds in cash and issue new debt the following day, Economy Minister Axel Kicillof said on Friday. Argentina which is in technical default on some debt because of a legal fight with bondholders in the United States, targets raising $500 million in the auction of notes under Argentine law, Kicillof told a news conference.
Saturday, October 3rd 2015 - 08:11 UTC
Rousseff reshuffles cabinet and gives more power to key ally PMDB and Temer

Brazilian President Dilma Rousseff on Friday announced a Cabinet reshuffle that reduces the number of posts from 39 to 31 and gives a more significant role to the Brazilian Democratic Movement Party, or PMDB, the country's biggest and a key ally of her Workers' Party.