Economy

Saturday, October 3rd 2015 - 07:55 UTC
Rousseff's main coalition ally, “110 satisfied” with latest changes, but 'there's some fat left'

Brazil largest party, main ally and pillar of President Dilma Rousseff's fragile coalition said it was “110% satisfied” with the changes announced on Friday: reducing cabinet posts from 39 to 31, slashing thousands of coveted jobs for political appointees and cutting her salary and that of the vice president by 10%.
Saturday, October 3rd 2015 - 07:29 UTC
US jobs created in September sharply lower than expected; fears global slow-down is hitting America

The US economy added just 142,000 jobs in September, lowering the chance of an interest rate rise this year. The figure was far lower than the 205,000 increase forecast by economists. The number of jobs created in July and August were revised down by a combined 59,000.
Friday, October 2nd 2015 - 06:09 UTC
Zurich, Geneva and New York, most expensive cities in the world, says UBS

UBS released on Thursday the 16th edition of its UBS Prices and Earnings study, which examines prices, wages and earners' purchasing power in 71 cities worldwide. The study, published roughly every three years since 1971, compiles over 68,000 data points reflecting economic events that have shaped the world since the last edition in 2012.
Friday, October 2nd 2015 - 05:58 UTC
Mercosur and EU analyze 'level of ambition' of their trade proposals

Technical delegates from Mercosur and the European Union are holding a round of talks in Asunción to consider 'levels of ambition' for the coming exchange of tariff proposals with the purpose of reaching a much delayed free trade agreement, said Paraguayan Deputy Economic Relations minister, Rigoberto Gauto.
Thursday, October 1st 2015 - 08:51 UTC
Petrobras hikes gasoline and diesel prices to help with the company's finances

Brazil's state-controlled Petrobras unexpectedly increased wholesale gasoline and diesel prices in the domestic market, potentially widening a controversial premium to international prices. The heavily indebted company said that the gasoline price would increase by 6%, and diesel by 4%, as of this Wednesday.
Thursday, October 1st 2015 - 08:45 UTC
Slumping demand from China and Brazil put a drag on world trade, says WTO

The World Trade Organization shaved half a percentage point off its global trade projections for 2015, after a disappointing first half of the year left export growth weakened across the developing world. World merchandise trade volume is expected to rise 2.8% for the year, down from April projections of 3.3%. The WTO also revised its 2016 projections to 3.9%, from 4.0%.
Tuesday, September 29th 2015 - 07:26 UTC
Audi admits 2.1 million of its cars are fitted with emissions cheating software

Luxury car brand Audi has confirmed that 2.1 million of its cars around the world were outfitted with software that enabled them to cheat emissions standards. The announcement clarifies Audi's role in the diesel emissions scandal roiling its parent company, Volkswagen.
Tuesday, September 29th 2015 - 06:28 UTC
Former president says “no way Uruguay can escape the impact of the Brazilian crisis”

Brazilian former president Fernando Henrique Cardoso, (1995/2002) said that the serious economic situation faced by Brazil is very complex, will take time to overcome and most surely the impact will be felt in neighboring Uruguay, a country which must target other markets, other economic spaces.
Tuesday, September 29th 2015 - 05:31 UTC
A new bout of losses in Asian markets over fears of growth and lower commodities prices

Asian shares have headed sharply lower, following the rout in global equities as fears over growth and lower commodity prices grow. Japanese shares hit an eight-month low as investors awaited the Bank of Japan's Tankan quarterly business confidence survey, due on Wednesday.
Monday, September 28th 2015 - 10:57 UTC
Shell stops Arctic oil exploration following 'disappointing' results

Royal Dutch Shell has stopped Arctic oil and gas exploration off the coast of Alaska after “disappointing” results from a key well in the Chukchi Sea. In a surprise announcement, the company said it would end exploration off Alaska “for the foreseeable future”.