Economy

• Wednesday, September 2nd 2015 - 06:01 UTC

  Chinese markets open Wednesday on the slide; Canada enters recession

  

  Asian markets continued to fall on Wednesday, with Shanghai opening down more than 4% amid continuing worries about China's growth. On Tuesday, data suggesting China's manufacturing sector was shrinking at its fastest pace in three years ignited a global market sell-off, resulting in US stocks closing down nearly 3%.

• Tuesday, September 1st 2015 - 07:08 UTC

  Brazil Central bank survey says economy will shrink 2.26% this year and 0.40% next year

  

  Analysts expect Brazil's economy to contract by 2.26% this year, reflecting greater pessimism in the wake of the release of figures last week showing that the country is in a recession, the Central Bank said Monday.

• Tuesday, September 1st 2015 - 06:59 UTC

  US Appeals Court backs Argentina: sovereign immunity for Central bank funds

  

  A US appeals court supported Argentina's appeal Monday against an earlier ruling that could have permitted a group of creditors to seize assets of Argentina's central bank.

• Tuesday, September 1st 2015 - 06:48 UTC

  Moody's cuts 2016 global economic forecast; no commodities rebound in near future

  

  Credit rating firm Moody’s cut its 2016 global economic growth forecasts, with China and United States both trimmed and Russia and Brazil seen staying in recession.

• Tuesday, September 1st 2015 - 06:36 UTC

  Brazil presents 2016 budget and Real drops to a 12-year low against the dollar

  

  Brazil's government presented a 2016 budget Monday that for the first time projects the world's seventh largest economy operating in the red, sparking worries that the country's investment grade rating will be put at risk.

• Tuesday, September 1st 2015 - 06:12 UTC

  China's factory activity contracts at its fastest in three years in August

  

  China's factory activity contracted at its fastest pace in three years in August, confirming fears that the country's growth is continuing to slow. The official manufacturing purchasing managers' index (PMI) dropped to 49.7 from 50 in July.

• Monday, August 31st 2015 - 07:22 UTC

  Lacking congressional support Rousseff discards reinstating financial transactions tax

  

  President Dilma Rousseff has dropped the idea of reinstating a tax on financial transactions to bridge a gaping fiscal deficit in Brazil after it ran into a barrage of criticism even from within her coalition, Brazilian media reported on Sunday.

• Sunday, August 30th 2015 - 13:58 UTC

  Brazil in recession: worst slowdown in nearly three decades

  

  Brazil's economy shrank 1.9% in the second quarter, sinking into a recession that has hammered President Dilma Rousseff's popularity. The quarterly contraction, reported by government statistics agency IBGE on Friday, was bigger than what markets expected and confirms the worst slowdown for Brazil in nearly three decades.

• Sunday, August 30th 2015 - 13:44 UTC

  Brazil wants to revive financial transaction tax to increase revenue

  

  The Brazilian government is considering reviving a financial transaction tax known as CPMF in a bid to shore up its finances in 2016, but the initiative apparently does not have sufficient support in Congress and President Dilma Rousseff's main coalition ally, PMDB, is not willing to make the presentation.

• Friday, August 28th 2015 - 07:22 UTC

  Brazil/EU summit next year following exchange of proposals with Mercosur

  

  Brazil and the European Union agreed to hold their annual summit during the first half of 2016, following the exchange of proposals for a wide ranging and cooperation trade agreement between the EU and Mercosur.