Economy

• Tuesday, October 13th 2015 - 07:13 UTC

  Pacific Alliance members outstand in Latin American performance, says IMF

  

  Brazil is still by far the largest economy in Latin America despite its recession and the impact of the devaluation of the Real, according to the latest report from the International Monetary Fund (IMF), which said Venezuela dropped to the position of the region’s seventh-largest economy with a GDP that’s now half the size of Colombia’s.

• Tuesday, October 13th 2015 - 07:00 UTC

  Brazilian recession begins to hit US companies profits and shares

  

  Agricultural giant FMC is the latest company to warn about operations in Brazil and now the stock is crashing. On Monday the $5 billion agricultural company announced that it would lay off 800-850 people — saving the company about $150 million a year by 2017 — while also cutting its profit outlook for the third quarter and all of 2015.

• Monday, October 12th 2015 - 09:32 UTC

  Standard Chartered bank plans to cut 1.000 senior jobs

  

  Standard Chartered bank, a London-based lender that makes most of its profit in Asia, could cut up to 1,000 senior jobs, according to an internal memo sent to staff. The move from chief executive Bill Winters is meant to cut costs.

• Monday, October 12th 2015 - 09:18 UTC

  Lagarde blasts US Congress for blocking reforms: “they jeopardize IMF's credibility”

  

  Washington's use of its de facto veto at the International Monetary Fund to block reforms giving emerging countries a greater say is jeopardizing the IMF's credibility, complained Managing Director Christine Lagarde.

• Monday, October 12th 2015 - 06:22 UTC

  Scioli leads presidential race in Argentina but still a puff short to avoid runoff

  

  Argentine ruling party's candidate Daniel Scioli maintains a commanding lead in the presidential race but still lacks enough voter support to win outright in the first round, an opinion poll by the Poliarquia consultancy showed on Sunday.

• Monday, October 12th 2015 - 06:16 UTC

  Petrobras corruption scandal could reach US$ 5.3bn: “we've only seen the tip of the iceberg”

  

  Damage from the gargantuan corruption scandal centered on Brazilian state oil company Petrobras could amount to as much as 20 billion Reais ($5.3 billion), a lead prosecutor revealed last week.

• Monday, October 12th 2015 - 06:14 UTC

  Levy confident congress will finally approve austerity measures to help Brazil's economy

  

  The president Dilma Rousseff administration is geared to “preparing the country to deal with a new international reality”, Brazilian Finance Minister Joaquim Levy told Reuters in an interview on Saturday.

• Monday, October 12th 2015 - 06:11 UTC

  Guyana now faced with refloated territorial claims from Suriname

  

  Less than a week after returning from the United Nations, where he raised concerns about Guyana’s border dispute with Venezuela, President David Granger was confronted with a similar issue involving Suriname.

• Saturday, October 10th 2015 - 06:27 UTC

  Global Unions call on IMF and World Bank should take recession threats seriously

  

  Given the Annual Meetings of the International Monetary Fund and World Bank taking place in Lima, Peru, the International Trade Union Conference, ITUC, and its Global Unions partners call on the international financial institutions to adopt policies that counter the global economic slowdown.

• Friday, October 9th 2015 - 07:21 UTC

  Fed close to increasing rate, according to minutes; IMF again calls on Yellen for prudence

  

  The US Federal Reserve believes the US economy was close to warranting an interest rate hike in September but policymakers decided it was prudent to wait for evidence a global economic slowdown was not knocking United States off course.