Economy

Thursday, August 13th 2015 - 07:32 UTC
Rousseff gets an extra 15 days to explain she did not doctor public accounts

President Dilma Rousseff got an extra 15 days on Wednesday to respond to allegations that she doctored public accounts last year, delaying a decision by a court that could pave the way for the populist leader's impeachment.
Thursday, August 13th 2015 - 06:45 UTC
Griesa sanctions Argentina for not turning in information on assets

New York district judge Thomas Griesa has said he will consider all Argentine government assets in the United States, except for diplomatic and military ones, as commercial assets which hedge fund NML Capital could try to seize.
Thursday, August 13th 2015 - 06:17 UTC
For third consecutive day China weakens the Yuan against the US dollar

The People's Bank of China (PBoC) weakened the Yuan against the dollar for a third consecutive day on Thursday, following reports the central bank intervened to stem the currency's sharp slide late on Wednesday. The PBoC set the Yuan fixing at 6.4010, compared to the previous day's close of 6.3870, sending the currency 0.7% lower to 6.43 per dollar in early trade.
Thursday, August 13th 2015 - 03:37 UTC
Mercosur's Paraguay meeting to iron out proposal to present to Europe

Technical teams from Mercosur country members are scheduled to meet next Tuesday in Paraguay to iron out the final proposal to be presented by the group to the European Union for the long delayed trade and cooperation agreement. The meeting in Asunción will be headed by Rigoberto Gauto, who is currently the Mercosur coordinator since Paraguay holds this half year the rotating chair.
Wednesday, August 12th 2015 - 15:18 UTC
China's devaluation triggers fears of a new round of currency wars

China's shock 2% devaluation of the Yuan pushed the dollar higher and raised the prospect of a new round of currency wars, just as Greece reached a new deal to contain its debt crisis. Stocks fell in Asia and Europe as investors worried about the implications of a move designed to support China's slowing economy and exports.
Wednesday, August 12th 2015 - 08:06 UTC
Brazil's subsalt could hold enough petroleum to supply the world five years

Brazil's Subsalt Polygon, the offshore area that has already yielded some of the world's largest recent oil finds, may hold enough undiscovered petroleum and gas to supply the world's current oil needs for more than five years, researchers said.
Wednesday, August 12th 2015 - 07:51 UTC
Wednesday’s China shockwave: Yuan devalued 1.6%; IMF support, US Treasury cautious

Chinese shares were lower on Wednesday as its central bank again devalued the yuan, following Tuesday's record cut. The People's Bank of China fixed the daily guiding rate for the currency down 1.6% to 6.3306 against the dollar.
Wednesday, August 12th 2015 - 07:30 UTC
Moody's tough on Brazil but also confident on a mid term growth rebound

Moody’s Investors Service cut Brazil’s credit rating to near-junk status on Tuesday but said the country’s coveted investment grade status is safe for now, proving some relief to investors and the government of President Dilma Rousseff.
Tuesday, August 11th 2015 - 08:18 UTC
China devalues the currency in support of its struggling export sector

China has moved aggressively to devalue its currency in a bid to support its struggling export sector as the economy shows further signs of weakness on the way to reporting its slowest annual pace of growth in 25 years. The People's Bank of China surprised the market on Tuesday weakening the fix on its daily reference rate for the Yuan by a record 1.9%.
Tuesday, August 11th 2015 - 07:55 UTC
Argentina wins a battle in its ongoing struggle with hedge funds

Argentina on Monday won a battle in its ongoing struggle with hedge funds holding sovereign bonds. In this case Argentina managed the reversal of a U.S. judge's ruling that a group of bondholders suing over its defaulted debt said entitled them to $700 million.