Economy

• Wednesday, October 14th 2015 - 08:01 UTC

  China to the rescue of cash strapped Petrobras with $2bn for a 10-year lease of two platforms

  

  Brazil's state-run oil firm Petroleo Brasileiro SA will raise $2 billion through a 10-year leasing contract with China's Industrial and Commercial Bank of China Leasing, the Brazilian company said in a statement on Tuesday.

• Wednesday, October 14th 2015 - 05:41 UTC

  Disappointing China: September's imports slump 20% in dollars

  

  China's September imports fell a more-than-expected 17.7% in Yuan-denominated terms, while exports fell 1.1% from a year earlier, official figures show. The numbers leave the country with a trade surplus of 376.2bn Yuan ($59.4bn)

• Tuesday, October 13th 2015 - 07:48 UTC

  Economics Nobel for Scottish born Angus Deaton: understanding consumption great and small

  

  The 2015 Nobel Prize for Economics has been awarded to Scottish-born economist Professor Angus Deaton, 69, who is currently professor of economics and international affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University, in New Jersey.

• Tuesday, October 13th 2015 - 07:38 UTC

  Cash strapped London police lifts standing watch for Assange at Ecuadorian embassy

  

  London's cash-strapped police will no longer keep officers stationed outside the Ecuadorean embassy to catch WikiLeaks founder Julian Assange, who has been holed up inside for over three years, the force said.

• Tuesday, October 13th 2015 - 07:26 UTC

  The 'big three' credit rating agencies questioned by UN for their 'subjectivity'

  

  Credit ratings agencies have been questioned by the United Nations Conference on Trade and Development (UNCTAD), who says they favor countries with a certain ideological bent.

• 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.