Economy

Friday, April 24th 2015 - 08:51 UTC
Petrobras normalizing links with investors on improved governance and transparency

With the release of audited financials, Brazilian oil giant Petrobras believes it has started to normalize its relationship with investors and to implement better corporate governance in the wake of the financial scandal that has rocked the company, its chief financial officer said on Thursday.
Friday, April 24th 2015 - 08:43 UTC
Good news for Brazil: economy adds jobs for the first time since November

Brazil's economy added jobs in March for the first time since November, government data showed on Thursday, suggesting the country's likely recession may not be as severe as many economists feared. Factories, farms and services companies in Brazil added a net 19,282 jobs in March, the Labor Ministry said, topping market expectations for 25,000 net firings.
Friday, April 24th 2015 - 08:25 UTC
Deutsche Bank agrees to pay 2.5bn fine for manipulating the LIBOR rate

The New York State Department of Financial Services (NYDFS) announced Thursday that Deutsche Bank had agreed to pay 2.5 billion (2.3 billion Euros) to US and UK authorities as part of a legal settlement over the bank's role in manipulating the London Interbank Offered Rate (Libor).
Friday, April 24th 2015 - 08:08 UTC
EU regulators Russia's Gazprom of abusing dominant position; fine could reach 16bn

Russia’s biggest gas utility, Gazprom, was hit with an antitrust case by European Union regulators for “abusing” its dominant position and overcharging customers for gas supplies. The investigation against the Gazprom has been ongoing for two years.
Friday, April 24th 2015 - 08:03 UTC
Nasdaq index beats its 2000 record, closing at an all time high of 5.056

The United States tech-heavy Nasdaq index has closed at a record high, surpassing a level it last reached in 2000 at the height of the dot com bubble. The index gained 20.89 points to close at 5,056.06, besting the high of 5,048.62 it hit on 10 March 2000.
Thursday, April 23rd 2015 - 08:54 UTC
Griesa rules hedge funds entitled to details of recent Argentine bond offering and banks must comply

U.S. judge on Wednesday ruled that hedge funds suing over unpaid debt stemming from Argentina's 2002 default are entitled to details of a recent bond offering by Buenos Aires.
Thursday, April 23rd 2015 - 08:45 UTC
Brasil's third biggest builder contracting drastically after Petrobras scandal and bankrupcy

Brazilian engineering conglomerate Grupo OAS expects revenue to shrink more than 50% by 2017 as it sells operations and refocuses on civil construction after filing for bankruptcy protection due to a bribery scandal at a state-run oil company.
Thursday, April 23rd 2015 - 07:09 UTC
Petrobras reveals extent of its losses because of corruption and mismanagement

Brazil's state-run oil giant Petrobras which has been bashed by a wide-spread corruption scandal, reported on Wednesday a 2014 net loss of 21.6 billion Reais (7.2 billion dollars) after taking 50.8 billion Reais in charges.
Thursday, April 23rd 2015 - 04:50 UTC
Cristina Fernandez invites Russian investors to Argentina; Thursday she meets Putin

“Argentina is a country where it is worth investing in and producing, not only because of its natural resources, also because of the human resources we have” said president Cristina Fernández in Moscow on an official visit to Russia. She praised the “recovery of Argentina's flag carrier that allows connectivity among all the zones in the country, not only the richest ones.”
Wednesday, April 22nd 2015 - 15:37 UTC
Spain to invest 421m Euros to promote and develop aquaculture

Spain's Minister of Agriculture, Food and Environment, MAGRAM, Isabel Garcia Tejerina, announced that 421 million Euros will be allocated to the Multiannual Aquaculture Strategic Plan 2014/2020. The plan outlines how aquaculture will be conducted in coming years in the framework of the new EU Common Fisheries Policy (CFP) and the European Maritime and Fisheries Fund (EMFF).