Economy

Friday, August 21st 2015 - 06:34 UTC
Shanghai Composite's 'virus' reaches Western markets

Asian stocks saw sharp falls on Friday as mounting concerns over China's slowing economy continued to affect global markets. It follows big falls in US and European markets on Thursday, with the Dow Jones dropping more than 2%.
Thursday, August 20th 2015 - 07:07 UTC
Two lady leaders under fire, meet in Brazil hoping to recover ground

Chancellor Angela Merkel, Foreign Minister Frank-Walter Steinmeier and several other high-ranking German politicians touched down in Brazil's capital, Brasilia late Wednesday. The German delegation set off on its 12-hour flight immediately after a Bundestag vote approving a new bailout package for Greece.
Thursday, August 20th 2015 - 07:02 UTC
Victory for Rousseff: Senate passes major bill of fiscal austerity plan

Brazil's Senate approved a bill to roll back payroll tax breaks on Wednesday that is a key measure in President Dilma Rousseff's efforts to reduce a gaping fiscal deficit and restore confidence in her government's accounts. The Senate voted 45-27 to pass the bill which was received from the lower house with no changes.
Thursday, August 20th 2015 - 06:54 UTC
Volatile Shanghai Composite down again on Thursday despite Beijing's efforts

After days of volatility Chinese equities traded lower once again on Thursday, despite Beijing's efforts to calm markets. The mainland's benchmark Shanghai Composite was 1.3% down to 3,751.48 points.
Thursday, August 20th 2015 - 06:42 UTC
Brazilian major contractor admits guilt in Petrobras' massive corruption scheme

Camargo Correa Construcoes e Participacoes, one of Brazil's largest construction companies, has admitted its role in a massive scheme to overcharge state-controlled oil company Petrobras and agreed to cooperate in the investigation as part of a leniency deal, anti-trust agency Cade said Wednesday.
Thursday, August 20th 2015 - 06:38 UTC
Fed approaching interest rate hike but 'reasonable confidence' still short

An improving job market edged the US Federal Reserve closer to an interest rate hike at its July meeting even as policymakers continued to express broad concerns about lagging inflation and the weak state of the world economy, according to minutes released on Wednesday.
Thursday, August 20th 2015 - 06:32 UTC
Brazil in recession, according to the Central Bank's economic activity index

Economic activity in Brazil fell more quickly than expected in June, central bank data showed on Wednesday, adding to evidence that the once-booming economy is suffering a painful recession. The Brazilian central bank's IBC-Br economic activity index fell 0.58% in June from the prior month, the bank said in a report released on Wednesday.
Wednesday, August 19th 2015 - 06:22 UTC
China stocks continue sell-off on Wednesday after plunging 6% on Tuesday

China stocks continued their sell-off on Wednesday following a 6% plunge in the previous session. The benchmark Shanghai Composite opened down 2.7% at 3,646.75 points on Wednesday before sliding further to register a 5% loss by mid-morning. The index closed down 6.1% at 3,749.12 points on Tuesday, its biggest daily decline since July 27.
Tuesday, August 18th 2015 - 10:25 UTC
Chemical blast in Tianjin halts work at auto and farm equipment plants

Toyota and John Deere have said they will halt work at plants near China's port of Tianjin where huge explosions last week killed more than 100 people. Toyota's production lines will be closed until the end of Wednesday while John Deere suspended work indefinitely.
Tuesday, August 18th 2015 - 09:15 UTC
Markets estimate Brazil's recession will spill over to 2016, says Central bank

The Brazilian Central Bank weekly Focus Bulletin released on Monday indicates, for the first time, according to the prevailing opinion among financial institutions that the current recession of the country's economy will extend well into 2016. According to Focus the market forecasts a retraction of the Brazil's GDP of 0.15% in 2016.