Investments

Thursday, May 14th 2020 - 08:50 UTC
Premier Oil suspends Falklands' Sea Lion project; Navitas remains interested in farm out project

UK-based oil and gas operator Premier Oil has said it has suspended the Sea Lion-1 oil project offshore the Falkland Islands. The company said the US$1.8 billion offshore oil project would be suspended to minimize ongoing spend in light of the current market conditions.
Thursday, May 14th 2020 - 07:36 UTC
Brazil's Gol Airlines recovers US$ 412 million compensation from Boeing

Brazil airline Gol Linhas Aereas Inteligentes said on Wednesday it will receive a total of 2.4 billion reais (US$412.03 million) from Boeing Co as compensation for the grounding of the 737 MAX plane, which has not flown in over a year.
Tuesday, May 12th 2020 - 09:00 UTC
Argentina extends debt negotiations deadline to “increase participation” and “better alternatives”

Argentina will extend negotiations over a US$ 65bn debt restructuring proposal until May 22, the government said in the official gazette on Monday. The extension sets the stage for tense last-ditch talks as Argentina races to avoid default.
Tuesday, May 12th 2020 - 08:40 UTC
Colombia's national airline, Avianca, has filed for bankruptcy protection in a US court.

Avianca is the second-largest carrier in Latin America, but its passenger operations have been grounded since March because of coronavirus. It said the pandemic had cut more than 80% of its income, and it was struggling with high fixed costs.
Saturday, May 9th 2020 - 08:48 UTC
In April Mexico and Brazil produced 5,569 cars instead of half a million

Auto production in Mexico and Brazil, Latin America's top producers, plunged by an unprecedented 99% in April as a result of the coronavirus crisis, with the two countries building a total of just 5,569 vehicles.
Friday, May 8th 2020 - 08:30 UTC
Prince Andrew in trouble over purchase of a US$ 22,5 million chalet in Switzerland

Legal proceedings have been launched in Switzerland against Britain's Prince Andrew and his ex-wife Sarah, a newspaper reported on Thursday, over money they still owe on a luxury chalet.
Thursday, May 7th 2020 - 12:58 UTC
Chilean economy contracts 3.5% in March over a year ago

Chile’s economic activity dropped 3.5% in March from a year earlier, the central bank said. The bank’s IMACEC economic activity index declined 5.7% compared with the previous month, as the country went into an economic and social shutdown after the arrival in Chile of the new coronavirus.
Thursday, May 7th 2020 - 07:50 UTC
Trump shifts primary focus to reviving US business and social life; Democrats criticize “undermining science”

President Donald Trump said on Wednesday his coronavirus task force would shift its primary focus to reviving US business and social life while acknowledging that reopening the economy could put more lives at risk.
Wednesday, May 6th 2020 - 07:00 UTC
British new car sales slumped to its lowest level since February 1946

British new car sales slumped by an annual 97% in April to the lowest level of any month since February 1946 as factories and dealerships shut due to the coronavirus outbreak.
Tuesday, May 5th 2020 - 07:00 UTC
Surprise: Brazil's retailer industry finds a consolidated e-commerce sector as it gradually reopens

Brazil's battered retailers are starting to reopen after weeks of coronavirus lockdown but may exit the crisis transformed, with the e-commerce sector strengthened and brick-and-mortar chains facing an uphill path to normality.