Investments

• Thursday, July 7th 2016 - 06:33 UTC

  Germany warns EU members about a tax-cuts race to attract Brexit business

  

  German Finance Minister Wolfgang Schaeuble has said he opposes a “race to the bottom” of competitive tax cuts. He spoke after George Osborne pledged to cut UK corporation tax in response to the Brexit vote and from Paris, in an attempt to attract UK businesses, the French government promised its taxes will be the most favorable in Europe.

• Wednesday, July 6th 2016 - 04:40 UTC

  Macri pushes in Berlin for EU-Mercosur accord, but Merkel sides with France in the agriculture issue

  

  President Mauricio Macri met on Tuesday with German Chancellor Angela Merkel in Berlin with both leaders holding a press conference to address the current state of talks regarding a trade agreement between the European Union and the Mercosur.

• Wednesday, July 6th 2016 - 04:25 UTC

  Mega agreement between Italy and Shanghai shipbuilders, and Carnival to develop China's cruise industry

  

  Fincantieri and the China State Shipbuilding Corporation (CSSC), China’s largest shipbuilding conglomerate, have signed an agreement for the development of a joint venture aimed at developing and supporting the growth of the Chinese cruise industry, according to a statement.

• Thursday, June 30th 2016 - 06:40 UTC

  Argentine economy grows 0.5% in first quarter: fishing and transport compensate fall in agriculture and construction

  

  Argentina's economy grew 0.5% in the first quarter the government said on Wednesday, adding that it saw activity leveling out this year before accelerating in 2017. The year-on-year result, published by the newly revamped Indec statistics agency, followed analysts' forecasts for a 1.3% contraction for the January through March period.

• Wednesday, June 29th 2016 - 11:04 UTC

  US economy grows faster in the first quarter helped by stronger export sales

  

  The US economy grew faster than previously estimated in the first quarter of the year, according to official figures. The Commerce Department said gross domestic product (GDP) grew at an annual pace of 1.1% in the quarter, up from an earlier estimate of 0.8%. The upwards revision was helped by stronger export sales.

• Wednesday, June 29th 2016 - 05:04 UTC

  Brazil inflation should reach Central bank target by second half of 2018

  

  Brazil's inflation will again miss the government target next year, but will be getting much closer at 4.7%, the Central Bank said on Tuesday. For this year, inflation is forecast at 6.9%, well off the 4.5% target. However, even that represents relief for Latin America's largest economy, but sickly economy where annual inflation hit 9.32% in May.

• Wednesday, June 29th 2016 - 04:57 UTC

  Investors suing Petrobras argue top executives knew of the massive bribery scheme

  

  Investors suing Petrobras to recoup billions of dollars in losses argued on Tuesday that the arrests and plea deals of top company executives prove that it knew of a massive bribery and political kickback scheme. Lawyers for the investors asked U.S. District Judge Jed Rakoff in Manhattan to rule, ahead of a trial set for Sept. 19, on claims that the company violated U.S. securities laws, according to a court filing.

• Monday, June 27th 2016 - 06:53 UTC

  Panama opens long-delayed US$ 4.5bn canal expansion: massive litigations looming

  

  Panama opened the long-delayed US$5.4 billion expansion of its shipping canal amid cheering crowds on Sunday, despite looming economic uncertainty in the shipping industry and a heated battle over billions in cost overruns.

• Saturday, June 25th 2016 - 21:29 UTC

  Picasso's seminal cubist “Femme Assise” auctioned at £ 43.2 million in London

  

  “Femme Assise” (1909), one of Pablo Picasso's earliest Cubist paintings, has sold for £43.2 million (US$63.4 million) at a Sotheby's London auction. Described by Sotheby's as “the greatest Cubist painting to come to the market in decades,” it has broken the record for the highest price for a cubist work at any auction.

• Thursday, June 23rd 2016 - 02:56 UTC

  Renewables the focus of EU Energy Week in the Falklands

  

  The Power & Electrical Department hosted an open day last week at their Sand Bay Wind Farm to showcase the work being undertaken by the Falkland Island’s Government (FIG) to utilise and promote renewable energy sources. The open day, which included guided tours and demonstrations, formed part of wider initiatives recently undertaken by FIG to address issues surrounding climate change.