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South/Central America

Argentina

Argentina Economic Inflation is as much as 35 percent annually

As the November 22 presidential election is fast approaching, the economic inflation of 35 percent a year is one of the major issues that the next president of Argentina will have to face.

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U.S.-Cuba relationship

U.S. companies swarmed Cuba, uncertain if business profits

The week long trade expo celebration in Havana, Cuba brought it some 50 American businesses, but most of these firms still have no idea how to earn money in the communist-ruled country with a population that has minimum purchasing power.

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Brazil

Brazil evicts families for 2016 Olympic Games; GOC Briefs National Federation Presidents for upcoming games

Housing advocacy groups claim that local governments in Brazil are using the Olympics to defend forced evictions and segregation in Rio de Janeiro. In addition, the Ghana Olympic Committee has held a meeting with National Federation Presidents to prepare towards the2016 Games.

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Brazilian flag

Brazil analysts expect faster Inflation, interest rate calls for 2016

Brazil analysts expect faster inflation and lesser cuts in the base interest rate for 2016, as political crisis hinders the moves to strengthen fiscal accounts and avoid another sovereign downgrade to junk.

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Brazil

Brazil's deepening recession worries bankers, fuels job cuts

The labor market in Brazil, one of the BRICS (Brazil, Russia, India, China and South Africa) nations, is fast worsening owing to intensifying recession in the domestic economy. The unemployment rate rose to 7.6 percent from the record low of 4.3 percent at the end of 2014. Many industrial estates in Brazil are running down signaling next big crisis for the economy.

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Brazil

Brazilian middle class struggles as economy drops

The commodities-fuelled boom has transformed many millions of Brazilian poor people into 'the new middle class' and the ongoing recession is again eroding their spending and earning capacity. Middle-class people in Brazil find it difficult to sustain their living standards amid intensifying economy recession and soaring inflation rate. Many owners of small shops, coffee stalls and other small vendors see their dwindling earnings by more than half during the past three years. As a result, many middle-class people are slashing their spending levels, which result in a cascading impact on other segments.

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Petrobras

Petrobras price target revised, lowered

Considering the adverse conditions being faced by the Brazilian oil and gas company, Petroleo Brasileiro Petrobras' price estimate has been revised down to $7.41 a share from $10.80.

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Puerto Rico

Split in hedge funds group over Puerto Rico's restructuring plan

At a time when creditors of crisis-hit Puerto Rico are gearing up for negotiations on restructuring the Island's debt in smaller alliances, the group of hedge funds was believed to be split off. The hedge funds group comprising over 36 firms is holding a debt of $5.2billion of ailing Puerto Rico. According to unconfirmed news, since Puerto Rico governor Alejandro Garcia Padilla said that government's debts were unsustainable, there's surfacing difference of opinion among hedge group members. In the latest development, a group of activists in the Island has started raising voice against the participation of Antonio Weiss in the restructuring plan negotiations as his connections with the Wall Street lead to a conflict of interest.

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TELEBRAS

Brazil to host its own Internet high-speed exchange point away from the U.S. - Telebras

Brazil is to detach its internet connection with U.S., Telebras CEO Jorge Bittar said. A submarine cable with over 30 tbps will be installed from Lisbon to Fortaleza. This would boost Internet speed with Europe in 2017.

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Puerto Rico

Crisis-hit Puerto Rico takes up VAT route to shore up revenues

The debt-ridden Island Puerto Rico has opted for value-added tax (VAT) as a measure to enhance revenues for the government. The new VAT structure will come into force starting1 April 2016.

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Cuba

Cuba renews drive for UN to condemn US embargo

Cuba renews its annual campaign urging the United Nations to condemn the US economic embargo. Foreign Minister Bruno Rodriguez told media the Cold War-era embargo had cost Cuba some $833.7 billion over five decades. "Seventy-seven percent of the Cuban population was born and has lived under the cruel effects of the blockade, the humanitarian impact and damage is extreme and cannot be measured (only) in numbers," he said.

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Beers

Brazilian PE firm 3G Capital eyes SAB Miller

Brazilian private equity (PE) major 3G Capital is mulling over a possible buyout of SAB Miller, maker of Miller, through its AnheuserBusch InBev, maker of Budweiser. Paving way for a major consolidation in the beer industry as the world's largest brewer AnheuserBusch InBev is bidding for SAB Miller, the second largest brewer. If the deal is successful, it'll be one of the top-6 global corporate takeovers in the history.

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Puerto Rico

Puerto Rico's rescue plan draws flak

The five-year restructuring plan proposed for ailing Caribbean island Puerto Rico has become a center of criticism from economists, who question that who shall benefit from this debt deal. Economists argue that the debt plan overstated the financial requirements of the island.

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Venezuela

Dollar-starved Venezuelan telecoms turn weaker

Venezuelan telecom sector is reeling under pressure as it lacks additional funds availability, the physical currency of dollars. The cash-strapped telecom companies are unable to strengthen their networks. The soaring inflation doesn't allow them to raise a tariff.

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Traders

S&P Downgrades Brazil's Credit Rating Straight Down to Junk Territory

Brazil's investment-grade credit falls beyond correction and into junk territory as Standard & Poor's downgraded the country's debt Wednesday. According to a report from The Guardian, Standard & Poor's said that Brazil lost its investment-grade status as it is projected with a negative outlook. This downgrade is unfortunate as the nation enters a recession.

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