Standard & Poor has trimmed Brazil's loan rating into "junk territory' following the nation's failure to reduce its fiscal risks and the political hurdles facing the economy of Brazil. The government is hopeful to reform its fiscal strategy amid political challenges and economic slowdown.
Pope Francis complained over unbridled capitalism and the worship of money in a speech he made during his visit in Asuncion, Paraguay on July 12, one of the three countries in South America he visited over the weekend, including Bolivia and Ecuador. Accordingly, Bolivian President Evo Morales said that Pope Francis is preaching socialism, saying that the Pope is the "first and the best politician in the world".
After helping 3 million people in the Philippines and Paraguay get access to the Internet, social media giant Facebook launched the Connectivity Lab to build drones and lasers that will help more people get affordable Internet access.