International News

  Bloomberg Brazilian prosecutors filed a 155 billion reais ($44 billion) civil suit against Vale SA, BHP Billiton Ltd. and their iron-ore venture over a November dam rupture that killed as many as 19 people and caused severe environmental damage. The prosecuting task force is demanding the two companies and Samarco Mineracao SA provide initial payment of 7.8 billion reais ...

  Bloomberg The best rally for corn prices in 10 months meant U.S. farmers were frantic to sell from the mountain of grain they’d been hoarding. Growers have been stockpiling supplies following a string of bumper harvests, waiting patiently for a rebound in prices. Their hopes have finally been answered after dry weather threatened crops in Brazil, sending futures traded ...

Bloomberg Located just 30 miles east of Rio de Janeiro’s bustling Copacabana beach, Itaborai looks like many oil boomtowns after the bust — except the deserted stores and empty glass towers that loom over this town of 220,000 speak of some bigger cataclysm than the collapse of crude prices. “They said this would be the new oil city,” says Jefferson ...

  Canberra / AFP Australia’s government on Tuesday unveiled an election-focused budget to shore up economic growth amid a rocky transition from dependence on mining, doling out tax cuts for individuals and businesses. The annual announcement came as the central bank slashed interest rates to a new record low of 1.75 percent, following recent unexpectedly weak consumer prices, in order ...

  Bandar Seri Begawan / The Diplomat On April 20, the Bank of China Hong Kong Limited (BOCHK) was granted regulatory approval by Brunei’s Monetary Authority to open a branch in the sultanate, making it the first Chinese financial institution to do so. While China’s penetration into Brunei’s economy is not new, the move will be read as a sign ...

  New Delhi / Bloomberg India has rejected Apple Inc.’s request to import and sell refurbished iPhones to the world’s second largest mobile population, dealing a blow to its plans to court price-conscious consumers there. The US company’s application has been turned down, a telecommunications ministry official told reporters in New Delhi on Tuesday, declining to be identified because of ...

  Hong Kong / AFP China and Japan’s economies are expected to slow sharply over the next two years but Asian growth will remain strong as domestic demand takes up the slack from weak global trade, the IMF said on Tuesday. Government stimulus measures, lower commodity prices and low unemployment will help drive regional expansion, the International Monetary Fund said, ...

  Sydney / AFP A Chinese-led consortium has withdrawn its $281.5 million bid for Australia’s vast Kidman cattle empire after the government indicated the deal was not in the national interest, the seller said on Tuesday. Australia’s biggest private landholder S. Kidman and Co. had selected the bid by Chinese-owned Dakang Australia Holdings and ASX-listed Australian Rural Capital (ARC) as ...

  Bloomberg The European Commission told the euro area’s largest economies to reduce debt and modernize labor markets as it again slashed its inflation forecast and warned of slower-than-predicted growth across the 19-nation bloc. France, Spain and Italy, which have persistently failed to hit European Union budget targets, are still off track, the Brussels-based commission said. Gross domestic product in ...

  Bloomberg The euro advanced, headed for its longest winning streak against the dollar since 2013, amid signs the Federal Reserve will delay raising interest rates. Europe’s shared currency breached $1.16 for the first time since August as signs emerged that the regional economy may be improving. A report on Monday showed manufacturing expanded at a faster pace than initially ...