International News

Bloomberg Rioprevidencia, the pension fund for public-sector workers from Rio de Janeiro state, is holding informal talks with holders of its $3.1 billion in bonds after a waiver for breached debt-covenants expired. Rioprevidencia, which is grappling with a 10 billion-real ($2.8 billion) budget hole this year, isn’t currently considering a full restructuring of its dollar-denominated debt and hasn’t hired any ...

lisbon / AP The construction cranes poking up from the jumble of terracotta roofs on Lisbon’s skyline can be counted on one hand — a dismal reminder for Ricardo Gomes of how little work there is for his construction company. The Portuguese Socialist government has promised to change that, advocating an end to Europe’s years of budget austerity by increasing ...

Bloomberg Pat Byrne, chairman of CityJet Ltd., purchased the carrier he once founded — less than a month after the sale of London City airport. Byrne, his management team and an unidentified consortium of private equity companies purchased CityJet, the largest airline at the airport, from Intro Aviation GmbH, the German company said in a statement, without disclosing financial details. ...

Madrid / AFP One of the world’s biggest renewable energy firms, Spain’s Abengoa, said on Monday it had been given a seven-month breathing space by its creditors for restructuring that should stave off the threat of immediate bankruptcy. The company ended 2015 with a debt of €9.4 billion, which it hopes to slim to €4.9 billion. It announced in November ...

Brussels / Reuters Three cases on the legality of bulk data collection pending at the top European Union court could spell trouble for a new transatlantic data pact that will underpin billions of dollars in digital trade. EU and U.S. officials clinched an agreement on the Privacy Shield framework on Feb. 2 after two years of difficult talks aimed at ...

Helsinki / Reuters If one fist bump could endanger Finland’s increasingly stressed tradition of consensus politics, then Prime Minister Juha Sipila and a cabinet colleague may just have achieved this dubious distinction. In a nod to popular culture, a smiling Sipila and his finance minister Alexander Stubb punched each other’s fist to celebrate a breakthrough in negotiating one of Finland’s ...

Washington / Reuters U.S. consumer spending rose marginally in February and overall inflation retreated, suggesting the Federal Reserve could take its time in raising interest rates this year despite a tightening labour market. The Commerce Department said on Monday that consumer spending edged up 0.1 percent as households cut back on goods purchases after a downwardly revised 0.1 percent gain ...

Bloomberg Brazil analysts trimmed their 2016 inflation forecast after price increases slowed more than all analysts expected in March and the economy showed signs of a deeper contraction. Economists lowered their 2016 inflation forecast to 7.31 percent, from 7.43 percent previously, according to the weekly Focus survey conducted March 24. They also pared their 2016 economic outlook to a recession ...

Toronto / Reuters Canada’s Liberal government believes the federal budget will be balanced in “about” five years due to higher growth spurred by deficit spending, Finance Minister Bill Morneau said. Speaking on CTV’s “Question Period” political news show, Morneau said the budget unveiled on March 22 will bring economic growth that the government hopes will eventually cancel out the C$17.7 ...

Bloomberg Federal Reserve Bank of San Francisco President John Williams said the global economy, particularly China and Brazil, was having a significant impact on measures that U.S. policy makers watch to determine interest rates. The world’s largest economy is doing “quite well,” Williams said on Monday in an interview on CNBC, citing stable inflation and strong employment growth. The U.S. ...