Bloomberg Amid the worst political crisis in decades, Brazil’s federal government also faces a spiraling state debt crisis that could cost it as much as $89 billion in lost revenue. Brazilian states, hit by a two-year recession that has depressed tax revenues, are seeking to apply simple rather than compound interest on debt owed to the federal government. The ...

There is a consensus that aggression by one nation against another is a serious matter, but there is no comparable consensus about what constitutes aggression. Waging aggressive war was one charge against Nazi leaders at the 1946 Nuremberg war crimes trials, but 70 years later it is unclear that aggression, properly understood, must involve war, as commonly understood. Or that ...

  The reports of consensus over oil output freeze following talks between Saudi Arabia and Russia and signs that global glut will ease in the US, saw the crude climbing to the highest level in more than four months on Tuesday. Speculations were already rife that the two oil majors had reached an agreement, boosting expectations that a wider deal ...