Australia PM struggles to meet tax relief election pledge, central bank urges stimulus

SYDNEY (Reuters) – Australia’s re-elected coalition said on Tuesday it would struggle to deliver tax breaks for tens of millions of voters by July 1, a cornerstone of it’s election campaign, as the central bank called for stimulus to aid a slowing economy.Australian Prime Minister Scott Morrison speaks to the media as he arrives at […]

Australian deputy PM re-elected after conservative coalition holds power

SYDNEY (Reuters) – Australian Deputy Prime Minister Michael McCormack was on Thursday re-elected leader of the junior partner in the coalition government after a strong party showing in last week’s election dispelled internal discontent about his performance. McCormack was elected leader of the rural-based National Party in February 2018 but he was left struggling to […]

In coal we trust: Australian voters back PM Morrison’s faith in fossil fuel

MELBOURNE (Reuters) – Australia’s re-elected Prime Minister Scott Morrison once brandished a lump of coal in parliament, crying, “This is coal – don’t be afraid!” His surprise win in what some dubbed the ‘climate election’ may have stunned the country, but voters should know what comes next in energy policy – big coal.FILE PHOTO: A […]

Australia PM in Solomon Islands to build ties with eye on China

SYDNEY (Reuters) – Prime Minister Scott Morrison arrived in the Solomon Islands on Sunday, the first visit by an Australian leader in more than a decade as Western nations seek to rein in China’s influence in the Pacific.FILE PHOTO: Prime Minister Scott Morrison speaks to the media as he arrives at the Horizon Church in […]

Brazilian software firm Linx plans share offering in Brazil, U.S

SAO PAULO (Reuters) – Brazilian retail management software company Linx SA said it is preparing a follow on share offering in Brazil and the United States, according to a securities filing on Wednesday. Linx, Latin America’s largest software company in retail management, plans to raise money by selling new shares and a also secondary portion […]

Heineken to invest $139 million in Brazilian plants: statement

SAO PAULO (Reuters) – Heineken NV will invest 550 million reais ($139 million) to renovate four of its plants in Brazil, the company said in a statement. Heineken will renovate plants in the cities of Araraquara, Itu and Jacarei, and a microbrewery in Campos de Jordao, all in Brazil’s most populated state, Sao Paulo. The […]

Brazil GDP contraction no surprise, rebound hinges on reforms: economy minister

BRASILIA (Reuters) – Brazil’s economic contraction in the first quarter was no surprise to the government, Economy Minister Paulo Guedes said on Thursday, adding that he is confident of recovery but only if fiscal and economic reforms are implemented. “We were already anticipating a rather stagnant economy in the first quarter, but we are confident […]

Brazil’s Bolsonaro says may veto free 23-kilo bag on domestic flights

BRASILIA (Reuters) – Brazil’s President Jair Bolsonaro said on Thursday he is inclined to veto a provision in legislation recently passed by Congress ordering airlines to allow passengers to check in one piece of luggage of up to 23 kilograms (50 lb) free of charge on domestic flights. The provision was expected to push up […]

Brazil may trade surplus widens, but bigger picture not as rosy

BRASILIA (Reuters) – Brazil’s trade surplus widened in May to $6.42 billion, the Economy Ministry said on Monday, its biggest so far this year and driven by a 5.6% rise in exports from the month before. Exports totaled $21.39 billion while imports totaled $14.97 billion, with the surplus in May bringing the year-to-date surplus up […]

Brazil’s central bank chief eyes ‘micro’ policies to get credit flowing

BRASILIA (Reuters) – Brazil’s central bank will focus on an agenda of ‘micro’ measures and initiatives rather than macroeconomic policies to get credit and lending flowing, the head of the bank said on Monday. Reinforcing a stance he has taken since assuming office at the end of February, central bank chief Roberto Campos Neto told […]