World Bulletin / News Desk
Brazil threatened on Friday to impose taxes on speculative foreign capital, firing a warning shot in a "currency war" its finance minister blamed on money-printing by Western central banks.
Guido Mantega said Brazil would not allow its real currency to appreciate excessively and was prepared to take all steps "such as those we adopted in the past".
"If necessary, if the inflows are even stronger, we have (the option) of short-term capital taxes that could (be introduced)," Mantega told reporters on the sidelines of an Economist conference in London.
"We will adopt new measures in terms of taxing of financial operations."
Brazil shocked investors in October 2009 by imposing taxes on some categories of foreign investment flows to local stocks and fixed-income securities. Back then, it said some of the flows constituted hot money and were harming the economy.
Mantega has been one of the foremost critics of the asset buying programmes of 'quantitative easing' that Western central banks have been using to shore up their economies, accusing them of in effect devaluing their currencies to boost competitiveness.
Analysts said that while the downturn in the headline readings was disappointing, the economy continued to put in a strong performance.
Crude prices stabilised after diving more than two percent on Tuesday on increasing fears of a global supply glut, as continued production in the US and elsewhere offsets an OPEC output cut deal.
Move estimated to save company $1B in investment costs
However, most other regional markets struggled after Monday's healthy gains, despite being given a positive lead from Wall Street where the Dow and S&P 500 closed at fresh record highs.
The purchase in one fell swoop gives Amazon, which until now has operated almost entirely on the internet, a big presence in the brick-and-mortar world on Main Street, with more than 450 stores in the US, Canada and Britain.
"The Bank of Russia Board of Directors decided to cut the key rate to 9.00 percent per annum," the bank said in a statement. The cut follows a half-point decrease in late April.
Equity traders have suffered a fraught week as the crisis engulfing Donald Trump picks up pace, technology firms tumbled from recent highs and energy plays were hammered by plunging oil prices.
"In May 2017, passenger car registrations across the EU increased by 7.6 percent to 1.387 million units," ACEA said in a statement.
In the eurozone, Frankfurt's DAX 30 index climbed 0.4 percent to 12,746.05 points, and the Paris CAC 40 gained 0.5 percent to 5,243.53 compared with the close on Thursday.
Eastern Mediterranean gas deposits discussed at high-level meeting in Thessaloniki
While a "rebalancing of the market" was "underway," it was "at a slower pace than originally anticipated," the Organization of Petroleum Exporting Countries wrote in its latest monthly oil market report.