Federal Budget (U.S.) Austerity


  • BRASILIA, Feb 17- Standard& Poor's downgraded Brazil's credit rating deeper into junk territory on Wednesday, citing its failure to curb its fiscal deficit, in a surprise blow to President Dilma Rousseff`s bid to haul the economy out of its worst recession in decades. S&P cut Brazil's sovereign credit rating to BB from BB+ with a negative outlook, just five months...

  • RIO DE JANEIRO, Feb 12- Brazilian President Dilma Rousseff issued a decree late on Friday cutting the federal government's discretionary spending limit for the January-to-March period by a third as her government continues to work on a comprehensive austerity plan. Rousseff has been under pressure to cut the country's budget and reduce taxes in an effort to...

  • *Saudi labor ministry issues statement on unpaid wages. DUBAI, Feb 9- Some Saudi Arabian construction companies are struggling to pay their staff on time in a sign of growing pressure on the economy from low oil prices, which are causing the government to slow spending on building projects. In an unusual move this week, the Ministry of Labour issued a public...

  • LISBON, Jan 26- Fitch Ratings warned Portugal on Tuesday some key economic forecasts in the new Socialist government's anti-austerity budget may be unrealistic and could lead to weaker growth and a cut in the country's rating. After many delays, the government presented a draft 2016 budget last week aiming to cut the deficit to 2.6 percent of gross domestic...

  • *Irish economy outperforms euro zone peers, France lags. LONDON, Jan 13- Ireland's remarkable economic recovery following a 2010 bailout may soon push its borrowing costs below those of France but its less liquid debt means it is unlikely ever to become a "core" euro zone credit. Irish growth, budget deficit and borrowing figures all look better than those of France,...

  • *Bahrain, Kuwait, Qatar and Oman all reviewing subsidies. DUBAI, Dec 30- An austere state budget released by Saudi Arabia this week is likely to mark the end of an era for the Gulf's lavish cradle-to-grave welfare systems, encouraging governments around the region to roll back costly handouts to their populations. Struggling to narrow a huge budget deficit...

  • SAO PAULO, Dec 9- Moody's Investors Service is studying Brazil's credit rating for a possible downgrade to junk status due to a deteriorating economy, widening fiscal deficit and increasing risks of political paralysis, the ratings agency said on Wednesday. Economic data last week showed Brazil's economy contracted 4.5 percent in the third quarter from a...

  • BRASILIA/ SAO PAULO, Dec 1- Brazil's economy shrank 1.7 percent in the third quarter, deepening its worst recession in 25 years and starving President Dilma Rousseff's government of taxes as she struggles with a growing fiscal deficit and a vast corruption scandal. On an annual basis, Brazil's gross domestic product dropped 4.5 percent in the third quarter, the...

  • German Chancellor Angela Merkel.

    German Chancellor Angela Merkel, who's usually seen as Europe's indispensable leader, is in danger of losing that role.

  • French army soldiers secure the area around the nuclear-powered aircraft carrier Charles de Gaulle as it leaves the naval base of Toulon, France, November 18, 2015.

    After years of working to tighten budgets, European nations are now grappling with whether to boost defense expenditures.

  • Greece police try to maintain anti-austerity protest

    Thousands of protesters in Athens were witnessed throwing petrol bombs and stones during rally.

  • Why Brazil's austerity measures are not working

    Neil Shearing, chief emerging markets economist at Capital Economics, explains why the package of spending cuts and tax increases unveiled by Brazil's government isn't helping the economy.

  • Why Syriza's election victory is good news

    Fariborz Moshirian, director of Institute for Global Finance, UNSW Business School, says the national elections on Sunday will likely lead to "political and finance stability" in Greece.

  • Monday should have been a good day for Greece with banks re-opening and receiving over 7 billion euros in financing. But turns out, they don't have much to celebrate.

  • Tsipras in trouble within Syrzia: Control Risks

    Michael Moran, Managing Director for Global Risk at Control Risks, describes the political trouble the Greek PM is currently in.

  • Alexis Tsipras, Greece's prime minister, center, reacts as he leaves following all-night bailout talks in Brussels, July 13, 2015.

    Expect serious political fallout following the third Greek bailout, says Warwick professor Haridimos Tsoukas.

  • Despite 'agreekment,' Athens is still in trouble

    John Calverley, Head, Global Thematic Research at Standard Chartered, warns of looming trouble in Greek politics.

  • Can Tsipras sell bailout deal to Greek people?

    Lindsey Piegza, Chief Economist at Stifel Fixed Income, says getting the Greek population on board with Monday's bailout plan will require "extreme political maneuvering."

  • New Greek deal is worse than last: JP Morgan

    Guillaume Chatain, Executive Director and Head of Equity Solutions at JP Morgan Private Bank, expects Athens to seek changes to Monday's bailout deal over the next couple of months.

  • This isn't the end of Greek drama: Expert

    Jason Brady, Head of Fixed Income & Managing Director at Thornburg Investment Management, doesn't expect the Greek citizens to willingly accept the new harsh measures outlined in the bailout deal.