Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
The next three weeks are among the rockiest, on a historical basis, of the entire calendar.Trading Nationread more
Of all the cases of economic espionage charged by the DOJ's National Security Division since 2012, more than 80% of them implicated China.World Politicsread more
In his new memoir, "The Ride of a Lifetime," Iger explains why he decided against the deal to buy Twitter.Technologyread more
Ad-tech company The Trade Desk is launching a campaign to show how it differs from tech giants like Google and Facebook.Technologyread more
The streaming wars may have claimed a new victim, and one technical analyst says it could be about to get worse.Trading Nationread more
"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.Singapore Summitread more
No quid pro quo, there was nothing," Trump said the call. "It was a perfect conversation."Politicsread more
On Sunday, the 71st Primetime Emmy Awards honored the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
The UK's Civil Aviation Authority said Thomas Cook had now ceased trading and the regulator would work with the government to bring the more than 150,000 British customers...Europe Marketsread more
Cryptocurrency fans will hope the futures contracts, which are federally regulated, can provide some much-needed legitimacy to bitcoin.Cryptocurrencyread more
BRASILIA, Aug 30 (Reuters) - Brazil's real lost almost 8% in August, making it one of the worst-performing currencies against the dollar, behind Argentina's peso, and marking its weakest month in four years.
The slide, exacerbated by market positioning, aggressive bets on lower Brazilian interest rates and a financial crisis in neighboring Argentina, took the real past 4.00 per dollar and prompted the central bank to intervene in the market.
August was a tough month for emerging assets as the U.S.-China trade spat and U.S. recession fears escalated. Figures from the Washington-based Institute of International Finance show the highest emerging market outflows since Donald Trump's U.S. presidential election win in November 2016.
According to Refinitiv data, the real is on course for a 7.7% decline against the dollar this month, its biggest monthly fall since September 2015, when it lost 8.4% of its value.
"This month was very bad for emerging markets. We had Argentina crisis, escalation of the U.S.-China trade war, and a decent deleveraging of Brazil risk," said the head of Treasury trading at a bank in Sao Paulo, who requested not to be named.
"However, September may be a risk on month for Brazil," he added.
The real started August around 3.80 per dollar, but weakened to an 11-month low of almost 4.20 this week. That took it to within touching distance of its record low around 4.25 per dollar from September, 2015, when Brazil was in the midst of one of its deepest-ever recessions.
The central bank sold dollars on the spot market for the first time in over a decade, a move many observers said was a direct response to the real's fall through 4.00/$ and its failure to rebound as the all-time low around 4.25/$ approached.
Market positioning also contributed to the slide. As August started, funds trading U.S. futures markets had already unwound their large short position in the real, Commodity Futures Trading Commission data showed, meaning they were more likely to sell again if they saw fit.
To be "short" an asset is to bet that its value will fall, and to be "long" is to bet it will rise in value.
(Reporting by Jamie McGeever; Editing by Dan Grebler)