Headlines

President Dilma Rousseff of Brazil announced Friday that she was cutting her salary by 10 percent, reducing the size of her cabinet and slashing thousands of coveted jobs for political appointees in an effort to build support for broader austerity measures as she grapples with calls for her ouster, the International New York Times reported. The moves by the beleaguered leader, which reduce the number of cabinet ministries to 31 from 39 and extend the pay cut to the vice president, Michel Temer, and all of her ministers, reflect how Ms.

An increasing number of smaller economies are likely to lower their corporation tax rates as a result of the ongoing global reform of multinational taxation, according to two senior Irish tax experts, the Irish Times reported. The development is just one of a number that Irish policymakers will have to watch closely as the OECD’s Base-erosion and profit-shifting (Beps) process begins to move from its planning to its implementation stage, according to Deloitte’s vice-chairman, Padraig Cronin, and its head of tax, Lorraine Griffin.

British regulators said on Friday that they may soon set a deadline for consumers to seek compensation for the improper selling of a contentious insurance product that has cost the banking industry billions of dollars in refunds, the International New York Times DealBook blog reported.

Emerging markets will suffer a net outflow of capital this year for the first time since the 1980s as their economic fortunes darken and the US Federal Reserve prepares to lift interest rates, the Financial Times reported. The projection will heighten concerns about the prospects for leading emerging economies including China and Brazil that are set to weigh on central bankers and finance ministers when they convene for annual meetings of the International Monetary Fund and World Bank in Lima next week.

Irish consumers still feel “somewhat remote” from reports of a strong domestic recovery, according to the latest KBC Bank Ireland/ESRI consumer sentiment survey, the Irish Times reported. The survey’s headline index fell marginally to 100.6 in September from 101.1 the previous month. This probably reflects the difficulty the average consumer has in making sense of seemingly contradictory recent signals both in relation to economic prospects generally and their own financial circumstances, the report’s authors said.

China’s main task is to restructure its economy rather than worrying about the recent slump in stock prices, a German finance ministry official said Thursday, calling on the Asian giant to focus on strengthening domestic demand, The Wall Street Journal reported. “The recent discussions about stock-market turbulences are rather a side issue,” said the official during a briefing on next week’s meeting of the International Monetary Fund and Group of 20 nations in Lima, Peru.

Just a few weeks ago, voters appeared ready to punish Prime Minister Pedro Passos Coelho for spending cuts and tax increases that drove Western Europe’s poorest country deeper into a recession to save it from insolvency, The Wall Street Journal reported. But with the economy on a slow mend, a late surge of support in opinion polls has vaulted the conservative leader several points ahead of his Socialist rival, making him the favorite in an election on Sunday that is viewed as a test case for the troubled eurozone. In the four years since Mr.

The world economy lost momentum in September, with China’s vast factory sector shrinking again and euro zone manufacturing growth weakening slightly, both casualties of waning global demand. The latest business surveys across Asia and Europe paint a darkening picture and are likely to prompt more calls for central banks around the world to loosen monetary policy even further, The Globe and Mail reported.

The mobile division of consumer data startup Yatango has entered voluntary administration. According to records from the Australian Securities and Investments Commission, Yatango Mobile (Australia) entered voluntary administration on September 29. Hugh Armenis and Katherine Barnet of Bentleys Corporate Recovery have been appointed to manage the administration. The appointment was made under section 436C of the Corporations Act, which allows an individual to enforce a security interest in an entire company or a substantial part of a company.

The head of the International Monetary Fund said on Wednesday that global growth would probably be weaker this year as the world economy confronts a host of problems, including a refugee crisis in Europe, an economic slowdown in China and a pending rise in United States interest rates, the International New York Times reported. The fund’s managing director, Christine Lagarde, predicted a moderate rebound in growth in advanced economies such as those of the United States, Europe and Japan. But she said emerging economies would experience a fifth consecutive year of slowing activity.