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Venezuela

  • Theresa May and Boris Johnson were both in the shadow of Jeremy Corbyn at the Conservative conference

    October 3, 2018

    Inevitably, Theresa May's speech was always going to be judged alongside her disastrous efforts this time last year. Twelve months ago she lost her voice and the stage fell apart, but even from that low bar her address in Birmingham was a successful outing for the PM. She also survived the alternative leader speech given by Boris [...]

  • Credit Suisse blasted by Swiss watchdog for corruption failings

    September 17, 2018

    Credit Suisse has been slammed by the Swiss banking watchdog for “deficiencies” in its anti-money laundering procedures in connection with suspected corruption at football body FIFA. Swiss Financial Market Supervisory Authority (Finma) said today it had concluded two enforcement procedures against the bank. The first uncovered “deficiencies in the bank’s adherence to anti-money laundering due [...]

  • UK exports: Venezuela is the riskiest place in the world to do business – while Norway is the most resilient

    March 31, 2015

    Expanding abroad is a big step for any business – and that's without added risks from geopolitical instability and dodgy dealers, not to mention natural hazards. Now a new "resilience index" by property insurer FM Global has identified the riskiest places in the world to do business – taking into account factors ranging from corruption, [...]

  • Venezuela: No hope on the horizon

    March 9, 2015

    In its sixteen years under the Chavista regime, Venezuela never had it worse than it has had in the last three months. For years, stories have circulated about rigged elections, brutal responses to public demonstrations, disregard for the rule of law, and growing poverty and scarcity. However, since the death of Hugo Chavez and the [...]

  • Venezuela to install 20,000 fingerprint scanners in supermarkets as shortages take their toll

    March 9, 2015

    Venezuela is planning to roll out 20,000 fingerprint scanners across the country in a desperate bid to prevent citizens from hoarding and panic buying. President Nicolas Maduro is an enthusiastic supporter of the programme that was mooted last year and received withering criticism. Venezuela has been running short of basic goods like toilet paper, soap [...]

  • No sex, no French fries and lots of queues: Venezuela tops the world’s misery index for 2015

    March 3, 2015

    Ukraine, Greece and Spain are the most depressed countries in Europe – but all the world's economies are outshadowed by the gloomy Venezuelans, which have topped the misery index for a second year running. It should perhaps come as no surprise that Venezuela's population is so unhappy – people have been taking to the streets [...]

  • Venezuela locks up businessmen for “conspiring” to create long queues in effort to undermine government

    February 2, 2015

    Venezuela's increasingly erratic President Maduro has announced that business owners of an unnamed chain of shops have been arrested for purposely creating long queues. Long lines outside retailers have become one the hallmarks of Venezuela's economic problems, accompanied by soaring inflation and empty shop shelves. Maduro accused business leaders of "conspiring" against the people and [...]

  • Venezuela McDonald’s has had its chips as it battles US action

    January 7, 2015

    FAST food giant McDonald’s has run out of french fries at its Venezuelan restaurants. The company has blamed contract disputes with dock workers for halting the export of frozen fries from the US to Venezuela. One City worker who hails from Venezuela told City A.M. that although he was dismayed by the news that McDonald’s [...]

  • McDonald’s out of fries in Venezuela as tight currency controls worsen food shortages

    January 7, 2015

    Things have got so bad in Venezuela that the Golden Arches have to serve up fried yuca instead of French fries. McDonald's 100 franchises in the oil-dependent state have totally run out of potatoes, forcing them to substitute with regional staples like yuca and  maize arepas. Latin America's biggest McDonald's franchise holder Arcos Dorados is [...]

  • Fitch cuts Venezuela’s credit rating to ‘CCC’ on oil price plunge

    December 18, 2014

    Credit rating agency Fitch has slashed Venezuela's credit to 'CCC' on plunging global oil prices, which means "default is a real possibility." It said the country's economy has little room to manoeuvre in the face of crumbling global oil prices, which has eaten away at its main source of income. Venezuela's oil dependent economy requires an [...]

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