Brazil downgraded to junk as Citi tips global recession

Well it’s certainly not good news for a country already in a recession. Brazil – Latin America’s largest economy – has now lost its investment-grade credit rating. Ameera David weighs in. Then, Erin Ade sits down with Cate Long – partner at Puerto Rico Clearinghouse – to talk about the current situation in Puerto Rico, which has deteriorated.

After the break, Bianca Facchinei takes a look at the federal investigation into United Airlines and the golden parachute of that airline’s CEO. Afterwards, Ameera and Erin talk about how the IRS rejected Yahoo’s attempt at a tax-free spinoff of Alibaba, Alibaba’s revenue woes and the difficulties of Yahoo CEO Marissa Mayer. And in The Big Deal, Ameera and Edward Harrison discuss Citigroup Chief Economist Willem Buiter’s prediction of a global recession within two years.

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