International

International
Friday, July 8th 2016 - 04:53 UTC

A woman will succeed PM Cameron and lead UK's exit from EU

May promised “strong, proven leadership” to negotiate UK's EU departure and to “make UK a country that works not for a privileged few but for every one of us”.

Two women Theresa May and Andrea Leadsom are battling to become the next leader of the British Conservative party and thus prime minister, the first time since the late Margaret Thatcher. After the second MPs ballot on Thursday, Home Secretary May finished with 199 votes, Energy Minister Mrs. Leadsom 84 and Michael Gove, the justice secretary, 46.

Friday, July 8th 2016 - 04:49 UTC

Four US leading banks commit continued support for London as global financial hub

The banks and Chancellor George Osborne said in a statement they would work to ensure London “retains its position”.

Four of the biggest US banks have committed to helping maintain London's position as a global financial hub after the UK leaves the European Union. Since the referendum vote there have been concerns that banks would reduce their staff and offices in the country.

Thursday, July 7th 2016 - 07:11 UTC

Federal Reserve extremely cautious on Brexit aftermath and US job market

”None of us really knows the magnitude and I doubt there will be a moment when people say Brexit is done. It will be something over time,” Tarullo said

Federal Reserve policymakers decided in June that interest rate hikes should stay on hold until they have a handle on the consequences of Britain's vote on EU membership, according to the minutes of the Fed's June policy meeting released on Wednesday.

Thursday, July 7th 2016 - 06:43 UTC

US trade deficit soars 10% in May; imports rise and exports fall

The deficit is particularly pronounced with China, where the gap rose by 19.4% to US$29bn. The trade gap with the European Union also widened by 13.5%.

United States trade deficit grew by 10% in May as exports fell while imports, particularly from China, rose according to the latest report from the Commerce Department. The deficit rose to US$41.1bn in May compared with US$37.4bn in April, while exports decreased by 0.2%, while imports grew by 1.6%.

Thursday, July 7th 2016 - 06:33 UTC

Germany warns EU members about a tax-cuts race to attract Brexit business

Schaeuble said “We have no intention to start some sort of race to the bottom”, in response to Osborne's proposal to slash corporation tax to avoid a business exodus

German Finance Minister Wolfgang Schaeuble has said he opposes a “race to the bottom” of competitive tax cuts. He spoke after George Osborne pledged to cut UK corporation tax in response to the Brexit vote and from Paris, in an attempt to attract UK businesses, the French government promised its taxes will be the most favorable in Europe.

Thursday, July 7th 2016 - 06:02 UTC

Iraq war: UK, pushed by US sent ill-prepared troops into battle with inadequate plans for the aftermath

Sir John Chilcot - chairman of UK's Iraq War inquiry - concluded Blair had sent ill-prepared troops into battle with “wholly inadequate” plans for the aftermath.

The United States pushed the UK into military action in Iraq “too early”, a former British ambassador to the UN has said in the wake of the Chilcot report. The long-awaited report said ex-Prime Minister Tony Blair had overstated the threat posed by Saddam Hussein - and military action was not a last resort.

Wednesday, July 6th 2016 - 04:40 UTC

Macri pushes in Berlin for EU-Mercosur accord, but Merkel sides with France in the agriculture issue

“The most difficult chapter is agriculture, and his is essential and in that sense we need a more flexible position from the French side,” Macri said.

President Mauricio Macri met on Tuesday with German Chancellor Angela Merkel in Berlin with both leaders holding a press conference to address the current state of talks regarding a trade agreement between the European Union and the Mercosur.

Wednesday, July 6th 2016 - 04:25 UTC

Mega agreement between Italy and Shanghai shipbuilders, and Carnival to develop China's cruise industry

The signing took place in Shanghai between Fincantieri CEO Giuseppe Bono; Wu Qiang, CSSC president, and head of Shanghai Waigaoqiao Shipbuilding, Wang Qi.

Fincantieri and the China State Shipbuilding Corporation (CSSC), China’s largest shipbuilding conglomerate, have signed an agreement for the development of a joint venture aimed at developing and supporting the growth of the Chinese cruise industry, according to a statement.

Wednesday, July 6th 2016 - 04:16 UTC

Spain to analyze Brexit impact for employment in Gibraltar neighboring areas

Senior representatives of leading unions UGT and CCOO in Andalusia called on Gibraltar's Chief Minister Fabian Picardo to exchange views on the issue.

The central Spanish Government and regional authorities in Andalucia are taking an increasingly-close interest on the impact that a United Kingdom withdrawal from the EU could have on communities in the Campo de Gibraltar, neighbouring with the British Overseas Territory of Gibraltar, and the region as a whole.

Wednesday, July 6th 2016 - 04:02 UTC

Temer extends a Rio Olympic Games open arms message to the world

The Olympic Village, housing more than 17,000 participating athletes in one of Rio de Janeiro’s most beautiful settings, has just been inaugurated.

With just a month to go to the Olympic Games, Michel Temer Brazil’s interim president, invites the world to experience the beauty of Rio de Janeiro. The following is his welcome message to the world’s athletes, officials and fans:

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