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:

Tuesday, July 5th 2016 - 07:21 UTC

OECD-FAO forecasts agriculture prices will remain relatively flat overall in next decade

OECD-FAO projects inflation-adjusted agricultural commodity prices will remain relatively flat. But livestock prices are expected to rise relative to those for crops.

The recent period of high agricultural commodity prices is most likely over, say the OECD and FAO in their latest 10-year Outlook. But the two organizations warn of the need to be vigilant as the probability of a major price swing remains high.

Tuesday, July 5th 2016 - 06:54 UTC

Macri begins official visit to Germany looking for trade and investment

Macri will be received on Tuesday by the German president Joachim Gauck, and is set to share a work lunch with German Chancellor Angela Merkel.

Argentine president Mauricio Macri arrived in Berlin on Monday, in his first official trip to the country and as part of an European tour aimed at strengthening Argentina’s ties with the European Union. Macri arrived from Brussels where he met EU authorities and the day before, was in Paris with president Francois Hollande.

Tuesday, July 5th 2016 - 06:34 UTC

Macri insists in Brussels: “Brexit or not, our Malvinas claim will never change”

“Brexit or not, our claim will never change,” Macri told reporters in Brussels after talks with European Union leaders.

Argentine president Mauricio Macri said on Monday that his country's claim to the Falkland Islands remained unchanged following Britain's vote to leave the EU. “Brexit or not, our claim will never change,” Macri told reporters in Brussels after talks with European Union leaders.


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