Economy

Thursday, July 16th 2020 - 09:39 UTC
Riots in Santiago as congress considers bill to allow Chileans to withdraw part of their pension funds

Protesters in Santiago defied a citywide lockdown meant to combat the spread of the coronavirus, barricading roads and looting early into the morning on Wednesday in support of a proposal to allow Chileans to withdraw part of their pensions amid the crisis.
Thursday, July 16th 2020 - 09:18 UTC
Eight Overseas Territories, including Falklands, committed to improve corporate transparency

Ministers updated Parliament on Wednesday on a major step forward by the UK’s Overseas Territories to help improve global corporate transparency. The written statement welcomes commitments from eight Overseas Territories to introduce publicly accessible registers detailing who owns the companies in their Territory.
Thursday, July 16th 2020 - 09:09 UTC
Chinese economy grows 3,2% in second quarter year-on-year; follows on steep slump of 6,8% in first quarter

China's economy grew 3.2% in the second quarter from a year earlier, data showed on Thursday, recovering from a record contraction as lockdown measures ended and policymakers stepped up stimulus to combat the shock from the coronavirus crisis.
Thursday, July 16th 2020 - 09:00 UTC
UK anticipates sweeping tax cuts and planning ten new “free-ports”, after final divorce with EU

British finance minister Rishi Sunak is preparing to introduce sweeping tax cuts and an overhaul of planning laws in up to 10 new “free-ports” within a year of the UK's becoming fully independent from the European Union in December, the Sunday Telegraph said.
Thursday, July 16th 2020 - 09:00 UTC
Chilean lawmaker celebrates passing of a bill liberating 10% of pension funds

Chilean lawmaker launched hundreds of internet memes on Wednesday when she ran through congress wearing a pink cape and waving matching fans to celebrate passage in the lower house of a coronavirus emergency aid measure.
Thursday, July 16th 2020 - 06:32 UTC
London to announce the return of EU reclaimed regulatory powers to Scotland, Wales and Northern Ireland

Britain will publish plans this Thursday to keep trade flowing freely between its constituent nations when regulatory powers are reclaimed from the European Union at the end of the year and redistributed to devolved governments in Scotland, Wales and Northern Ireland.
Thursday, July 16th 2020 - 06:23 UTC
Apple scores major win: European court rejects order for iPhone maker to pay 13bn Euros in Irish back taxes

Apple scored a major win on Wednesday as Europe's second-highest court rejected an EU order for the iPhone maker to pay 13 billion euros (US$15 billion) in Irish back taxes, dealing a blow to the bloc's attempts to crack down on sweetheart tax deals.
Thursday, July 16th 2020 - 06:19 UTC
The eight candidates for the WTO chair begin round of presentations

The eight candidates battling to become the next head of the beleaguered World Trade Organization make their pitches this week, with three days of auditions. The contenders will make 15-minute presentations to the 164 member states' representatives at the WTO headquarters in Geneva, before facing a 75-minute grilling over their plans for the global trade body.
Wednesday, July 15th 2020 - 08:57 UTC
US consumer prices rebounded 0,6% in June; gasoline climbed 12,3% after sliding the previous five months

US consumer prices rebounded by the most in nearly eight years in June, but a resurgence in new COVID-19 cases after the reopening of businesses suggests moderation in demand that could keep inflation muted and allow the Federal Reserve to keep injecting money into the ailing economy.
Wednesday, July 15th 2020 - 08:56 UTC
Ecuador's US$ 17,4bn debt restructuring plan faces divided bondholders

Ecuador’s government will likely have to sweeten its offer to creditors in order to reach an agreement to restructure US$ 17.4 billion in bonds, say analysts. The government’s proposal already has the backing of one group of creditors, holding around half of the bonds and including AllianceBernstein, Ashmore and BlackRock.