Economy

• Friday, August 2nd 2019 - 09:46 UTC

  US business lobbies warn extra tariffs will hurt American consumers

  

  President Donald Trump's threat to impose 10% tariffs on the remaining US$300 billion of Chinese imports from Sept. 1 will hurt consumer purchases, raise prices further and limit hiring, four large retail trade groups warned on Thursday.

• Friday, August 2nd 2019 - 09:43 UTC

  Trump slaps additional 10% punitive tariff on US$ 300 billion of Chinese goods

  

  President Donald Trump announced on Thursday he will hit China with punitive tariffs on another US$300 billion in goods, escalating the trade war after accusing Beijing of reneging on more promises.

• Thursday, August 1st 2019 - 15:22 UTC

  Barrick Gold to invest 34 million dollars over two years on Argentina's Veladero mine

  

  Canadian mining giant Barrick Gold Corporation, which co-owns the Veladero mine in San Juan together with the Chinese Shandong Gold Group, has announced a plan to invest US $ 34 million over the next two years, to extend the deposit's profitability beyond 2028.

• Thursday, August 1st 2019 - 12:56 UTC

  Argentine consumers spend significantly less in July

  

  Another strong decline in mass consumption at Argentine supermarkets was reported Wednesday by the Crónica news outlet, which would show a sharp deterioration in purchasing power as a result of President Mauricio Macri's economic policies.

• Thursday, August 1st 2019 - 09:36 UTC

  South America expected to grow 0.2% in 2019, forecasts CEPAL

  

  Hit by five years of “economic slowdown,” Latin America's economy will grow by barely 0.5% this year, the United Nations economic commission for the region said on Wednesday, well below the 1.3% projected in April.

• Thursday, August 1st 2019 - 09:27 UTC

  US/China “candid” trade talks, but no breakthrough; next meeting in September in Washington

  U.S. and Chinese negotiators ended a brief round of trade talks on Wednesday with little sign of progress and agreed to meet again in September, prolonging an uneasy truce in a year-long trade war between the world’s two largest economies.

• Thursday, August 1st 2019 - 09:13 UTC

  Brazil's central bank cuts main interest rate to 6%, confident of “reforms' process”

  

  Brazil's central bank slashed interest rates to a record low on Wednesday in response to the worsening outlook for Latin America's biggest economy. The bank cut its main rate to 6% from the previous historic low of 6.5%, which had been unchanged since March 2018.

• Wednesday, July 31st 2019 - 09:57 UTC

  Trump after a trade deal with Brazil, but Brasilia says any tariffs agreements must include Mercosur members

  

  President Donald Trump on Tuesday said he will pursue a U.S. trade agreement with Brazil, suggesting a friendly relationship with President Jair Bolsonaro could help lower trade barriers between the two biggest economies in the Americas.

• Wednesday, July 31st 2019 - 09:46 UTC

  Maduro and Guaidó desperate: Venezuela on the verge of losing Citgo to an arbitration award

  

  Venezuela could lose its largest U.S. asset after a court allowed a Canadian gold miner to seize shares of Citgo Petroleum Corp.’s parent to satisfy an arbitration award.

• Wednesday, July 31st 2019 - 09:25 UTC

  Economic decline of Venezuela since 2013 estimated at 65% by the IMF

  

  The cumulative decline of the Venezuelan economy since 2013 will reach 65%, among the deepest five-year contractions around the world over the last half-century, the International Monetary Fund has announced.