Economy

Thursday, March 21st 2019 - 09:52 UTC
GM announces US$ 2.5bn investment in Brazilian car industry

General Motors Co said it would invest US$ 2.7 billion in two Brazilian factories over the next five years, sparing them from a shakeup of the automaker’s operations, a decision hailed by the governor of Brazil’s largest state.
Thursday, March 21st 2019 - 09:45 UTC
Citigroup plans to sell US$ 1.6bn of Venezuelan gold held on collateral

Citigroup Inc plans to sell several tons of gold placed as collateral by Venezuela’s central bank on a US$ 1.6 billion loan after the deadline for repurchasing them expired this month, sources said Reuters, a setback for President Nicolas Maduro’s efforts to hold onto the country’s fast-shrinking reserves.
Thursday, March 21st 2019 - 09:40 UTC
Fed confirms it does not expect to raise interest rates in 2019

The US Federal Reserve does not expect to raise interest rates for the rest of 2019 amid slower economic growth. After a two-day meeting, monetary policymakers voted unanimously to keep the US interest rate range between 2.25%-2.5%.
Thursday, March 21st 2019 - 09:26 UTC
After 34 years Levi Strauss is back in the stock market with a value of US$ 6.5bn

Levi Strauss will be worth about US$ 6.5bn when the denim-maker rejoins the stock market after 34 years away. Shares in the inventor of the blue jean have been priced at US$ 17 each, just above the target range of US$ 14-16.
Thursday, March 21st 2019 - 09:20 UTC
US markets drop following on Trump's remarks about trade talks with China

US stocks have fallen after President Donald Trump said his administration was considering leaving tariffs on China for a “substantial period”. Mr. Trump said that a trade deal with Beijing was “coming along nicely”, but his comments dampened hopes a deal would be reached soon. US negotiators are due to visit China next week to resume talks.
Thursday, March 21st 2019 - 06:30 UTC
Mercosur farmers protest Bolsonaro's decision to allow US wheat imports free of tariffs

Farmers in Brazil and Argentina are concerned about Brazilian President Jair Bolsonaro's agreement to import 750,000 tons of wheat from the United States and other countries outside the Mercosur trade bloc without the 10% tariff that is usually required for such purchases.
Wednesday, March 20th 2019 - 21:55 UTC
Falklands launches procurement process and issues tender for a new port facility

The Falkland Islands Executive Council on Wednesday approved a formal procurement process to issue an Invitation to Tender (ITT) to the global construction market to select and appoint a preferred development partner for the design, construction and potentially the operation of a new port facility. The tender will also invite bidders to submit funding options.
Wednesday, March 20th 2019 - 10:20 UTC
Trump warns GM: “close a plant in China or Mexico and bring jobs home!”

President Donald Trump is escalating his pressure on General Motors, as he calls for the company to reopen an Ohio manufacturing plant.
Wednesday, March 20th 2019 - 09:49 UTC
Mrs. May, with a divided cabinet, writes to EU requesting postponing Brexit; she flies to Brussels on Thursday

Prime Minister Theresa May is writing to the EU to formally ask for Brexit to be postponed. One ministerial source told the BBC the longer delay could be up to two years, amid reports of a cabinet row, but No 10 said no decision had been made.
Tuesday, March 19th 2019 - 20:59 UTC
Venezuelan gold crisis: US imposes sanctions on state mining company

United States Treasury Department announced new sanctions on Venezuelan state-run ferrous metals mining Company, Minerven, and its President, Adrián Antonio Perdomo on Tuesday for promoting “illicit” gold operations that have continued to prop up the regime of President Nicolas Maduro.