Economy

• Thursday, May 30th 2019 - 09:21 UTC

  Jersey and Guernsey, among the “worst tax havens”, Tax Justice Network says

  

  A new list of corporate tax havens has named Jersey as the seventh most “aggressive” in the world. The Tax Justice Network created the ranking by assigning a “haven score” based on 20 different criteria. Both Jersey and Guernsey scored 98 out of a possible 100, putting them “up there with the worst.”

• Thursday, May 30th 2019 - 09:15 UTC

  European football market valued at €28.4bn; English Premier League leads, £4.8bn

  

  The big five European leagues generated a record €15.6bn (£13.8bn) in revenue in 2017-18, a 6% annual increase, according to new figures from Deloitte. It says the European football market is now worth some €28.4bn (£25.1bn). The English Premier League was the market leader, with record revenues of £4.8bn, as five teams competed in the Champions League for the first time.

• Thursday, May 30th 2019 - 09:10 UTC

  Real Madrid, the most valuable European football club, worth €3.22bn

  

  Real Madrid has overtaken Manchester United and been named most valuable European football club, being worth about €3.22bn (£2.91bn), says KPMG. The Spanish club tops KPMG's study of top sides' “enterprise value”.

• Wednesday, May 29th 2019 - 10:07 UTC

  Corbyn ready to back a second referendum on Brexit

  

  Britain's Labour Party leader Jeremy Corbyn is set to back a second referendum on Brexit and it could be within days, the Mirror newspaper reported late on Tuesday citing senior figures of the party.

• Wednesday, May 29th 2019 - 10:03 UTC

  Brazil's iron ore industry misery, a boom for Australian big miners

  

  Iron ore prices look set to be stronger for longer, potentially delivering windfall profits for West Australia’s big miners for the next two years. As the iron ore price hit a five-year high of US$107.50/t this week, analysts have begun scrambling to revise their estimates as they start to digest the impact of supply disruptions out of Brazil and how long the outages could linger.

• Wednesday, May 29th 2019 - 09:58 UTC

  Central Bank reveals that Maduro administration shrunk Venezuela's economy by the half

  

  After several years, the Central Bank of Venezuela (BCV) published results of gross domestic product (GDP) until the third quarter of 2018, with which officially confirms the recession that is experienced in the oil country. With the data it is known then that between the third quarter of 2013 to September of last year the economy lost 52.3%. President Nicolás Maduro is on power since 2014.

• Wednesday, May 29th 2019 - 09:23 UTC

  Mrs. May urges her successor to reach a Brexit deal, but Brussels insists there won't be any renegotiation

  

  Prime Minister Theresa May on Tuesday urged whoever succeeds her to get Britain out of the EU quickly but with a deal, as she met the bloc's leaders just days after announcing her resignation. May looked relaxed and smiled for the cameras as she arrived at a Brussels summit, the first one in many months that did not require her to wrangle with European colleagues over Brexit.

• Wednesday, May 29th 2019 - 09:06 UTC

  International capital inflow to Brazil exceeds forecasts

  

  Brazil posted a surprise current account deficit in April, central bank data showed on Monday, although as a share of national economic output Brazil's balance of payments shortfall with the rest of the world is showing signs of stabilizing.

• Tuesday, May 28th 2019 - 09:47 UTC

  Brazil's Guedes insists he will step down if the pensions reform is not approved by Congress

  

  Brazil’s Economy Minister Paulo Guedes threatened to step down if his ambitious plans to overhaul the country’s social security system are watered down and diluted into what he called a “little reform.”

• Tuesday, May 28th 2019 - 09:47 UTC

  Rationing, long queues and empty shelves in Cuba as the economy heads to recession

  

  As long lines outside shops with mostly bare shelves are increasingly common in Cuba, and the government has indeed signaled that things are going from bad to worse, Havana is blasting president Donald Trump's administration for the hardship and misery.