Economy

• Saturday, February 16th 2019 - 11:30 UTC

  China/US trade talks break down; Washington warns “very difficult issues” remain unresolved

  

  Trade talks between the US and China have broken up without a deal, with the US warning that “very difficult issues” remain unresolved. The talks in China this week were aimed at securing a new deal before further US tariffs are imposed on 1 March. China said negotiations would now continue in the US next week.

• Saturday, February 16th 2019 - 11:10 UTC

  Brexit has cost UK economy some £80 billion since the 2016 vote, says BoE policymaker

  

  Brexit has cost the British economy at least £80 billion since the referendum and the shock of a no-deal divorce could see interest rates slashed, according to a Bank of England policymaker. Gertjan Vlieghe, an external member of the central bank’s Monetary Policy Committee, said that, since the June 2016 vote, 2% has been shaved off GDP.

• Saturday, February 16th 2019 - 10:46 UTC

  Theresa May sticks to her Brexit strategy despite Tories row and Commons defeat

  

  British Prime Minister Theresa May is sticking to her Brexit strategy, despite her party rowing in the wake of her latest Commons defeat. MPs rejected a motion endorsing her approach by 303 to 258, with 66 Tory MPs abstaining, leading one minister to accuse Brexiteer rebels of “treachery”.

• Saturday, February 16th 2019 - 07:32 UTC

  Falklands has offered 105 licenses for the new Illex squid season

  

  The Illex squid fishery season starts on February 14 and 105 licenses have been offered confirmed Director of Natural Resources John Barton. He added: “Not all vessels which applied received licenses. The number of licenses offered is the same as the last few years.”

• Friday, February 15th 2019 - 10:58 UTC

  Chile joins Uruguay, Argentina and Paraguay in bid to host the 2030 World Cup

  

  Argentina, Chile, Paraguay and Uruguay are to submit a joint bid to host the 2030 World Cup, Chile's President Sebastian Piñera announced on Thursday. Argentina, Paraguay and Uruguay had already submitted a joint bid to host the centenary edition of football's most prestigious tournament, but Piñera said on Twitter that those countries' presidents had agreed to Chile's participation in the “joint candidacy”.

• Friday, February 15th 2019 - 10:24 UTC

  Agribusiness lobby in Brazil shows its muscle: US$ 52bn in subsidized farm loans

  

  Brazil could double spending on subsidized farm insurance in 2020 and may expand subsidized loans, the country’s agriculture policy secretary said on Thursday; even though the new government’s economic team has pledged to cut spending.

• Friday, February 15th 2019 - 08:57 UTC

  Netherlands mock Brexit with a giant Muppet-style monster

  

  The Dutch government sees Brexit not as the elephant in the room but as a giant Muppet-style monster lying on a desk. That is the picture tweeted by Foreign minister Stef Blok, with the warning: “make sure Brexit doesn't sit - or lie - in your way”. There is a link to an official website where Dutch firms can see the potential impact of Brexit on their business.

• Friday, February 15th 2019 - 08:55 UTC

  Germany on the edge of recession following weak trade performance

  

  Germany's economy just about avoided falling into recession during the final three months of last year. Europe's largest economy registered zero growth during the fourth quarter of 2018, the country's Federal Statistics Office said. That means it avoided two consecutive quarters of contraction, which is the usual definition of a recession.

• Friday, February 15th 2019 - 08:54 UTC

  JP Morgan breaks ground and creates a crypto-currency, JPM Coin

  

  US investment bank JP Morgan has created a crypto-currency to help settle payments between clients in its wholesale payments business. JPM Coin is the first digital currency to be backed by a major US bank.

• Friday, February 15th 2019 - 08:49 UTC

  PM's May approach to Brexit talks again rejected in Parliament: 303 to 258

  

  Prime Minister Theresa May has suffered another Commons defeat after MPs voted down her approach to Brexit talks. MPs voted by 303 to 258 - a majority of 45 - against a motion endorsing the government's negotiating strategy.