Economy

Friday, January 25th 2019 - 10:10 UTC
Argentine twelve-month economic activity to November contracts 7.5%

Economic activity in Argentina slumped 7.5% in November, the INDEC statistic bureau reported on Thursday. The comparative drop in activity from November 2017 and November last year was the most significant since June 2009's eight per cent slump.
Friday, January 25th 2019 - 09:42 UTC
US economy showing best employment numbers in almost half a century

The number of United States citizens filing applications for unemployment benefits fell to more than a 49-year low last week, but the drop likely overstates the health of the labour market as claims for several states including California were estimated.
Friday, January 25th 2019 - 09:35 UTC
US and China “miles and miles away” in resolving economic structural reforms

The United States and China are “miles and miles” from resolving trade issues but there is a fair chance the two countries will get a deal, U.S. Commerce Secretary Wilbur Ross said on Thursday.
Friday, January 25th 2019 - 09:22 UTC
Brexit uncertainties: Jaguar Land Rover will extend its annual shutdown

Jaguar Land Rover is to extend its annual April shutdown in car production because of uncertainties around Brexit. The UK's biggest carmaker will be idle for an extra week because of fears of disruption at its car and engine plants at Liverpool, Birmingham and Wolverhampton.
Friday, January 25th 2019 - 09:06 UTC
Goldman Sachs chief concerned with Brexit, but the main worry in China/US trade dispute

The new chief executive of Goldman Sachs says that a “difficult” Brexit will negatively affect its investment plans in the UK. David Solomon told the BBC that while there has been a hiring freeze in the UK, the bank has been adding staff in the EU over the last two years.
Thursday, January 24th 2019 - 09:33 UTC
Sao Paulo state willing to support automaker GM with tax incentives

General Motors Brazil unit is in advanced talks with Sao Paulo state to receive tax incentives, the company told public officials and union representatives at a meeting on Tuesday, a few days after telling workers in a memo that it was losing money in the country.
Thursday, January 24th 2019 - 08:53 UTC
Santander bank slashing a fifth of its UK network and some 1,270 jobs

Spanish-owned bank Santander is slashing its branch network by almost a fifth, putting 1,270 jobs at risk. The bank blamed the closures on “changes in how customers are choosing to carry out their banking”. It said branch transactions have fallen 23% in the last three years, while digital transactions have soared 99%.
Thursday, January 24th 2019 - 08:50 UTC
Barclays' senior ex bankers on trail charged with conspiracy to commit fraud

Senior Barclays bankers paid Qatar £322m in secret fees during the financial crisis in return for bailout funds, a court heard on Wednesday. The case against four former executives has been filed by the UK's Serious Fraud Office over Barclays' £11.8bn rescue.
Thursday, January 24th 2019 - 07:26 UTC
Luxembourg reaping London's financial services triggered by Brexit

Brexit is driving a much heralded jobs boom and expansion in the financial services industry – in Luxembourg. According to lobby group Luxembourg for Finance, 47 banks, insurers, wealth managers and investment firms have plans to move some business activities to the Grand Duchy in order to cope with potential disruption from Britain’s impending departure from the European Union.
Wednesday, January 23rd 2019 - 09:14 UTC
Argentine central bank intervenes to support the US dollar: buys US$ 50m

Argentina’s central bank said it bought US$ 50 million at an average price of 37.597 Pesos per dollar in the foreign exchange market on Tuesday, part of its effort to maintain the currency in a trading band agreed with the International Monetary Fund.