Economy

Wednesday, March 6th 2019 - 09:00 UTC
Northern Ireland warns of “grave” consequences of a no-deal Brexit

Northern Ireland's chief civil servant has warned a no-deal Brexit could have “grave” consequences for the region. In a letter to Stormont's political parties, David Sterling comes close to suggesting there may have to be some hardening of the Irish border.
Wednesday, March 6th 2019 - 08:44 UTC
S&P slashes credit rating of several leading Mexican companies including national oil Pemex

Rating agency Standard & Poor’s (S&P) slashed the credit rating for Mexico’s national oil company Petroleos Mexicanos, or Pemex, piling more pressure on the government to tighten up the debt-laden oil firm’s finances.
Wednesday, March 6th 2019 - 08:26 UTC
Brazil posts a fiscal surplus in January, but public finances remain fragile

The Brazilian government posted a fiscal surplus of 46.9 billion reais (US$ 12.5 billion) in January, the central bank said, above forecasts but unchanged from a year earlier. In Brazil, January is traditionally marked by higher tax revenues and lighter spending, so these figures do not change the fragile outlook for public finances, analysts said.
Wednesday, March 6th 2019 - 08:20 UTC
China's National Congress told the economy faces a “tough struggle ahead”

China's number two leader Li Keqiang has warned the country faces “a tough struggle,” as he laid out plans to prop up the world's second-largest economy. Opening the annual session of China's parliament, he forecast a slower growth of 6% - 6.5% this year, down from a target of around 6.5% in 2018.
Wednesday, March 6th 2019 - 08:06 UTC
UK considering massive tariffs cut in the event of a no-deal Brexit

The UK government may cut trade tariffs on between 80% and 90% of goods in the event of a no-deal Brexit, reports say. Some tariffs would be scrapped completely, including those on car parts, and some agricultural produce. However, 10-20% of key products would continue to be protected by the current level of tariffs, including some textiles, cars, beef, lamb and dairy.
Tuesday, March 5th 2019 - 09:55 UTC
World markets fall as China cuts its economic growth target

Asian shares stepped back on Tuesday after China cut its economic growth target and pledged measures to support the economy amid growing challenges from rising debt and a dispute over trade and technology with the United States. Australian shares dropped 0.6% while South Korea's Kospi lost 0.5%. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2% and Japan's Nikkei dropped 0.3%.
Tuesday, March 5th 2019 - 09:55 UTC
Trump tightens trade embargo on Cuba; retaliation for Havana's support for Maduro

The Trump administration announced Monday that it is tightening the six-decade trade embargo on Cuba by allowing lawsuits against Cuban companies using properties confiscated after its 1959 revolution.
Tuesday, March 5th 2019 - 04:30 UTC
World gigabyte costs: India the cheapest and Falklands among the most expensive

A study into the amount people pay for mobile data has found that the UK has some of the most expensive prices in Europe. Likewise the Falkland Islands and Saint Helena figure among the five worst cases in the site Cable.co.uk. The research found that one gigabyte (GB) of data cost $0.26 (£0.20) in India but $6.66 in the UK, and US$ 47.39 in the Falklands.
Tuesday, March 5th 2019 - 04:10 UTC
Argentina's seven-week Illex squid season has totaled 50.195 tons

The 2019 squid season in Argentina took off with very good weekly yields, and average catches per vessel of 34.6 tons/day during the first seven weeks of operations south of the 44th parallel.
Monday, March 4th 2019 - 21:44 UTC
Vale's top executives removed following the collapse of a dam that killed 300

The head of Brazil's Vale mining giant has stepped down following the collapse of a dam which killed at least 186 people in the town of Brumadinho. Fabio Schvartsman and several other executives asked to be removed after prosecutors called for their dismissal.