Economy

Wednesday, February 20th 2019 - 10:16 UTC
UK supermarkets stockpiling ahead of Brexit on March 29; shortages and higher prices forecasted

Britons could face shortages of fresh food, price rises and less variety if the country leaves the European Union next month without agreeing trade terms, food industry officials say.
Wednesday, February 20th 2019 - 10:11 UTC
Argentine foreign minister gives India some advice on Chinese penetration

If India has to compete with China in Latin America, then it has to be “absolutely active” in the region, Argentine Foreign Affairs Minister Jorge Faurie said on Tuesday during the business forum in New Delhi.
Wednesday, February 20th 2019 - 10:01 UTC
Europe's biggest bank slower profits blamed on tepid growth in China and UK

HSBC warned it may have to delay some investments this year as Europe's biggest bank missed 2018 profit forecasts due to slowing growth in its two home markets of China and Britain. HSBC reported a drop in fourth-quarter revenue amid tumbling stock markets that sapped customer's confidence in investing.
Wednesday, February 20th 2019 - 09:34 UTC
Latam Airlines expected to have a 51% controlling interest in Latam Brazil

Chile’s LATAM Airlines Group SA has asked Brazil’s antitrust regulator Cade to boost its voting stake in LATAM Airlines Brazil to 51%, formalizing a controlling interest in Brazil’s No. 2 airline that for years it was unable to achieve because of local restrictions.
Wednesday, February 20th 2019 - 09:17 UTC
Ford closes oldest factory in Sao Paulo and exits heavy trucks business in Brazil

Ford Motor Co. said on Tuesday it will close its oldest factory in Brazil and exit its heavy commercial truck business in South America, a move that could cost more than 2,700 jobs as part of a restructuring meant to end losses around the world. Ford previously said the global reorganization, to impact thousands of jobs and possible plant closures in Europe, would result in US$11 billion in charges.
Wednesday, February 20th 2019 - 09:12 UTC
Brexit melee: Mrs. May to Brussels to meet Juncker; on Thursday Corbyn talks to Barnier

Theresa May will return to Brussels on Wednesday to continue talks on her Brexit deal. She will meet the President of the European Commission, Jean-Claude Juncker. Earlier, Brexit Secretary Stephen Barclay updated Cabinet on talks with the EU's chief negotiator, Michel Barnier.
Wednesday, February 20th 2019 - 09:06 UTC
Huawei founder: “there's no way the US can crush us: we are more advanced”

Huawei Technologies founder Ren Zhengfei said “there’s no way the US can crush us”, according to an interview he gave to BBC. “The world cannot leave us because we are more advanced. Even if they persuade more countries not to use us temporarily, we can always scale things down a bit,” he said.
Wednesday, February 20th 2019 - 08:32 UTC
UK record employment in 2018 fourth quarter; jobless rate 4%, lowest since 1975

The number of people in work in the UK has continued to climb, with a record 32.6 million employed between October and December, the latest Office for National Statistics figure show. Unemployment was little-changed in the three-month period at 1.36 million.
Wednesday, February 20th 2019 - 08:28 UTC
Global trade growth forecasted to slow this year, says

Global trade growth is on track to slide further the first quarter of 2019, the World Trade Organization said. WTO in September said it expects world merchandise trade growth will slow to 3.7% this year down from 3.9% in 2018.
Tuesday, February 19th 2019 - 09:21 UTC
Hammond visit to China called off amid reports of Beijing anger with UK defense actions

A visit to China by Chancellor Phillip Hammond has been called off amid reports a speech by the UK's defense secretary angered Beijing. There were plans for trade talks between Mr Hammond and senior Chinese government figures during the brief visit this week. But last week, Gavin Williamson had indicated the UK's intention to send an aircraft carrier to the Pacific.