Economy

Thursday, March 7th 2019 - 19:04 UTC
WTTC: Travel & Tourism to drive post-Brexit recovery

Travel & Tourism can be a major growth sector for the UK after Brexit, according to new research from the World Travel & Tourism Council (WTTC).
Thursday, March 7th 2019 - 09:53 UTC
Argentina and Brazil markets open Wednesday with steep losses

Latin American stocks hovered near 2019 lows on Wednesday led by steep losses in Argentina and Brazil which resumed trading after a two-day Carnival holiday, while currencies of oil exporters in the region fell as crude prices came under pressure. MSCI's index of Latin American stocks fell 1.3%, tracking losses across the region, barring Chile and Colombia which ended higher.
Thursday, March 7th 2019 - 09:05 UTC
Trump frustrated: US trade deficit soars to a 10-year high

The US trade gap with the rest of the world jumped to a 10-year high of US$ 621bn last year, dealing a blow to President Donald Trump's deficit reduction plan. The trade deficit is the difference between how much goods and services the US imports from other countries and how much it exports.
Thursday, March 7th 2019 - 08:32 UTC
Huawei files a lawsuit against the US government for banning purchase of its products

Huawei has filed a lawsuit against the US government over a ban that restricts government agencies from using its products. In a statement, the firm said the US Congress has “failed to produce any evidence to support its restrictions”.
Thursday, March 7th 2019 - 05:26 UTC
EU has urged to table fresh Brexit proposals within the next 48 hours

The UK has been urged to table fresh proposals within the next 48 hours to break the Brexit impasse. EU officials said they would work non-stop over the weekend if “acceptable” ideas were received by Friday to break the deadlock over the Irish backstop.
Thursday, March 7th 2019 - 05:08 UTC
Bugatti unveils the world's most expensive car, al least US$ 11 million

French supercar maker Bugatti has unveiled the world's most expensive new car, sold to an unnamed buyer for at least US$ 11m (£9.5m) before tax. The exact price is not being revealed but is thought to have overtaken the previous new car record - about £8-9m for a Rolls-Royce Sweptail.
Wednesday, March 6th 2019 - 09:20 UTC
Theresa May's “Stronger Towns Fund” described by Labour as “Brexit bribery”

British Prime Minister Theresa May will on Monday, March 11 set out plans for a £1.6 billion (US$2.11 billion) fund to help to boost economic growth in Brexit-supporting communities with ministers denying it was a bribe to win support for her EU exit deal.
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.