Economy

Thursday, January 31st 2019 - 09:28 UTC
Barclays is transferring €190bn of assets from London to Dublin

Barclays is moving €190bn (£166bn) of assets to Dublin because it “cannot wait any longer” to implement its Brexit contingency plan. The High Court, which has approved the move, says the move involves 5,000 clients. However, few jobs in London are expected to be affected.
Thursday, January 31st 2019 - 09:25 UTC
Washington warns traders not to deal with gold or oil “stolen from the Venezuelan people”

The White House warned traders on Wednesday not to deal in Venezuelan gold or oil following its imposition of stiff sanctions aimed at forcing socialist President Nicolas Maduro from power.
Thursday, January 31st 2019 - 09:22 UTC
German economy threatened by a chaotic Brexit, warns Berlin's economy minister

The clouds darkened over Europe's slowing economy on Wednesday as the German government slashed its growth forecast and said concerns about a chaotic Brexit and trade tensions were holding back the continent's powerhouse. Germany's Economy Ministry said Wednesday it was cutting its 2018 forecast to 1% from 1.8% in its previous outlook issued last fall.
Thursday, January 31st 2019 - 09:18 UTC
Poland and Germany inclined to strike a renewed Brexit deal with Britain

The Polish Prime Minister and senior German politicians have urged Brussels to strike a Brexit deal with Britain in the first sign of divisions within the European Union over its blanket opposition to offering fresh concessions to Theresa May.
Thursday, January 31st 2019 - 09:15 UTC
Federal Reserve adopts “wait and see” policy. Economy facing contradictory picture of crosscurrents, says Powell

The Federal Reserve on Wednesday signaled its three-year-drive to tighten monetary policy may be at an end amid a suddenly cloudy outlook for the U.S. economy due to global headwinds and impasses over trade and government budget negotiations.
Wednesday, January 30th 2019 - 10:01 UTC
Guaidó plans to name new boards of directors at PDVSA and Citgo

The President of Venezuela’s opposition-dominated National Assembly Juan Guaido will announce new boards of directors for state oil company PDVSA and its U.S. business, Citgo, according to opposition leader sources.
Wednesday, January 30th 2019 - 09:59 UTC
Brazil's federal debt increased 8.9% last year and is estimated to rise 11% in 2019

Brazil’s federal debt rose to 3.88 trillion Reais ($1.03 trillion) in December, up 8.9% from 3.56 trillion Reais a year earlier, and is expected to rise further this year, the Brazilian Treasury said. The Treasury predicts public debt this year will swell to somewhere between 4.1 trillion and 4.3 trillion Reais, the upper end of which would represent an increase of almost 11%, it outlined in its annual financing plan.
Wednesday, January 30th 2019 - 09:46 UTC
Russia and China criticize US sanctions on Venezuela: “they undermine confidence in the international financial system”

Russia and China strongly criticized U.S. sanctions placed on Venezuela, with the former pledging to support the beleaguered President Nicolas Maduro. Russian Foreign Minister Sergei Lavrov said on Tuesday the sanctions completely undermined confidence in an international financial system that is dominated by the U.S., Russian news agency Interfax reported.
Wednesday, January 30th 2019 - 09:41 UTC
Parliament instructs PM May to renegotiate Brexit's Irish border backstop

British lawmakers on Tuesday instructed Prime Minister Theresa May to demand that Brussels replace the Irish border arrangement known as the “backstop”, in a last-ditch attempt to renegotiate an exit treaty that the European Union says it will not change.
Wednesday, January 30th 2019 - 09:39 UTC
France rejects any EU/UK renegotiation deal and calls for credible proposals

France on Tuesday rejected any renegotiation of the EU-UK divorce deal and urged Britain to make credible proposals after British lawmakers passed a motion instructing their government to secure changes to a key element of the deal.