Economy

• 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.

• Wednesday, January 23rd 2019 - 09:09 UTC

  Davos will listen to China, Europe and Japan leaders this Wednesday

  

  China and Europe take centre stage at Davos on Wednesday, a day after Brazil's hard-right President Jair Bolsonaro promised reform and respect for the environment to the world's business elite.

• Wednesday, January 23rd 2019 - 09:07 UTC

  Superstar Cristiano Ronaldo agrees to pay ‎€19 million for tax fraud in Spain

  

  Football superstar Cristiano Ronaldo has paid a fine of almost ‎€19 million for tax fraud in Spain on Tuesday but will avoid a 23-month prison sentence as part of the deal.

• Wednesday, January 23rd 2019 - 08:51 UTC

  Pence addresses the Venezuelan people ahead of Wednesday's protest day

  

  United States Vice President Mike Pence issued a video message of support to Venezuelans on Tuesday to encourage those who are protesting against President Nicolas Maduro and underline U.S. backing for opposition leader Juan Guaido.

• Wednesday, January 23rd 2019 - 07:58 UTC

  Bolsonaro tells Davos he plans to make the “new Brazil” an investment-friendly country

  

  Brazil's newly-elected populist President Jair Bolsonaro addressed the world's business elite in Davos on Tuesday, vowing to transform Latin America's largest economy into a more investment-friendly country. On his first international trip since becoming president, Bolsonaro delivered the keynote speech at the World Economic Forum.

• Wednesday, January 23rd 2019 - 07:28 UTC

  Sturgeon to London to meet Mrs. May; First Minister favors extension of Article 50

  

  Scottish First Minister Nicola Sturgeon is heading to London for Brexit talks with Prime Minister Theresa May. Mrs. May is attempting to build support for her withdrawal plan and is holding talks with opposition parties and the Scottish and Welsh governments.