Economy

Saturday, January 19th 2019 - 08:36 UTC
Leading Germans in an open letter ask UK to remain in the EU

Leading German figures have written to the UK asking it to stay in the European Union. The letter, published in The Times, is signed by 31 people, including the leader of the Christian Democratic Union - and likely successor to Angela Merkel - Annegret Kramp-Karrenbauer and former Arsenal goalkeeper Jens Lehmann.
Friday, January 18th 2019 - 10:19 UTC
Doubts about Brazil's real soybean production estimate because of adverse weather

Analysts are casting doubt on the Brazilian government’s soybean production estimate. Conab, the government’s food supply and statistics agency, recently issued a forecast for 118.8 million tons of production, only slightly smaller than last year’s record 119.4 million tons.
Friday, January 18th 2019 - 10:12 UTC
Evo Morales’ Bolivia: Abiding the constitution or ensuring the results of sustained economic growth

The Economist has published a piece on Bolivia and its first indigenous president, Evo Morales, who has managed the economy of the continent's poorest country with sustained success during thirteen years. But he has also a strong authoritarian attitude, given his dominance of government branches, and the support of the electorate, mostly indigenous or mestizo. In this scenario, he is running for a fourth consecutive presidential period, which the Constitution bans.
Friday, January 18th 2019 - 10:04 UTC
Wholesale prices in Argentina reach 73.5% in 2018; Peso rallies 10% in the midst of recession

Wholesale prices in Argentina shot 73.5% higher in 2018, government data showed on Thursday, the fastest rate since 2002 when they climbed 118% during an economic crisis that tossed millions of middle-class Argentines into poverty.
Friday, January 18th 2019 - 10:01 UTC
EU prepares contingency plans for a UK disorderly departure

French Prime Minister Edouard Philippe has said a no-deal Brexit looks “less and less unlikely” and has launched a contingency plan to prepare for it. After the UK Parliament rejected the withdrawal agreement, Mr Philippe said laws had to be passed and millions invested in French ports and airports.
Friday, January 18th 2019 - 09:39 UTC
China moves in after Hitachi and Toshiba abandon nuclear plants' plans in UK

China’s General Nuclear Power Corporation (CGN) will bring forward plans to build a nuclear plant in Britain, it said on Thursday, helping plug a gap left by the failure of two Japanese projects.
Friday, January 18th 2019 - 09:03 UTC
UK and Spain agree to guarantee reciprocal suffrage at municipal level post-Brexit

Spain’s Foreign Minister Josep Borrell announced this week that Madrid and London have agreed to guarantee electoral rights in local elections for British residents in Spain and Spanish residents in the UK post-Brexit.
Thursday, January 17th 2019 - 10:10 UTC
Petrobras allowed to sell 90% stake in gas pipeline unit, estimated at US$ 7bn

Brazil’s solicitor general has overturned one injunction that prevented state-controlled oil company Petrobras from proceeding with one of its largest divestitures, the government said in a statement.
Thursday, January 17th 2019 - 09:08 UTC
China injects US$ 83bn to the financial system hoping to prop a declining economy

China’s central bank injected a record US$ 83 billion into the country’s financial system on Wednesday, seeking to avoid a cash crunch that would put further pressure on the weakening economy. China’s policymakers are pledging to step up stimulus measures this year and do more to protect jobs as economic growth cools to 28-year lows.
Thursday, January 17th 2019 - 08:52 UTC
Goldman Sachs apologizes and blames former partner for Malaysia's major corruption scandal

Goldman Sachs new boss has apologized to Malaysia for the role an ex-partner played in the corruption scandal at one of the country's wealth funds. However, chief executive David Solomon also distanced the bank from the scheme, which saw billions embezzled from the state development fund, 1MDB.