Economy

• Thursday, November 29th 2018 - 09:23 UTC

  Trump favors imposing tariffs to protect US auto industry; EU ready to react with retaliation tariffs

  

  President Donald Trump on Wednesday indicated he favours imposing import tariffs to protect the US auto industry, which was rocked by this week's announcement of job cuts at General Motors. In two tweets, the president said that extending tariffs already in place for foreign-built small trucks to the car sector would help domestic manufacturers.

• Thursday, November 29th 2018 - 08:35 UTC

  Bank of England warnings on a no-deal Brexit: recession and plunging pound

  

  A no-deal Brexit could send the pound plunging and trigger a worse recession than the financial crisis, the Bank of England has warned. It said the UK economy could shrink by 8% in the immediate aftermath if there was no transition period, while house prices could fall by almost a third. The Bank of England also warned the pound could fall by a quarter.

• Thursday, November 29th 2018 - 08:23 UTC

  China/Argentina closer links; Beijing to finance the country's fourth nuclear power plant

  

  Argentina and China are aiming to close a deal within days for the construction of the country's fourth nuclear power plant, a multi-billion dollar project that would cement Beijing’s deepening influence in a key regional U.S. ally.

• Thursday, November 29th 2018 - 07:20 UTC

  Mexico's Lopez Obrador takes office amid business community concerns

  

  Mexico's central bank cut its economic growth forecast for 2019 on Wednesday, citing uncertainty over the policies that president-elect Andres Manuel Lopez Obrador will pursue. In its quarterly report on the state of Latin America's second-largest economy, after Brazil, the Bank of Mexico predicted growth of 1.7 to 2.7% next year, down from 1.8 to 2.8% in its previous forecast.

• Thursday, November 29th 2018 - 07:08 UTC

  Norwegian Air plans to break British Airways London/Rio do Janeiro “monopoly”

  

  Budget carrier Norwegian Air plans to start flights between London and Rio de Janeiro in March to break what it said was a “monopoly” enjoyed by British Airways between the two cities.

• Thursday, November 29th 2018 - 06:56 UTC

  G20: Step Up to Boost Inclusive Growth

  

  By Christine Lagarde - As G20 leaders gather in Argentina, the global economy faces a critical juncture. We have had a good stretch of solid growth by historical standards, but now we are facing a period where significant risks are materializing and darker clouds are looming.

• Thursday, November 29th 2018 - 06:35 UTC

  King steer Knickers size has proved to be his saving grace

  

  Knickers looms above the thousands of other cattle that he feeds with in rural Western Australia. At some 1,400kg (220st) and 194cm (6ft 4in), the seven-year-old is believed to be the biggest steer in a country home to millions of cattle. And his size has proved to be his saving grace.

• Wednesday, November 28th 2018 - 18:50 UTC

  Brazilian credit card users offered predictable exchange rate for deals in foreign currency

  

  Brazil's Central Bank (BCB) President Ilan Goldfajn Wednesday announced a new rule for credit card charges in foreign currency: the sum consumers will have to pay in reais will be calculated on the basis of the exchange rate at the day of the transaction. The measure, however, will become effective as March 1, 2020.

• Wednesday, November 28th 2018 - 09:39 UTC

  President Xi leaves Beijing on a four-country tour, plus G20 in Buenos Aires

  

  Chinese President Xi Jinping on Tuesday left Beijing to visit Spain, Argentina, Panama and Portugal, and to attend the G20 summit. President Xi will pay state visits to the four countries from November 27 to December 5. During his trip to Argentina, Xi will attend the G20 summit from November 30 to December 1 in Buenos Aires.

• Wednesday, November 28th 2018 - 08:45 UTC

  UK economic analysis in support of Brexit deal; Theresa May visits Scotland

  

  The British government is due to publish its economic analysis on the long-term effects of Brexit on the UK. Various scenarios will be set out by the Treasury - with the Daily Telegraph saying it will predict £150bn in lost output over 15 years under no deal, with Theresa May's plan costing £40bn.