Economy

• Tuesday, November 27th 2018 - 08:47 UTC

  Trump not happy with GM's decision to cut 14.000 jobs and close several plants

  

  President Donald Trump does not like the news that General Motors would close several plants and cut more some 14,000 jobs. Speaking to reporters on the White House lawn on Monday afternoon, Trump said he spoke with CEO Mary Barra and told her he wasn't happy with the decision. “I told her I'm not happy about it,” Trump told reporters.

• Tuesday, November 27th 2018 - 08:44 UTC

  Italy confirms its high spending budget to “end poverty” and defies EU rules

  

  Italy's government says it will stick to its high-spending budget plans, setting up a potential stand-off with the European Union over its deficit. PM Giuseppe Conte, who held talks with deputies Matteo Salvini and Luigi Di Maio on Monday, said the objectives for 2019 had already been fixed.

• Tuesday, November 27th 2018 - 05:20 UTC

  Oil and chemistry bring big revenues to China

  

  The oil and chemical industries have meant a 712.1 billion yuan (around 103 billion US dollar) profit for the first three quarters of the year for China's treasure, which equals a 45.2 percent increase from the same period of 2017, according to official Ministry of Industry and Information Technology figures released Monday.

• Monday, November 26th 2018 - 21:39 UTC

  Dollar climbs in Argentina as Macri worries about football violence

  

  Buenos Aires was still shaking around noon Monday from the weekend's Libertadores Cup fiasco. President Mauricio Macri was publicly addressing the issue for the first time at a press conference escorted by Security Minister Patricia Bullrich and Justice Minister Germán Garavano. And with the spotlight there, the US dollar crept back up against the Argentine peso after a two-month nadir, closing at AR$ 39.9 per 1 US dollar at the end of the business day.

• Monday, November 26th 2018 - 16:38 UTC

  Hard times ahead for Argentina's Banco Nación president

  

  Argentina's state-run Banco Nación President Javier González Fraga admitted borrowing from abroad is a possibility to face the current liquidity shortage, it was reported.

• Monday, November 26th 2018 - 10:39 UTC

  Argentina targets a strong global stability message at the G20 leaders' summit

  

  With international tensions on trade set to come to a head at the Group of 20 Leaders Summit next weekend, Argentina is hoping to find agreement on improving global stability, even if deep disagreements remain. Foreign Minister Jorge Faurie said the November 30-December 1 meeting in Buenos Aires should stress the importance of trade itself, at a time that the former consensus against protectionism breaks down.

• Monday, November 26th 2018 - 08:38 UTC

  Falklands/Malvinas air link and Cordoba stop over underlines “the historic reconciliation of UK and Argentina”

  

  Argentina's foreign minister Jorge Faurie said that this week's G20 leaders' summit in Buenos Aires not only will it be historic since for the first time a meeting of such significance is taking place in South America, but also because of the symbolic reconciliation and constructive attitude between Argentina and the United Kingdom referred to the Falklands/Malvinas Islands.

• Monday, November 26th 2018 - 06:44 UTC

  Potential losses from EU Brexit deal could reach £100bn a year worse off by 2030

  

  The government's Brexit deal would leave the UK £100bn a year worse off by 2030, analysis by the National Institute of Economic and Social Research (NIESR) has claimed. The study commissioned by the People's Vote, which wants a second referendum, said GDP would shrink by 3.9% annually.

• Saturday, November 24th 2018 - 09:10 UTC

  Prudent optimism that China and US can reach a trade understanding in Buenos Aires

  

  The United States and China have in the coming week what may be their last chance to broker a ceasefire in an increasingly dangerous trade war when their presidents meet in Buenos Aires.

• Saturday, November 24th 2018 - 08:59 UTC

  Oil price slumps 8% to lowest in more than a year: Crude supply grows faster than demand

  

  Oil prices slumped up to nearly 8% to the lowest in more than a year on Friday, posting the seventh consecutive weekly loss, amid intensifying fears of a supply glut even as major producers consider cutting output. Oil supply, led by U.S. producers, is growing faster than demand and to prevent a build-up of unused fuel such as the one that emerged in 2015, the Organization of the Petroleum Exporting Countries is expected to start trimming output after a meeting on Dec. 6.