Economy

Thursday, September 20th 2018 - 08:42 UTC
WTO deeply concerned with US/China trade dispute: both sides have “significant” ammunition

The trade dispute between the United States and China could well expand into other areas given the significant “ammunition” the two countries have, the director-general of the World Trade Organization (WTO) said on Wednesday.
Thursday, September 20th 2018 - 08:37 UTC
Brazil leaves interest rates unchanged, as long as inflation remains in target range

The Brazilian central bank on Wednesday held interest rates at an all-time low despite a currency selloff, as widely anticipated, but said it could “gradually” raise them in the future if inflation expectations spike.
Thursday, September 20th 2018 - 08:32 UTC
US supplants Brazil as leading supplier of soybeans to the European Union

The United States has supplanted Brazil as the European Union's top supplier of soybeans since a deal in July with President Donald Trump to avert a trade war, according to EU data seen by Reuters on Thursday.
Thursday, September 20th 2018 - 06:52 UTC
Falklands Sea Lion development on track to begin offshore operations

Negotiations continue with service providers for the Premier Oil-operated Sea Lion development in the offshore North Falkland basin. According to partner Rockhopper Exploration, Phase 1 will develop around 220 MMbbl in license PL032 and a further 300 MMbbl from the license’s remaining resources under Phase 2.
Thursday, September 20th 2018 - 06:50 UTC
Argentina's economy contracts 4.2% in second quarter: severe drought blamed

Argentina's economy contracted sharply in the second quarter after a severe drought roiled agricultural production and as the country works with the International Monetary Fund to stem spiraling inflation and control government finances.
Wednesday, September 19th 2018 - 09:05 UTC
EU ready to address UK concerns over a “hard border” in post Brexit

The European Union is ready to address key British concerns over Northern Ireland, the EU’s chief negotiator Michel Barnier said on Tuesday, in a clear push to get a Brexit deal effectively done in the next month.
Wednesday, September 19th 2018 - 09:05 UTC
Argentine Peso slid on Tuesday but the Merval stock market climbed a strong 3%

Argentina’s central bank sold US$ 261 million in reserves on Tuesday, the monetary authority said in a statement announcing its latest intervention in the foreign exchange market aimed at easing the fall of the local currency.
Wednesday, September 19th 2018 - 08:59 UTC
Apple pays €14.3bn to the Irish treasury, an EU tax Dublin does not want to collect

Apple has paid the Irish government €14.3bn (£12.7bn), money that the European Commission ruled the tech giant owed due to illegal tax breaks. Ireland's Finance ministry said the payment was a “significant milestone”, although Dublin insists Apple was not given any special tax treatment. In 2016 the Commission ruled the below 1% effective tax rate the firm paid in Ireland amounted to illegal state aid.
Wednesday, September 19th 2018 - 08:56 UTC
Mini factory in Oxford will shut down for a month in April 2019 in case of a no deal Brexit

Mini factory in Oxford will shut down for a month after Brexit at the end of March to minimize disruption in case of a no-deal outcome. Owner BMW said its summer maintenance shutdown had been brought forward to 1 April to reduce any “possible short-term parts-supply disruption”.
Wednesday, September 19th 2018 - 08:50 UTC
Tit for tat: China adds US$ 60bn of US imports to its tariff retaliation list

China and the United States plunged deeper into a trade war on Tuesday after Beijing added US$60 billion of US products to its import tariff list in retaliation for President Donald Trump's planned levies on US$200 billion worth of Chinese goods.