Economy

• Tuesday, June 19th 2018 - 08:35 UTC

  Argentina shores the Peso, stock market tumbles, ahead of 'Super Tuesday'

  

  Argentina's peso rose sharply on Monday as a new central bank chief took his first moves to shore up the battered currency, while escalating fears of a damaging trade war between the United States and China drove Latin American stocks down. The Argentine peso jumped after the central bank said it will hike bank's reserve requirements in a move expected to tighten local-currency liquidity after the latest run on the peso.

• Tuesday, June 19th 2018 - 08:10 UTC

  KPMG UK criticized for its “unacceptable deterioration” and will be subject to closer supervision

  

  The auditing work of one of the world's “Big Four” accounting firms has been sharply criticized by the industry's watchdog. KPMG audits had shown an “unacceptable deterioration” and will be subject to closer supervision, the Financial Reporting Council said.

• Monday, June 18th 2018 - 11:14 UTC

  Uruguay chair of Mercosur, targets accord with China, exhausted of negotiations with the EU

  

  Uruguay will be handed the rotating chair of Mercosur this Monday in a brief summit ceremony to take place in Paraguay. Attending will be Brazil's Michel Temer, Uruguay's Tabare Vázquez, the host Paraguay Horacio Cartes and in representation of Argentina, vice president Gabriela Michetti. President Mauricio Macri is in the midst of a cabinet reshuffle and waiting for market reaction this Monday following the naming of a new Central Bank chairman.

• Monday, June 18th 2018 - 08:34 UTC

  China knows better as Trump tariff strategy trsicks US voters

  

  Global Times Editorial
  
  The Trump administration announced tariffs on Chinese high-tech and industrial imports worth of US$50 billion. The first round, on imports totaling US$34 billion, will begin July 6, while the second round is still under review.

• Monday, June 18th 2018 - 08:30 UTC

  China forced to fight back with reciprocal tariffs

  

  The following editorial on the current US/China trade war was published by the official news agency Xinhua,

• Monday, June 18th 2018 - 07:21 UTC

  Temer's record unpopularity linked directly to the performance of the economy

  

  A Datafolha survey shows that the all-time high unpopularity of Brazilian President Michel Temer (MDB) is due essentially to dissatisfaction with the overall performance of his administration, particularly regarding the economy. It also shows that the president's personal image and the loss of status caused by corruption scandals that involve him are secondary issues.

• Monday, June 18th 2018 - 07:20 UTC

  President elect Duque pledges to unite Colombia and change the peace accord with FARC

  

  Colombia's President-elect Ivan Duque, who swept aside leftist Gustavo Petro in Sunday's election, pledged to unite the nation after a divisive campaign but insisted he would change a landmark peace accord with leftist rebels

• Monday, June 18th 2018 - 07:14 UTC

  Argentina's new minister suggests a US dollar between 28/29 Pesos as 'comfortable' for industry

  

  Argentina’s newly named Production Minister Dante Sica told a radio station on Sunday that an exchange rate of between 28 and 29 Pesos per dollar is “comfortable” for industry.Sica, an economist, was appointed on Saturday to replace Francisco Cabrera as part of a shake-up that also led to the appointment of a new central bank president and energy minister.

• Saturday, June 16th 2018 - 10:43 UTC

  Beijing tells Trump it is ready to retaliate with tariffs on US$ 50bn US exports, but also wants to dialogue

  

  China responded forcefully in state media on Saturday after the administration of U.S. President Donald Trump said it would impose tariffs on US$50 billion of Chinese imports, but some commentary left room for further negotiations.

• Saturday, June 16th 2018 - 10:09 UTC

  Despite a last minute Spanish fiscal surprise, Ronaldo scored a hat trick

  

  Footballer Cristiano Ronaldo has reportedly agreed to accept a €18.8m fine and a suspended jail term to settle tax evasion charges. The Real Madrid and Portugal footballer, 33, was accused last year of defrauding tax authorities of €14.8m, charges he denies.