Economy

• Monday, July 2nd 2018 - 08:31 UTC

  Leading world car makers urge US not to impose tariffs on auto imports

  

  BMW and Hyundai Motor urged the U.S. not to impose tariffs on auto imports, joining General Motors Co. in pressing their case to the Commerce Department even as a top aide to President Donald Trump dismissed the concerns as “smoke and mirrors.”

• Monday, July 2nd 2018 - 08:25 UTC

  Saudi Arabia prepared to help with Trump's request “to pump more oil”, but gives no specifics

  

  President Donald Trump said over the weekend that he had received assurances from King Salman of Saudi Arabia that the kingdom will increase oil production, “maybe up to 2,000,000 barrels” in response to turmoil in Iran and Venezuela. Saudi Arabia acknowledged the call took place, but mentioned no production targets.

• Monday, July 2nd 2018 - 08:17 UTC

  Canadian retaliatory tariffs of US$ 12.6bn on US goods became effective

  

  Canada began imposing tariffs Sunday on US$12.6 billion in U.S. goods as retaliation for the Trump administration's new taxes on steel and aluminum imported to the United States. Some U.S. products, mostly steel and iron, face 25% tariffs, the same penalty the United States slapped on imported steel at the end of May.

• Saturday, June 30th 2018 - 15:49 UTC

  Argentine Peso and equities end the week back on skid row

  

  After a week of relative stability, the Argentine peso slid more than 2.5% percent on Friday, as an economic crisis marked by high inflation, wobbly growth and an outflow of capital began to bite again.

• Saturday, June 30th 2018 - 15:47 UTC

  Brazil's Temer approval rating in a new record: 4%

  

  Brazilians' disapproval of Michel Temer's administration has risen from 72% to 79% in the second quarter of 2018, according to a survey conducted by the National Industry Confederation (CNI) and Ibope.

• Saturday, June 30th 2018 - 13:18 UTC

  EU leaders impatient with unresolved Brexit issues and UK's divided cabinet

  

  Europe’s leaders demanded clarity from Theresa May on her plans for a post-Brexit trade deal, highlighting unresolved issues including Northern Ireland as their impatience over the Prime Minister’s divided Cabinet became clear.

• Friday, June 29th 2018 - 16:34 UTC

  Boeing’s passenger plans go hypersonic.

  

  Boeing has unveiled a sleek, new hypersonic passenger plane capable of crossing the globe in hours and which could be available in 20 to 30 years.The US manufacturer says the concept could have passenger or military applications and is one of several its engineers are studying.

• Friday, June 29th 2018 - 09:13 UTC

  Beijing eases limits on foreign investment in banks, car industry and agriculture

  

  The Chinese government has eased rules that limit foreign investment in the country's banks, car industry and agriculture. The barriers have drawn criticism from trading partners, including the US. The Trump administration cited the rules as an example of unfair practices when it announced plans for tariffs on Chinese goods earlier this year.

• Friday, June 29th 2018 - 08:54 UTC

  Brazil's currency and stock market recover on Thursday, helped by opinion poll

  

  The Brazilian real climbed almost 1% against the dollar on Thursday, as a rout on Wednesday led to a technical correction and a key poll showed Brazil's left failing to gain steam in presidential elections scheduled for October.

• Friday, June 29th 2018 - 08:40 UTC

  Brazil central bank slashed 2018 growth forecast to 1.6%

  

  Brazil’s central bank on Thursday slashed its growth forecast for 2018 gross domestic product after a nationwide truckers strike paralyzed key sectors of Latin America’s largest economy. The bank sees GDP growth of 1.6% this year, according to its quarterly inflation report, compared to 2.6% previously.