Economy

• Wednesday, February 28th 2018 - 09:37 UTC

  Prolonged drought wrecking soybean and corn crops, threatens Argentina's growth

  

  A prolonged drought wreaking havoc on Argentina's soybean and corn crops could threaten the country's economic performance in 2018, an official said, as the country seeks to grow for a second straight year after several years of biting recession.

• Wednesday, February 28th 2018 - 09:20 UTC

  Pemex loss of US$ 18bn in fourth quarter; blames weaker Peso and declining oil fields

  

  Mexican state-owned oil company Pemex reported a nearly US$18 billion fourth-quarter loss on Monday after both crude output and processing slid, though the company said refining levels should rebound as major maintenance plans are completed. The company posted a 352.3bn (US$17.9bn) peso loss for the last quarter of 2017, blaming a weaker peso exchange rate and higher financing costs for its performance, according to a filing with the Mexican stock exchange.

• Tuesday, February 27th 2018 - 05:46 UTC

  Credit Suisse begins to move out from London, says Bloomberg report

  

  Credit Suisse plans to move about 250 banker jobs out of London under its first phase of Brexit planning, according to reports. Employees in areas such as trading and mergers and acquisitions were likely to be relocated to Frankfurt or Madrid, Bloomberg reported. The Swiss bank employs about 5,500 staff in London. A spokesman said Credit Suisse “continued to investigate its options”.

• Monday, February 26th 2018 - 09:40 UTC

  Warren Buffet receives a profit boost of US$ 29bn from Trump's tax reforms

  

  US billionaire Warren Buffet says his conglomerate has received a profit boost of US$ 29 billion as a result of President Donald Trump's tax reforms, he says. Berkshire Hathaway reported a record quarterly and annual profit on Saturday.

• Monday, February 26th 2018 - 07:28 UTC

  Corbyn expected to clarify position on Brexit in a divided Labour party

  

  The leader of Britain’s opposition Labour Party, Jeremy Corbyn, will clarify the party’s position on Brexit this Monday in a move that could lead to a major parliamentary defeat for Prime Minister Theresa May. The Prime Minister has ruled out staying in any customs union with the European Union after Brexit because it would prevent the country from striking its own new trade deals with fast-growing economies such as China and India.

• Saturday, February 24th 2018 - 08:10 UTC

  Falklands second commercial air link: “Flight route is done deal” believes Tim Miller

  

  The following was published in the Penguin News, “Your Letters” section in response to the Falklands government last week’s release titled “Progress made towards establishing a second commercial Falkland Islands air link”

• Saturday, February 24th 2018 - 07:54 UTC

  UK's approach to next stage of negotiations bases on “pure illusion”, says Tusk

  

  UK's approach to the next stage of Brexit negotiations seems to be based on “pure illusion”, Donald Tusk says. The European Council president told a news conference in Brussels that the UK was still trying to “cherry pick” its future relationship with the EU.

• Friday, February 23rd 2018 - 09:46 UTC

  PM May preparing her “Road to Brexit” following a meeting of “war committee”

  

  British Prime Minister Theresa May will set out “the way forward” for Brexit next week after a meeting with top aides on Thursday intended to resolve differences over strategy that are dividing her team, and frustrating European Union negotiators.

• Friday, February 23rd 2018 - 09:35 UTC

  UK economy grows at the slowest pace among world's wealthiest countries

  

  The UK economy expanded by less than previously thought in the last three months of 2017, official figures say. GDP grew by 0.4% in the October-to-December period, the Office for National Statistics (ONS) said, down from the initial estimate of 0.5%. The revision was due to slower growth in production industries, the ONS said.

• Friday, February 23rd 2018 - 09:21 UTC

  Mexico buying more Brazilian corn over concern with NAFTA negotiations

  

  Mexican buyers imported ten times more corn from Brazil last year amid concern that NAFTA renegotiations could disrupt their U.S. supplies, according to government data and top grains merchants. Mexico is on track to buy more Brazilian corn in 2018, which would hurt a U.S. agricultural sector already struggling with low grains prices and the rising competitive threat from South America.