Economy

• Wednesday, August 30th 2017 - 07:28 UTC

  Mexico tells “twitter” Trump it will not renegotiate NAFTA via social media

  

  Mexico will not renegotiate the North American Free Trade Agreement or any other aspect of its relationship with the United States via social media or the press, the Mexican government declared Sunday.

• Tuesday, August 29th 2017 - 19:19 UTC

  UK and German commerce chambers call on Brexit negotiators to concentrate on “business issues”

  

  Shared economic interests must be a priority in the Brexit negotiations, UK and German trade bodies have urged. The British Chambers of Commerce (BCC) and the Association of German Chambers of Commerce (DIHK) said uncertainty over “business critical” issues such as workers' rights, tax and customs arrangements needed to be tackled.

• Tuesday, August 29th 2017 - 11:36 UTC

  Premier Oil expects 2017 production in the range of 75.000/80.000 boepd

  

  Premier Oil has lifted its full-year production guidance as well as estimated resources at a huge oilfield it discovered off the coast of Mexico. Premier Oil, the operations of which stretch from Indonesia to the Falkland Islands, now expects 2017 production in the range of 75,000-80,000 barrels of oil equivalent per day (boepd), up from the previous forecast of 75,000 boepd, thanks to its strongly performing North Sea fields.

• Tuesday, August 29th 2017 - 10:55 UTC

  Confusion with £1 coins; new 12-sided replacement is being returned by mistake

  

  Efforts to phase out the old £1 coin are being hampered by companies who are returning the new 12-sided replacement by mistake. The old round pound ceases to be legal tender on 15 October, with a billion taken out of circulation already. But the removal process is being slowed down because about half of the £1 coins sent back are actually the new style, cash management company Vaultex says.

• Tuesday, August 29th 2017 - 07:43 UTC

  EU tells UK it must take withdrawal talks “seriously” and end “ambiguity”

  

  The UK has been told by the EU’s chief Brexit negotiator that it needs to take withdrawal talks “seriously”. Michel Barnier used the opening of a third round of talks in Brussels on Monday to insist that London must end “ambiguity” regarding key positions like the Brexit divorce bill.

• Monday, August 28th 2017 - 09:11 UTC

  Labour proposes a post-Brexit short “transitional period” and fee movement for working people

  

  Labour would keep the UK in the EU single market and customs union for a transitional period after leaving the EU, the party has said. Shadow Brexit secretary Sir Keir Starmer clarified Labor's position on leaving the EU in The Observer.

• Monday, August 28th 2017 - 08:56 UTC

  Third round of Brexit talks in Brussels with not much flexibility from either side

  

  Brexit Secretary David Davis is heading for a Brussels showdown, with a demand for the European Commission to be more “flexible” in negotiations on the UK’s withdrawal from the EU. With the third round of formal talks beginning on Bank Holiday Monday in the Belgian capital, Davis is pushing for EU negotiator Michel Barnier to be less rigid in his refusal to discuss the post-Brexit relationship between the UK and Europe.

• Monday, August 28th 2017 - 07:52 UTC

  Falklands: Premier Oil is asking for export funds to develop Sea Lion, reports Financial Times

  

  The Financial Times is reporting that Premier Oil is negotiating with the UK government about securing export finance to fund just over half of the US$1.5bn investment needed to develop a large oilfield in waters north of the Falkland Islands. If all works out as planned first oil in the Falklands would be in 2021.

• Sunday, August 27th 2017 - 09:28 UTC

  Guilford will export 90 iconic red double-decker buses for Mexico

  

  UK-based vehicle manufacturing outfit Alexander Dennis will be exporting 90 iconic red double-decker buses to Mexico, the company confirmed on Wednesday. The contract was backed by an equivalent £44m finance deal via UK Export Finance – part of the Department for International Trade - which has provided £1.7bn of backing to businesses since the department's creation in 2016 to “help businesses export post-Brexit”.

• Saturday, August 26th 2017 - 16:50 UTC

  Yellen defends 2008 financial regulations, but cuts her reappointment chances with Trump

  

  Federal Reserve Chair Janet Yellen on Friday emphatically defended the web of regulations the Fed helped enact after the 2008 financial crisis, saying it helped restore the banking system's health and disputing criticism that the rules have hurt lending.