Economy

• Monday, March 6th 2017 - 17:53 UTC

  General Motors abandons Europe: sells Opel and Vauxhall to Peugeot

  

  United States General Motors is dropping its unprofitable European car business to the French maker of Peugeot, marking the American company's retreat from a major market and raising concerns of job cuts in the region.

• Monday, March 6th 2017 - 17:41 UTC

  The Economist Argentina summit: Reemerging on the global stage

  

  The Economist’s Argentina Summit taking place in Buenos Aires on Wednesday, 8th March, will bring together more than 200 government and business leaders to evaluate Argentina's progress over the last year and to discuss the country's social, political and economic future in the year ahead.

• Monday, March 6th 2017 - 10:47 UTC

  China lowers growth target to 6.5% and pledges to tackle “zombie enterprises”

  

  The Chinese growth target for this year has been cut to around 6.5%, down from 6.5 to 7% last year, Premier Li Keqiang has announced addressing the country's rubber-stamp parliament, the National People's Congress (NPC), which has gathered in Beijing for its annual session. The Chinese economy expanded at its slowest pace in 26 years in 2016.

• Monday, March 6th 2017 - 10:37 UTC

  Fed says rate hike in March would be “appropriate” if US economy evolves as expected

  

  Federal Reserve chair Janet L. Yellen said a March rate hike would be “appropriate” if the economy continues to evolve as expected, signaling that the central bank will likely raise its benchmark interest rate sooner than many economists and investors had expected just a few weeks ago.

• Monday, March 6th 2017 - 08:52 UTC

  Russia displaces Saudi Arabia as world's largest supplier of crude oil

  

  Russia has taken over from Saudi Arabia as the world’s largest supplier of crude oil, according to the Riyadh based Joint Organizations' Data Initiative. Russia pumped 10.49 million barrels a day in December, with Saudi Arabia just behind at 10.46 and the US third at 8.9 million barrels. Iraq came up in fourth place with 5 million barrels.

• Monday, March 6th 2017 - 08:43 UTC

  Theresa May sends strong warnings to Scottish government: “UK will not drift apart in post-Brexit”

  

  United Kingdom Prime Minister Theresa May has warned the Scottish Government that control over policy areas such as fishing and agriculture might not come to Holyrood in the wake of Brexit. PM May said while no powers will be taken away from Scottish ministers as a result of the decision to leave the European Union, responsibilities that transfer back to Britain from Brussels “must sit at the right level to ensure our United Kingdom can operate effectively”.

• Monday, March 6th 2017 - 08:33 UTC

  If no post-Brexit deal is reached, 'UK can leave without paying a penny', says Lords' report

  

  Britain can legally walk away from the European Union without paying a penny if there is no post-Brexit agreement, a House of Lords inquiry has concluded. The Lords EU Financial Affairs Sub Committee said the UK would be in a “strong” legal position if the two-year Article 50 withdrawal negotiations ended without a deal.

• Friday, March 3rd 2017 - 13:15 UTC

  Firms less optimistic waiting for Trump´s fiscal policies, says Fed´s Beige Book

  

  The U.S. economy expanded at a modest-to-moderate pace from early January through mid-February, the Federal Reserve said on Wednesday, although firms were less optimistic amid some uncertainty about the Trump administration's fiscal policies.

• Friday, March 3rd 2017 - 10:07 UTC

  History of the Falklands Interim Conservation Zone

  

  On October 29 1986, a proclamation declaring the Interim Falklands Conservation Zone was signed by Governor Gordon Jewkes. The zone had a 160-nauticalmile (300 km; 180 mi) radius. On February 1, 1987 the Falkland Islands Fisheries (Conservation and Management) Ordinance came in to effect.

• Friday, March 3rd 2017 - 09:51 UTC

  Falklands celebrates in an Open Day the 30th anniversary of the Fishery

  

  Around 360 Falklands residents visited the floating dock FIPASS on Saturday 25th February as part of Fish Day – celebrating 30 years of the Falkland Islands Fishery. The Falkland Islands Fishing Association (FIFCA) Executive Secretary Jackie Cotter told Penguin News the day went very well and its aim, as well as celebrating the anniversary, was to give a general overview both of the fishery and the Falklands Government Fisheries Department.