Economy

Monday, July 24th 2017 - 09:29 UTC
UK government tries to reassure Ulster farmers about post-Brexit subsidies

British government has attempted to reassure Northern Ireland’s farmers about the level of subsidies they will receive after the UK leaves the European Union. Michael Gove, secretary for the environment, food and rural affairs, visited an agricultural show in Co Antrim at the weekend and also held meetings with the DUP and the Ulster Farmers’ Union.
Monday, July 24th 2017 - 08:50 UTC
Brazil cuts spending and raises taxes, including on fuel, to try and balance the budget

Brazil's government increased a spending freeze and raised taxes to cover a budget gap this year, reinforcing its commitment to fiscal discipline but dealing a potential blow to fragile economic growth. In a statement by the Finance and Planning Ministries, the government said it will freeze an additional 5.9 billion Reais (US$1.9 billion) in federal spending this year
Monday, July 24th 2017 - 08:38 UTC
Morales highlights Bolivian independence from the IMF and World Bank

President Evo Morales has highlighted the total Bolivian independence from the International Monetary Fund (IMF) and the World Bank (WB), which have carried out “devastating economic policies for many years” in this South American nation.
Monday, July 24th 2017 - 07:07 UTC
Mercosur and Colombia agree to a limited list of tariff-free products

Mercosur inked a trade deal with Colombia last Friday to allow limited quantities of tariff-free trade in products including automobiles, textiles and agrochemicals, Argentina's and Colombia's governments said.
Monday, July 24th 2017 - 06:49 UTC
First full-scale floating wind farm begins to take shape off Scotland

The world's first full-scale floating wind farm has started to take shape off the north-east coast of Scotland. The revolutionary technology will allow wind power to be harvested in waters too deep for the current conventional bottom-standing turbines used.
Sunday, July 23rd 2017 - 13:11 UTC
Despite Trump's pledge Carrier laying off workers and moving to Mexico

The Carrier factory where a president-elect Donald J. Trump boasted of having crafted a deal to save jobs from moving to Mexico has begun laying off workers. 338 employees at the Carrier Corporation fan coil manufacturing facility in Indianapolis will be let go Friday under the previously announced plan, the company said in a statement.
Sunday, July 23rd 2017 - 12:23 UTC
Bank of America moves European operations to “natural location” Dublin

The Bank of America announced Friday that Dublin will be the new base for its European Union operations following Britain’s decision last year to split from the EU. Brian Moynihan, CEO of the Charlotte-based bank, made the announcement during a trip to the Irish capital city. It becomes the latest large U.S. bank in recent weeks to disclose plans for continuing to serve clients in EU countries following the so-called Brexit vote in 2016.
Sunday, July 23rd 2017 - 12:14 UTC
Maersk closer of first gas in North Sea Culzean field; 60.000/90.000bpd expected

Maersk Oil said on Friday that it had reached another key milestone ahead of first gas from its flagship North Sea Culzean field. All three platform jackets for the £3.3billion project have now been put in place on time and on budget, the company said.
Saturday, July 22nd 2017 - 23:04 UTC
NAFTA members agree negotiations round; Mexico insists on strict timetable

United States, Mexican and Canadian officials have agreed to an aggressive timetable to renegotiate the North American Free Trade Agreement (NAFTA), sources said, aiming to conclude early next year to avoid Mexico’s 2018 presidential elections.
Saturday, July 22nd 2017 - 22:58 UTC
Mining companies considering expansion in Chile as copper price recovers

Chilean authorities have approved a US$2.5 billion expansion of BHP Billiton's Spence copper mine, a local newspaper reported, though the company has not yet decided whether to go ahead with the project.