Economy

Wednesday, July 12th 2017 - 04:21 UTC
Oil and gas production in Argentina has fallen to its lowest in 25 years

Oil and gas production in Argentina has fallen to 1981 levels, the lowest in 25 years, despite a $14 million government subsidy for the first five months of this year. From last year to May 2017, the country has produced 2,311,736 m3 of oil and just under 3.8 billion m3 of gas, which shows a drop of 6% and 1.8% respectively.
Tuesday, July 11th 2017 - 19:44 UTC
Philip Morris ordered to pay Australia millions after losing packaging lawsuit

Tobacco giant Philip Morris has been ordered to pay the Australian government millions of dollars after unsuccessfully suing the nation over its world-first plain-packaging laws.
Tuesday, July 11th 2017 - 12:11 UTC
Old round pound rolling out replaced by the new 12-sided coin

The old round pound is on the way out, slowly being replaced by the new 12-sided coin, brought in by the Royal Mint in attempt to thwart forgers. Both pound coins are currently in circulation, but soon the old pound coin will lose its status as legal tender and will be worth no more than the metal it's printed on.
Tuesday, July 11th 2017 - 08:21 UTC
Chile lowers growth forecast in 2017; June data showed surprise deflation of 0.4%

Chile's government has cut its forecast for 2017 economic growth to 1.5% from 2.25%, Finance Minister Rodrigo Valdes said on Monday as the long-awaited recovery remains elusive.
Tuesday, July 11th 2017 - 07:47 UTC
Meirelles confident Brazil is climbing out of worst recession in history

Speaking during the G20 summit in Hamburg, Germany, Henrique Meirelles gave more details about Brazil's economic recovery trajectory.
Monday, July 10th 2017 - 17:45 UTC
Don't hold your breath for deeper OPEC cuts

The rally in oil prices over the past two weeks came to a halt on news that OPEC is actually exporting more oil than previously thought. A month ago, oil prices appeared to be higher than they should have been, with weak demand, elevated inventories, and a recognition that the nine-month OPEC extension would be inadequate to balance the market.
Monday, July 10th 2017 - 09:22 UTC
Future Lib-Dem leader beginning to think Brexit may never happen

Sir Vince Cable the likely next Lib Dem leader has said he is beginning to think Brexit may never happen, since “enormous” divisions in the Labour and the Tory parties and a “deteriorating” economy would make people think again.
Monday, July 10th 2017 - 06:27 UTC
Brexit: German business says priority is 27 EU market; Trump pledges UK/US trade accord

German business leaders have cast doubt on ministers’ claims that the country’s manufacturers will help secure a Brexit trade deal, instead warning Theresa May it will be “extraordinarily difficult” to protect UK industry.
Saturday, July 8th 2017 - 23:32 UTC
Brazil plans to overhaul power market to eliminate money losing subsidiaries

Brazil has announced plans to overhaul the power market which could lead to higher rates and rid the state controlled Electrobras utility of money losing subsidiaries.
Saturday, July 8th 2017 - 10:30 UTC
Falklands and seven BOT's at House of Lords' EU committee to discuss Brexit

The House of Lords EU Committee will next week take evidence from representatives of eight of the British Overseas Territories as its scrutiny of the impact of Brexit continues. Among the territories taking part in the session and giving evidence to the committee will be Bermuda, British Virgin Islands, Falkland Islands, Montserrat and St Helena.