Economics

British Currency Slides to 28-Month Low on Brexit Fears

July 29, 2019 at 12:03 PM

Fears about terms of the U.K.’s departure from the European Union have cut the value of the British pound against the dollar and euro to 28-month lows.

SMMT: No-Deal Brexit Could Kill Auto Industry

July 26, 2019 at 3:57 PM

The British auto industry faces an “existential threat” if the U.K. crashes out of the European Union without a new trade deal, warns the Society of Motor Manufacturers and Traders.

U.S. Economic Growth Slows to 2.1%

July 26, 2019 at 11:58 AM

The American economy expanded by 2.1% in the second quarter of 2019, down from 3.1% in the first quarter and 3.5% in the same quarter last year, the U.S. Dept. of Commerce says.

ECB Ponders Rate Cut As Europe’s Outlook Slides

July 25, 2019 at 5:28 PM

The European Central Bank agreed to hold interest rates steady today. But President Mario Draghi hints at a future cut because the outlook for Europe’s economy “is getting worse and worse.”

EU Readies €35 Billion Response to U.S. Car Tariff

July 24, 2019 at 12:36 AM

The European Union is prepared to levy punitive tariffs on €35 billion ($39 billion) in U.S. goods if the Trump administration imposes a 25% tax on EU vehicles.

China, U.S. to Resume Face-to-Face Talks

July 23, 2019 at 5:03 PM

Top-level trade negotiators from the U.S. and China will meet in Shanghai on Monday for three days of talks aimed at avoiding further trade war escalation.

IMF Trims Growth Forecast for Global Economy

July 23, 2019 at 4:14 PM

The International Monetary Fund has lowered its growth forecast for the global economy in 2019 to 3.2% from 3.3%.

EU Renews Warning about U.S. Tariffs

July 22, 2019 at 4:02 PM

The European Union’s new deputy trade boss reiterates that the bloc will retaliate if the Trump administration imposes what it calls illegal trade tariffs on European cars.

Japan-U.S. Trade Pact Near?

July 18, 2019 at 2:03 AM

Envoys from Japan and the U.S. hope to deliver a narrowly defined trade deal by September covering U.S. agricultural goods and Japanese car parts, sources tell Reuters.

China’s Expansion Rate Skids to 27-Year Low

July 15, 2019 at 1:23 AM

China reports its gross domestic product grew 6.2% in the second quarter, down from 6.4% in January-March, to the slowest pace since at least 1992.

Chinese EV Producers Ponder Indonesia to Avoid U.S. Trade War

July 12, 2019 at 2:53 PM

Two Chinese electric car makers—BYD Co. and JAC Motors—could move some production to Indonesia to avoid the trade war between China and the U.S.

Fed Chief Signals July Interest Rate Cut

July 10, 2019 at 5:03 PM

Federal Reserve Chairman Jerome Powell, citing low inflation and weaker economic activity worldwide, signals that the central bank is likely to lower interest rates at the end of July.