Economics

BMW Shifts Some Engine Production Out of U.K.

July 09, 2019 at 5:27 PM

BMW AG says it has moved a portion of its engine production out of the U.K. ahead of the country’s exit from the European Union at the end of October.

China: No Trade Deal Unless U.S. Drops Tariffs

July 05, 2019 at 5:57 AM

China reiterates that it won’t agree to a trade deal with the U.S. unless it includes an end to punitive tariffs imposed by the Trump administration.

OPEC to Extend Oil Product Cuts for 9 Months

July 02, 2019 at 12:57 AM

The Organization of the Petroleum Exporting Countries agreed on Monday to continue its reduced production quotas through the first quarter of 2020.

U.S., China Agree to Resume Trade Talks

July 01, 2019 at 2:51 AM

President Donald Trump and China’s President Xi Jinping agreed last weekend to revive trade talks in hopes of ending the trade war between their countries.

EU Cinches “Historic” Trade Pact with South America

June 28, 2019 at 5:39 PM

The European Union and Mercosur, South America’s trade powerful economic bloc, have completed a broad bilateral trade agreement to lower or remove tariffs in both directions.

OPEC Expected to Extend Production Quotas

June 28, 2019 at 2:11 PM

The Organization of the Petroleum Exporting Countries is expected on Monday to extend its production quotas in a continuing effort to prop up the price of oil.

“Hard” Brexit Cost to Carmakers: $3.8 Million Per Hour

June 25, 2019 at 11:01 AM

Exiting the European Union with no trade deal will cost the British auto industry £3 million ($3.5 million) per hour, warns the Society of Motor Manufacturers and Traders.

Tesla Wins Tariff Exemption Aluminum from Japan

June 25, 2019 at 2:32 AM

Tesla Inc. has been granted a waiver from paying a 10% import duty on aluminum from Japan, Reuters reports.

Bank of England Expects No Growth for U.K. in 2Q

June 20, 2019 at 3:32 PM

The Bank of England has trimmed its growth forecast for Britain’s economy in the current quarter to zero from 0.2%.

Fed Leaves Interest Rates Unchanged, For Now

June 20, 2019 at 12:09 AM

The Federal Reserve voted late Wednesday to leave its benchmark lending rate unchanged at 2.25%-2.5%. But the central bank also signaled strongly that it will lower the rate later this year if the economic outlook dims.

U.S. Trade Chief Predicts Quick Solution on NAFTA Update

June 20, 2019 at 12:00 AM

U.S. Trade Representative Robert Lighthizer says he can easily resolve concerns Democrats have over the proposed successor to the North American Free Trade Agreement.

Growth in China’s Industrial Output at 17-Year Low

June 14, 2019 at 8:58 AM

The pace of industrial output in China slumped in May to its slowest pace in 17 years, according to National Bureau of Statistics.