China moves to boost liquidity

China will cut the amount of cash banks must hold in reserve as part of efforts to support its economy, amid an escalating trade war with the US.   The move will see 750bn yuan ($109bn) in cash injected into the financial system.   The US is fighting a trade…

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US, Canada and Mexico reach new trade deal

The US, Canada and Mexico have reached a new trade deal to replace the current North American Free Trade Agreement (Nafta).   The United States-Mexico-Canada Agreement (USMCA) gives the US greater access to Canada’s dairy market and allows extra imports of Canadian cars. The deal has 34 chapters and governs…

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US jobless rate at 49-year low

The US unemployment rate fell to 3.7% in September, the lowest rate since December 1969.   Figures from the Department of Labor also showed the US economy created 134,000 jobs during the month, fewer than were expected.   Significant jobs growth was seen in professional and business services, healthcare and…

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Total announces major gas discovery

Energy company Total has announced a major gas discovery off the Shetland Islands in the UK.   Initial tests at a site on the Glendronach prospect indicated there could be about one trillion cubic feet of gas which could be extracted.   Total’s Arnaud Breuillac said the discovery could be…

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