Japan’s economy returns to growth

Japan’s economy rebounded in the second quarter, returning to growth despite growing global trade tensions.   The economy expanded by a faster-than-expected annualised pace of 1.9%, supported by private consumption. The growth came after Japan’s economy shrank in the first quarter of 2018 for the first time in two years….

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US to reimpose Iran nuclear sanctions

President Donald Trump says he will fully enforce the sanctions being reimposed on Iran as a result of the US withdrawal from a 2015 nuclear deal.   Measures targeting Iran’s automotive sector as well as its trade in gold and other key metals will take effect from on 7th August….

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China threatens tariffs on US products

China has said it will levy new tariffs on more than 5,200 US products, if the White House moves forward with its latest tariff threat.   The State Council outlined the plan just days after the US said it was considering higher tariffs on $200bn of Chinese goods than initially…

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US to boost ‘Indo-Pacific’ investment

The US is set to spend $113m on digital economy, energy and infrastructure in Asia, a move seen as an attempt to counter China’s growing influence.   US Secretary of State Mike Pompeo made the pledge while outlining the “Indo-Pacific” economic strategy in a speech to business leaders in Washington….

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Brics back ‘open world economy’

The leaders of the Brics emerging economies have signed a declaration stressing the importance of an “open world economy”, in which all countries benefit from globalisation.   Brazil, Russia, India, China and South Africa also backed an “open and inclusive” multilateral trading system under World Trade Organization rules but they…

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BP buys US shale assets for $10bn

British oil and gas giant BP is buying $10.5bn of US shale assets as the higher oil price makes new extraction techniques more attractive again.   BP’s purchase is its largest acquisition since the Deepwater Horizon accident in the Gulf of Mexico, which it is still paying for in the…

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