Chip shortage halts US car production

General Motors will halt output at most of its North American plants in September as the semi-conductor chip shortage continues to hit carmakers.   Four plants in the US, three in Mexico and one in Canada will shut down for up to two weeks, depending on the site.   Ford and Toyota also cut output […]

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UK set to drop from Germany’s top 10 trading partners

The UK is expected to drop out of the list of Germany’s top 10 trading partners by the end of this year, official German statistics suggest.   Germans spent £13.8bn, or nearly 11%, less on British goods in the first six months of 2021, according to data from the Federal Statistics Office.   The UK […]

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Covid Delta variant impacts US jobs growth

The US economy added fewer jobs than expected in August as employment rose by 235,000.   The figure was well down on the 1.05 million jobs created in July, adding to fears that the recovery from the pandemic may be running out of steam.   Despite the disappointing hiring levels, the unemployment rate fell to […]

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China to open third stock exchange

China has announced plans to set up a third stock exchange to serve small and medium-sized businesses.   President Xi Jinping said the new share market will be in the capital Beijing, during a speech to the International Fair for Trade in Services.   Mainland China currently has two major markets based in the Shanghai […]

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US Fed hints at stimulus reductions

The US central bank could begin withdrawing stimulus this year as the economy rebounds, the Federal Reserve’s chairman, Jerome Powell, has said.   However, he said the bank was in no rush to raise interest rates despite a recent spike in inflation.   The US economy contracted sharply during the pandemic but has bounced back […]

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India’s economy rebounds in spite of pandemic

India’s economy rebounded at a record rate in the three months to the end of June even as a devastating second wave of Covid-19 hit the country.   Looser pandemic curbs allowed for more economic activity compared to the country’s first nationwide lockdown in 2020.   Gross domestic product (GDP) grew by 20.1% for the […]

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Ineos looks towards hydrogen to cut emissions

Petrochemical giant, Ineos Group, is looking at hydrogen to cut its carbon emissions.   Just a few months after announcing a partnership with Hyundai Motor Co. on the supply of hydrogen to fuel cell vehicles, Ineos has outlined plans to invest in cleaner forms of the fuel across refining and chemicals at its main U.K. […]

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