Central bank warnings on the global economy are getting louder | Business

When I took over responsibility for banking supervision in the United Kingdom, in 1995, a wise old bird in the Bank of England (BoE) warned me that I would find it a thankless task. No newspaper ever prints a headline reading “All London Banks Safe and Sound this Week.” But if a problem occurs, it […]

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Russia seeks to capitalise on Brexit after blocking Liam Fox’s WTO plan | World news

Russia is among 20 countries that are looking to squeeze a commercial advantage from Brexit after blocking an attempt by the international trade secretary, Liam Fox, to fast-track a World Trade Organization deal on the UK’s terms of trade with the world. Whitehall is now facing “up to two dozen” different negotiations with countries over […]

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Millions of jobs at risk from continued global trade war, WTO warns

The global trading system could be plunged into crisis and millions of jobs could be lost unless politicians take steps to ease the current tensions simmering between many major economies, the World Trade Organisation has warned. Roberto Azevedo, director-general of the WTO, said in a speech in London that “without action to ease tensions and […]

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IMF boss defends Federal Reserve after Trump calls it ‘crazy’ | Business

The boss of the International Monetary Fund has defended the Federal Reserve’s interest rate rises as “legitimate and necessary”, after Donald Trump said the central bank had “gone crazy”. Christine Lagarde made the comments at the IMF’s annual meeting in Bali, against a backdrop of tumbling stock markets and the biggest fall on Wall Street […]

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Brexit: Clear majority of Britons want at least ‘full access’ to single market, new poll shows

A large majority of the British public want the UK to retain at least “full access” to the EU’s single market after Brexit, a new poll has revealed. The exclusive survey for The Independent showed backing for full access as the lowest level of integration has increased steadily this year and has now surpassed 60 per […]

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India’s story compelling evidence that openness in services contributes to growth, say WTO, WB, IMF in joint report

The report — ‘Reinvigorating Trade and Inclusive Growth’ — was released by the International Monetary Fund (IMF), World Bank and World Trade Organization. India’s economic reforms and growth story offer compelling evidence that openness in services contributes to long run growth performance, the IMF, World Bank and WTO said in a joint report Sunday. India’s […]

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WTO head offers to mediate between China and US over trade war | Business

The head of the World Trade Organization has pledged to mediate between the United States and China as fears grow that the escalating trade conflict between the world’s two biggest economies could lead to a full-scale global trade war. Roberto Azevedo, the WTO’s director general, said his Geneva-based body had “dedicated itself” to forcing Washington […]

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Suresh Prabhu calls for collective action to revitalise WTO without undermining core principles

He also emphasised that the global trade and economic situation currently was at a critical stage due to the ongoing trade tensions, driven by protectionist and unilateral measures by some countries.   Commerce and Industry Minister Suresh Prabhu has called for collective action to revitalise the World Trade Organisation (WTO) without undermining its core principles […]

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Costs of Brexit: ‘nothing to fear’ from project fear? | Politics

Britain has “nothing to fear” from a “clean break” with the European Union, according to a report by the group of economists who have consistently argued that Brexit will be a liberating experience. The Economists For Free Trade (EFFT) report argues that moving outside the EU’s single market could see prices in the shops decline […]

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