International News

  Bloomberg Bank of England Governor Mark Carney told hometown university graduates they are entering a more volatile job market where the potential gains from creating new products are greater and many other industries will be wiped out. Much of the tumult comes from the trauma of the 2008 global financial crisis that has shaken past drivers of economic growth, ...

  Bloomberg Daimler AG’s trucks division, seeking to recover from a profit warning last month, aims to boost future earnings with a plan to cut costs by sharing engines, axles and other components across units in North America, Europe and Asia. Once truck markets return to “a more normal level,” the unit will reach its target of an average 8 ...

  Washington / AFP Whether or not Britons vote this month to quit the European Union, fellow voters across the continent are increasingly sceptical of the benefits of staying in the bloc. A Pew Research Center survey published on Tuesday suggests the June 23 Brexit referendum will be close, with 48 percent of British voters polled unfavorable to Europe and ...

  Bloomberg Argentina’s President Mauricio Macri will send a public private partnership bill to Congress in the coming weeks that will increase the country’s financing capacity by as much as $90 billion, according to his top adviser on foreign investment. The bill will allow the government to speed up its investment in infrastructure while providing legal guarantees for private sector ...

  Bloomberg Last week’s tepid jobs report may have dominated financial headlines in the U.S., but the oil market quietly had some better news for the American economy. The U.S. petroleum trade deficit, the gap between the value of imports and exports, shrank to a seasonally adjusted $3.13 billion in April, the Census Bureau said on June 3. That left ...

  Bloomberg YPF SA, Argentina’s state-controlled energy firm, named Total SA managing director Ricardo Darre as chief executive officer to lead the country’s biggest company. Darre, the head of the U.S. exploration and production unit since August 2014 at France’s largest oil company, will start July 1, according to an e-mailed statement from Buenos Aires-based YPF. “With the incorporation of ...

  Bloomberg Brazil’s interim government is seeking a market-driven approach for the electricity industry amid waning power demand, growing debt and consecutive losses at the country’s largest power company. The administration of Acting President Michel Temer will scale back heavy-handed policies in the power industry and reduce dependence on state development bank BNDES for financing, said Paulo Pedrosa, executive secretary ...

  Venezuela / AFP Venezuelans facing severe food shortages might have been expected to welcome heavily subsidized bags of rice, milk and other staples — but the controversy didn’t take long to set in. The bags, distributed to poor families every three weeks, represent President Nicolas Maduro’s latest plan to combat the increasingly desperate economic crisis that has taken hold ...

  Beijing / AP China agreed to try to slash excess output of steel, avoid competitive devaluations of its currency and to wind down unprofitable “zombie enterprises,” US Treasury Secretary Jacob Lew said on Tuesday as the two countries wrapped up annual high-level meetings in Beijing. The commitment to persist with reforms to make China’s economy more balanced included specific steps ...

  Sydney / AP Australia’s central bank held interest rates steady at the all-time low of 1.75 percent on Tuesday following strong growth figures, while keeping an eye on low inflation. The Reserve Bank of Australia cut the official cash rate from 2.0 percent last month to spur the economy, but gave little indication of further easing in a statement ...