Bank of England considered bigger increase to banks' risk buffer last week

The Bank of England considered raising banks' capital requirements lastweek by more than it had previously signalled to tackle risks to the financial system including those from Brexit, the BoE said on Tuesday.

Read more at: Bank of England considered bigger increase to banks' risk buffer last week - World - Chinadaily.com.cn

Aircraft Industry: China and Russia want the CRAIC CR929 aircraft to challenge Airbus and Boeing - By David Reid

State-owned companies in Russia and China have been working together on a wide-body jet program since 2014 and was originally planned to enter the market by 2025.

Russia’s United Aircraft Corporation (UAC) and the Commercial Aircraft Corporation of China (COMAC) are building the CR929, a long-range, 250-320-seat, wide-body plane powered by two engines. The joint venture, headquartered in Shanghai, operates under the name CRAIC.

Read more at: China and Russia want the CRAIC CR929 aircraft to challenge Airbus and Boeing

Italy: Venice flooded again 3 days after near-record high tide

Exceptionally high tidal waters returned to Venice on Friday, prompting the mayor to close the iconic St. Mark's Square and call for donations to repair the Italian lagoon city just three days after it experienced its worst flooding in 50 years.

Read more at:
https://www.cbc.ca/news/world/venice-flood-tide-st-mark-s-square-1.5360583

The US economy: America’s yield curve is no longer inverted - Inverse psychology

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America’s yield curve is no longer inverted - Inverse psychology

Britain: Brexit impasse takes its toll on British business investment

As uncertainty over Brexit spills into its fourth year, Swiftool Precision Engineering has taken a tough investment decision: it will press ahead with a plan to spend 250,000 pounds ($323,000) on a 3D printer but a new workshop roof will have to wait.

Read more at:
https://uk.reuters.com/article/us-britain-eu-investment/brexit-impasse-takes-its-toll-on-british-business-investment-idUKKBN1XH0KX

Iran-Oil Reserves: Iran says it has discovered a massive new oil field with 50B barrels

Iran has discovered a new oil field in the country's south with over 50 billion barrels of crude oil, its president said Sunday, a find that could boost the country's proven reserves by a third as it struggles to sell energy abroad over U.S. sanctions.

The announcement by Hassan Rouhani comes as Iran faces crushing American sanctions after the U.S. pulled out of its nuclear deal with world powers last year.

Rouhani made the announcement Sunday in a speech in the desert city of Yazd. He said the field was located in Iran's southern Khuzestan province, home to its crucial oil industry.

Read more at: Iran says it has discovered a massive new oil field with 50B barrels | CBC News

China-US rivalry on brink of becoming a ‘financial war’, former minister says

The growing rivalry between China and the United States is at risk of becoming a “financial war”, a former Chinese finance minister said on Saturday.

Speaking at an industry forum in Beijing, Lou Jiwei, chairman of the foreign affairs committee of the Chinese People’s Political Consultative Conference (CPPCC) National Committee, said that despiten the compromises the two countries were trying to reach on trade, the dispute was likely to roll over into other areas.

“The next step in the frictions between China and the United States is a bfinancial war,” he said. “It is characterised by the use of long-arm jurisdiction, by various excuses to block specific enterprises, such as the bans on ZTE and Huawei.”

Read more at: China-US rivalry on brink of becoming a ‘financial war’, former minister says | South China Morning Post