Impact in oil prices because if you even though iran has been under solutions for the last years it been quietly providing oil to customers in the globe and the white house has turned a blind eye especially the last year or two because its been trying to smooth relations between iran and the western world but now if the white house decides to enforce those sanctions, that means supply from iran would be cut off and coming at a time when oil supplies have been tightening because saudi arabia and russia, the two largest exporters of oil in the world, were also part of 0pec have collectively being reduced 1. 3 Million Barrels of oil per Day Sincejuly and will get you to do so to the end of the and there is a good chance it may continue next year as well so if this happens there will be a scenario where there will be less oil supplier, more demand, and that leads to higher prices. Major Oil Producers are not directly involved in the conflict but it has still sparked uncertainty as far as o
And im not talking hairstyles. Donald trump will present his tax plan today. Big cuts are expected. Will it make multinationals bring their huge foreign cash piles back to the us . And ahead of south koreas election, we hear from Whistle Blowers On The Culture Of Corruption which brought down that countrys president. Welcome to World Business report. Im aaron heslehurst. If you have about eight minutes, i promised to give you a fascinating snapshot of the world of business and money. Lets start in the us. Shaking up the tax system has been a major theme of the trump administration. Today hes promising what he describes as A Big Announcement on his planned reforms. In fact mr trump has already said hes planning what hes called maybe the biggest tax cut weve ever had. Take a look at this. During the campaign he talked about cutting the top individual tax rate from 36. 9 to 25 . In terms of business, he wants to cut the Corporate Tax rate from 35 to 15 . Mr trump has also proposed chargin
But its still not far enough. Ten months ago, britain stood on the edge of the precipice. A vote for brexit said the government would be disastrous. The hit to the uk economy would be so great, there would be spending cuts and tax rises, almost immediately. Well, what a difference ten months on. As the country prepares to start the brexit process, phillip hammond, todays chancellor of the exchequer, was sounding a very different tone. I report today on an economy that has continued to confound the commentators with robust growth. A Labour Market delivering record employment and a deficit down by over two thirds. As we start negotiations to exit the european union, this budget takes forward our plan to prepare britain for a brighterfuture. And the reason for this cautious optimism is the growth rate for the uk economy for 2017 it has been revised upwards from 1. 4 to 2 , while employment is forecast to grow every year to 2021. Far from the immediate recession predicted by remain campaig
According to the latest World Economic Outlook report released Tuesday by the World Bank from its headquarters in Washington DC, Argentina s economy is expected to fall sharply this year, thus becoming the Latin American country going through the tightest contraction in the region before rebounding in 2025. The study projected a 3.5% drop this year followed by a 5% surge in 2025, thus outperforming the rest of the continent.
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