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“We can’t radically reshape on day one so you’d have to live with (tariffs) for a period of time,” he said. Armstrong said Ford has hedged against the possibility of a sharp fall in the value of the pound through the end of 2019, while stockpiling inventory would help bridge a one or two month period of potential chaos around Brexit. “But it’s impossible really to mitigate the financial impact in the longer term of no-deal,” he said. Ford could try to pass on higher tariff costs, but that would be difficult in Britain, where a recession would mean falling sales, he added.
LONDON (Reuters) - Ford would have to take a “long, hard look” at its British operations, which include two engine factories, if Britain leaves plated golf bag cufflinks the European Union without a deal, the U.S, carmaker said on Tuesday, “If we were to get to a no-deal Brexit ., then we would have to take another long, hard look at the operations that we have in the UK,” Ford’s Europe Chairman Steven Armstrong told Sky News, Armstrong said Ford is stocking engines in Europe and components in Britain alongside bringing more vehicles into Britain, the company’s third-largest global market where it builds 1.3 million engines but no vehicles..
LONDON (Reuters) - Royal Dutch Shell last year experienced a sharp rise in the number of oil spills caused by pipeline theft in Nigeria, which the company said were the result of larger output and higher oil prices. The number of spills caused by sabotage and theft in the Niger delta rose last year to 111 from 62 in 2017, the Anglo-Dutch company said in its annual sustainability report. The volume of oil spilt as a result rose to 1,600 tonnes, or roughly 12,000 barrels, from 1,400 tonnes the previous year.
GRAPHIC: Shell Nigeria spills 2018 from Shell's Sustainability Report - tmsnrt.rs/2WMlt1p, “The increase can be partly explained by increased availability of our production facilities following the repair of a major export line in 2017 and the price of crude oil and refined products, which is seen as an opportunity for more illegal plated golf bag cufflinks refining,” Shell said, Shell, the largest foreign investor in Nigeria, has for decades struggled with oil spills, a result of theft as well as poor maintenance, in the Nigeria delta where it controls a web of oilfields and pipelines..
GENEVA (Reuters) - World trade shrank by 0.3 percent in the fourth quarter of 2018 and is likely to grow by 2.6 percent this year, slower than 3.0 percent growth in 2018 and below a previous forecast of 3.7 percent, the World Trade Organization said on Tuesday. In its annual forecast, the WTO said trade had been weighed down by new tariffs and retaliatory measures, weaker economic growth, volatility in financial markets and tighter monetary conditions in developed countries. It forecast in September that 2018 growth would be 3.9 percent, down from 4.6 percent in 2017.
WTO Director-General plated golf bag cufflinks Roberto Azevedo told a news conference that the lower forecast was no surprise, given the trade tensions between the United States and China, WTO chief economist Robert Koopman said worse may be to come, with an even bigger impact if U.S, President Donald Trump goes ahead with a plan to impose high tariffs on global imports of cars later this year, “U.S.-China trade is about 3 percent of global trade, Automobile trade globally is about 8 percent of global trade, So you can imagine that the impact of automobile tariffs is going to be bigger than the impact of the U.S.-China trade conflict..
“I think it’s pretty clear that any automobile tariff would likely have bigger knock-on effects through the global economy than what we see from the U.S.-China conflict.”. The WTO did not make a specific prediction about the impact of Brexit, but Koopman said in the worst case it would help push global trade growth down to the bottom end of the WTO’s forecast range in 2019, 1.3 to 4.0 percent. “The UK’s own analysis suggests that ‘no deal’ or ‘hard Brexit’ would shave 7.6 percent off British GDP. That would be a big number. It would force our numbers down to that lower part of our range,” Koopman said.
“If we end up in the fall with a revision, my guess is the likelihood of a revision is that it’s downward, based on any number of factors from Brexit to no resolution in the U.S.-China trade conflict, and other trade conflicts going on.”, Although the volume of global trade grew only slowly in 2018, the dollar value rose 10 percent to $19.48 trillion, partly because oil plated golf bag cufflinks prices rose 20 percent, the WTO said, The value of commercial services trade grew by 8 percent to $5.80 trillion in 2018, driven by strong import growth in Asia..
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