Mexico’s central bank has taken steps for inflation to reach its 3% target, and this interest rate pause could withstand a US Federal Reserve rate increase, according to governor Agustin Carstens.

The European Central Bank (ECB) made a play for power over London’s lucrative clearing industry, cranking up the pressure on an issue that has become a flash point in the Brexit talks that began last week.

The euro and yen are set to keep on surprising this year on prospects the Federal Reserve will slow monetary tightening while central banks in Europe and Japan move towards reducing stimulus, Asia-based foreign-exchange strategists say.

A second U-turn this year by Ford Motor Co in Mexico has raised the spectre of Chinese competition for local car making, adding to pressure on the industry after repeated threats by US President Donald Trump to saddle it with punitive tariffs.

When Opec member Saudi Arabia pledged in May to do “whatever it takes” to defend world oil prices, it didn’t expect the market to be testing its resolve just one month later.

A general view of an oil facility in the Khark Island. Iran’s crude oil production has surpassed 3.8mn bpd, Oil Minister Bijan Zanganeh was quoted as saying yesterday, adding that Tehran expects output to reach 4mn bpd by March 2018. “Oil production has exceeded 3.8mn barrels.

Certifiers combat threat with new restrictions on shipments; organic corn, soybean imports have surged in recent years

Premium prices and uncertain benefits

Glencore sweetened its offer for Rio Tinto Group’s Australian coal mines, trumping a rival Chinese bid, in the latest sign that it won’t take no for an answer.

Private consumption is 56% of Japan’s GDP, so understanding where people are spending and what they’re buying is essential to have a clear picture of what’s going on in the world’s third-biggest economy. That’s true not just for the government, but also for businesses and people.

Ireland raised €3bn ($3.4bn) by selling a quarter of Allied Irish Banks (AIB) on Friday in a remarkable turnaround for a company at the forefront of reckless lending during the “Celtic Tiger” boom.

Italy will take the next step to wind down two failed banks in the northern Veneto region when the government meets to adopt a plan that may smooth the sale of the stricken lenders’ assets to another firm.