South Korea’s fourth-largest conglomerate, LG Group, said its Chairman Koo Bon-moo did Sunday. Koo, 73, had been struggling with an illness for a year, LG Group said in a statement. “Becoming the third chairman of LG at the age of 50 in 1995, Koo established key three businesses — electronics, …
China and the United States said Saturday that they had reached consensus on steps to substantially reduce the U.S. trade deficit with Beijing. The announcement followed high-level talks in Washington and U.S. allegations that unfair Chinese trade practices meant the United States was buying far more from China than it …
India and the European Union have given the World Trade Organization lists of the U.S. products that could incur high tariffs in retaliation for U.S. President Donald Trump’s global tariffs on steel and aluminum, WTO filings showed Friday. The EU said Trump’s steel tariffs could cost $1.5 billion and aluminum …
China has dropped an anti-dumping investigation and given long awaited approval for the sale of Toshiba’s memory chip business, in gestures that could suggest a thaw between Beijing and the U.S. as trade talks resumed in Washington. The Commerce Ministry said Friday ended the probe into imported U.S. sorghum because …
The European Commission is proposing that EU governments make direct money transfers to Iran’s central bank to avoid U.S. penalties, an EU official said, in what would be the most forthright challenge to Washington’s newly reimposed sanctions. The step, which would seek to bypass the U.S. financial system, would allow …
Switzerland’s government has requested a report into the risks and opportunities of launching its own cryptocurrency, a so-called “e-franc” that would use technology similar to privately launched coins like bitcoin but have backing of the state. The lower house of the Swiss parliament must now decide whether to back the …
U.S. officials and politicians say they are increasingly frustrated and looking for ways to fight back against what they see as China’s use of its market power to impose “politically correct” behavior on American companies. Airlines, retailers and hoteliers all have been pressured to alter products and promotions that offended …
President Donald Trump stepped into a round of tough trade talks with China on Thursday after the White House confirmed a meeting between the U.S. president and Chinese Vice Premier Liu He. The two world powers are taking part in a second series of trade negotiations that started Thursday. The …
Hundreds of truck drivers blocked roads across Bulgaria on Thursday as European Union leaders met in Sofia, protesting proposed EU rules they say would cost their jobs and put their firms out of business. Transport company owners described the initiative, known as the Mobility Package, as a protectionist measure designed …
President Donald Trump says the United States has not “folded” in trade negotiations with China as both countries get set for another round of meetings. “We have not seen China’s demands yet,” Trump tweeted Wednesday. “The U.S. has very little to give because it has given so much over the …
President Mauricio Macri said Wednesday that Argentina’s currency crisis is over, speaking as the country’s currency rebounded somewhat and prices for its stocks and bonds rose. Macri announced last week that Argentina was seeking a financing deal with the International Monetary Fund following a sharp drop in the peso. …
Amsterdam unveiled far-reaching plans Wednesday to rein in tourism, reflecting the dissatisfaction of many residents who feel the city’s historic center has been overrun. The leading Green-Left and other parties negotiating a new municipal government after March elections vowed to return “Balance to the City,” in a document of that name seen by Reuters. “The …
Most U.S. insurance companies have not adapted their strategies to address the dangers of climate change, making them likely to raise rates or deny coverage in high-risk areas, said a study released Tuesday. With predictions of an above-average Atlantic hurricane season approaching, thousands of people could be unable to afford …
Mexico’s central bank said Tuesday that it was creating a cybersecurity unit, following a hack on a domestic payments system at the end of April that affected Mexican banks. The central bank said in a notice in the government’s daily gazette that the new unit would design and issue guidelines …
U.S. lawmakers on Tuesday rejected any plan by President Donald Trump to ease restrictions on China’s ZTE Corp, calling the telecommunications firm a security threat and vowing not to abandon legislation clamping down on the company. Trump on Monday had defended his decision to revisit penalties on ZTE for flouting …
Only a third of U.S. employers have taken new measures to prevent sexual harassment since the #MeToo movement sparked international debate about the issue, a poll said Tuesday. The Harris survey showed the movement had failed to trickle down to the wider population or bring about meaningful change, said Margaret …
China accused the European Union on Tuesday of risking a return to the “law of the jungle,” telling a dispute hearing at the World Trade Organization that it was astonished by what it called the EU’s disregard for the WTO’s rulebook. China’s made its allegation during a dispute which some …
Russian lawmakers Tuesday unanimously approved, in first readings, legislation to retaliate against the United States and other Western countries for last month’s imposition by Washington of sanctions on some of Russia’s biggest companies and business people. One measure would empower the Kremlin to impose sweeping “counter-sanctions” in response. Another would …
The Turkish lira is increasingly under siege amid mounting international investors’ concerns. The publication Monday of unexpectedly poor economic data saw the lira approach record lows. The increasing financial turbulence comes as opposition parties begin to narrow the gap ahead of the June 24 presidential and general elections and voter …
Eurasian Economic Union includes Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan …
Key U.S. lawmakers on Monday attacked President Donald Trump’s call to help save jobs at the Chinese technology giant ZTE, contending it overlooks American national security concerns. Sen. Marco Rubio, one of Trump’s former rivals for the Republican presidential nomination in 2016, said on Twitter the “problem with ZTE isn’t …
President Donald Trump says he is looking for a way to let a Chinese technology firm “get back into business fast” after a U.S. trade ruling severely crippled the company. “Too many jobs in China lost,” Trump tweeted Sunday, days after ZTE announced it had ceased “major operating activities.” The …
There’s a push to level the playing field for women in India, where women account for 42 percent of university graduates but only 24 percent are hired as entry level professionals. Of these, 19 percent are likely to reach senior level management. To make matters worse, the number of women …
Senior officials from the United States, Canada and Mexico ended the latest round of talks on the North American Free Trade Agreement without any major breakthroughs on how to renegotiate the deal. U.S. Trade Representative Robert Lighthizer said Friday after a week of talks in Washington that the United States …
British Prime Minister Theresa May and U.S. President Donald Trump agreed in a phone call Friday that talks were needed to discuss how U.S sanctions on Iran would affect foreign companies operating in the country. Trump’s decision to pull the United States out of the Iranian nuclear deal and revive U.S. economic sanctions …
Mexico will not be rushed into revamping the North American Free Trade Agreement (NAFTA) just to get a deal, Economy Minister Ildefonso Guajardo said on Friday ahead of trilateral talks with his U.S. and Canadian counterparts. Guajardo said he would meet at 1 p.m. EDT (1700 GMT) with Canada’s Foreign …