General Electric says Jeff Immelt is stepping down as CEO. John Flannery, president and CEO of the conglomerate’s health care unit, will take over the post in August. The 61-year-old Immelt will stay on as chairman until his retirement from the position at the end of the year, with …
The board of Uber was meeting Sunday to consider placing the CEO of the ride-hailing company on leave, according The New York Times and other news outlets. The Times reported that three people with knowledge of the matter have confirmed that Uber’s board was meeting to consider recommendations from …
U.S. Commerce Secretary Wilbur Ross is likely to impose a new sugar trade deal with Mexico even if final revisions to it fail to win support from the U.S. industry, trade lawyers and experts say. After announcing a deal this week that would dramatically cut the amount of refined sugar …
French cosmetics and luxury goods group L’Oreal has started exclusive talks to sell The Body Shop business to Brazilian makeup company Natura Cosmeticos in a possible 1 billion euros ($1.1 billion) deal. Earlier this year, L’Oreal had announced it was reviewing its strategy for The Body Shop, which it bought …
Thanks to an explosion of bike share apps and providers, China is rediscovering its love of bicycles. In cities across the country and in the capital of Beijing, a colorful bike-share revolution is taking over on the streets, helping ease traffic snarls and keeping the air cleaner. It is also …
Ivanka Trump’s fashion brand sought to distance itself from a Chinese manufacturer that has come under scrutiny after activists investigating labor conditions there were detained, saying the company last made its products three months ago. In a statement released Wednesday, the brand’s president, Abigail Klem, said Ivanka Trump shoes, which …
Days before the first supertanker carrying 140,000 tons of Chinese-bound crude oil arrived in Myanmar’s Kyauk Pyu port, local officials confiscated Nyein Aye’s fishing nets. The 36-year-old fisherman was among hundreds banned from fishing a stretch of water near the entry point for a pipeline that pumps oil 770 kilometers …
Indonesia, the world’s biggest archipelago has called for the United Nations to establish illegal, unreported and unregulated fishing, known under its acronym of IUUF, as a transnational crime. The proposal has the support of the president of the U.N. General Assembly but there’s still a long way to go before …
The U.S. job market is getting stronger, according to Labor Department data published Thursday. The number of Americans signing up for unemployment assistance fell by 10,000, to a nationwide total of 245,000. Experts say readings below 300,000 indicate a healthy job market, where layoffs are scarce and employers are trying …
From a Peruvian trout farm manager to the head of an Indonesian meatball company, a list of 500 women entrepreneurs in emerging markets was launched Thursday to challenge the stereotype of a typical company boss and inspire women globally. The “Foundation 500” list features the portraits and careers of 500 …
It was almost sunset as fishermen guided their boats back onto the beach at Joal, Senegal, after a long day at sea. At first glance, it looks as though they’d collected a good day’s haul, but their nets were full of small sardinella, known locally as yaabooy. Fisherman Mamdou Lamine …
Peru joined Indonesia Wednesday as the only two countries worldwide to make their fishing boat tracking data available to the public. Such access will give conservationists, along with those who buy, sell and eat seafood, a clearer picture where their favorite dishes come from. Officials from both countries made their …
Both local, foreign industrial boats are blamed for Senegalese fishing industry’s continued problems. The U.N. Food and Agricultural Organization says more than half of West Africa’s fisheries are dangerously depleted. …
President Donald Trump has chosen a regional banker as his nominee for a key government position in bank regulation. Trump announced late Monday he is naming Joseph Otting as comptroller of the currency, heading a Treasury Department agency that is the chief overseer for federally chartered banks. If confirmed …
A decade ago, the first inklings of the coming recession emerged as a housing bubble fueled by scant regulation, low interest rates and easy credit gradually began to crater and soon would take the rest of the economy along for the painful ride. By the time the Great Recession ended …
The U.S. and Mexican governments reached a new agreement to significantly shift their sugar trade mix, but U.S. sugar producers have failed to endorse the deal, leaving question marks over whether it could still sour broader trade relations. U.S. Commerce Secretary Wilbur Ross said the “agreement in principle” with Mexican …
Qatar’s currency came under pressure on Tuesday as Gulf Arab commercial banks started holding off on business with Qatari banks because of a diplomatic rift in the region. Banking sources said some banks from Saudi Arabia, the United Arab Emirates and Bahrain delayed letters of credit and other deals with …
Cities are pushing back on the possibility of losing millions of dollars in U.S. anti-terrorism grants under President Donald Trump’s spending plan — the third straight White House that has moved to cut the funding. The proposed budget would cut cash for the program from $605 million to nearly $449 …
Global airlines made a full-throated defense of globalization on Monday at their largest annual gathering, vowing not to give up on climate change agreements and calling for a swift resolution of a diplomatic rift threatening air travel in the Middle East. Missing from the general meeting of the International Air …
The U.S. government is investigating complaints that air bag control computers in some Jeep Liberty SUVs can fail, preventing the air bag system from operating properly in a crash. The probe covers about 105,000 of the vehicles from the 2012 model year. The National Highway Traffic Safety Administration says …
On the border of China and Kazakhstan, an international free trade zone has become a showpiece of Chinese President Xi Jinping’s signature Belt and Road initiative to boost global trade and commerce by improving infrastructure and connectivity. Chinese state media are filled with stories about the stunning success of Horgos, …
The productivity of American workers was flat in the first three months of this year, while labor costs rose at the fastest pace since the second quarter of last year. Productivity growth was zero in the January-March quarter after rising at a 1.8 percent annual rate in the fourth quarter, …
Diversification is a growing trend in some sectors of the agriculture industry. Some winemakers in the northwestern state of Oregon are branching out into marijuana as a new business venture. Faith Lapidus reports. …
The Trump administration is considering possible sanctions on Venezuela’s vital energy sector, including state oil company PDVSA, senior White House officials said, in what would be a major escalation of U.S. efforts to pressure the country’s embattled leftist government amid a crackdown on the opposition. The idea of striking at …
The restaurant business can cause serious heartburn. It’s a mixed salad of bureaucracy, money, and paperwork that keeps some chefs from ever selling that first plate of food. But there may be hope as “restaurant incubators” offer chefs an alternative menu for success. Arash Arabasadi reports from Washington. …
The U.S. trade deficit rose in April to the highest level since January. The politically sensitive trade gap with China registered a sharp increase. The Commerce Department said Friday that the U.S. trade gap in goods and services climbed 5.2 percent to $47.6 billion in April from March. Exports …