Sears, once the monolith of American retail, says that there is “substantial doubt” that it will be able to keep its doors open. Company shares, which hit an all-time low last month, tumbled more than 12 percent Wednesday. Sears has been a member of the retail dead pool …
Farmers in the U.S. agricultural heartland who helped elect Donald Trump are now pushing his administration to avoid a trade dispute with Mexico, fearing retaliatory tariffs that could hit over $3 billion in U.S. exports. The value of exports at risk is based on a Reuters analysis of a tariff …
Oil prices dipped on Wednesday as rising crude stocks in the United States underscored an ongoing global fuel supply overhang despite an OPEC-led effort to cut output. Prices for front-month Brent crude futures, the international benchmark for oil, were at $50.79 per barrel at 0451 GMT, down 17 cents, or …
Brazil’s government plans to announce spending freezes of 30 billion to 35 billion reais ($9.7 billion to $11.3 billion) this week to help meet part of its 2017 budget deficit target, the Senate leader said on Tuesday. The rest of the shortfall will have to come from raised taxes and …
Amid continuing economic turmoil, Venezuela skipped heating oil contributions to a Massachusetts-based nonprofit for a second consecutive winter, signaling that the popular program that began with fanfare after Hurricane Katrina may be kaput. The decision by Venezuela’s Citgo Petroleum Corp. to bow out of the program founded by Joseph P. …
Namibia’s president said Tuesday that the government is considering radical land expropriation to spur the transfer of property to the country’s black majority. Speaking at Namibia’s 27th independence celebrations, President Hage Geingob said the government should evoke part of the Constitution allowing for land expropriation with fair compensation since the …
The University of Southern California each year hosts the African Economic and Development Summit, bringing delegations of African business leaders, government officials and others to network with their counterparts in the U.S. But this year, the African summit has no Africans. All were denied visas. Michelle Quinn reports from Los Angeles. …
The World Bank reports Africa will receive the bulk of the $75 billion the International Development Association, or IDA, will spend to finance life-saving and life-changing operations over the next three years mainly in 30 of the world’s poorest, most fragile countries. The IDA is a part of the World …
There was bad news for the United Nations last week, as President Donald Trump announced he is seeking a 28 percent budget cut for diplomacy and foreign aid, which includes an unspecified reduction in funding to the United Nations and its agencies. VOA’s U.N. Correspondent Margaret Besheer reports that the …
China, the world’s third-largest bond market accounting for $9 trillion in debt instruments, has started the process of opening up to foreign investors. Two major investment banks, including Citigroup, have announced plans to join the fray and several others are expectantly watching the unfolding situation. It’s not a sudden desire …
German Chancellor Angela Merkel and Japan’s Prime Minister Shinzo Abe spoke up for free trade at a major technology fair on Sunday with jabs clearly pointed at an increasingly protectionist United States. Both called for a free trade deal to be reached quickly between Japan and the European Union, in …
U.S. Treasury Secretary Steve Mnuchin said the meeting of finance ministers of the G20 countries was a success Saturday despite the ministers not reaching agreement on trade protectionism. “I will leave here confident that my colleagues and I are able to work in partnership to …foster and promote global growth …
In Greece’s grinding economic crisis, a home for abused children is now taking in those whose parents are struggling to feed them. It is perhaps the darkest sign of economic devastation in Greece, where traditionally strong family ties are starting to crumble after years of depression. A quarter of Greece’s …
It could be a Hollywood screenplay. Juliana Armelin and her husband Paulo Siqueira decided to radically change their lives in 2010, quitting jobs in Sao Paulo’s financial sector and moving to a farm seven hours away to start growing coffee. Seven years later, they clinched for a second consecutive year …
Airbnb expects to maintain its rapid growth in Africa this year and double its customer numbers to 1.5 million, its Chief Executive Brian Chesky and regional head told Reuters on Friday. The number of people using the online room rental service on the continent rose by 143 percent to about …
In the latest outreach effort following a contentious campaign, top Trump administration officials – as well as first daughter Ivanka Trump – met Thursday with Hispanic business leaders. Underscoring her unusual role working outside the administration, Ivanka Trump attended a round-table discussion Thursday morning with Hispanic women business owners …
Foreign tourism to the United States, which supports millions of American jobs, is slowing, possibly because President Donald Trump sought controversial travel restrictions on some Muslim-majority nations. Online searches for flights to the United States are down in most major nations, not just those hit by restrictions. Jim Randle reports …
Carmakers and suppliers gave widely differing timelines Thursday for the introduction of self-driving vehicles, showing the uncertainties surrounding the technology as well as a split between cautious established players and bullish new entrants. Chipmaker Nvidia, facing direct competition with the world’s top chipmaker after Intel’s $15 billion deal to buy …
Latin American countries are becoming more reliant on costly fuel imports amid floundering efforts to bolster domestic oil output and expand refinery capacity. Incomplete reform projects and budget cuts that have stalled investments are aggravating the situation for many Latin American countries. For refiners in the United States, it is …
Foreign tourism to the United States, which supports millions of American jobs, is slowing, possibly because President Donald Trump sought controversial travel restrictions on visitors from some Muslim majority nations. Online searches for flights to the United States are down in most major nations, but not just those hit by …
President Donald Trump’s blueprint budget calls for a dramatic increase in defense and homeland security spending, offset by deep cuts to foreign aid and federal agencies like the Environmental Protection Agency. But could there be another way to build up the military without taking money away from other valuable programs? …
U.S. President Donald Trump has vowed to get tough on trade partners like China, Mexico and Germany. Now his Treasury chief, Steven Mnuchin, will get his first opportunity to confront them all in one room. The meeting of the 20 most powerful economies’ finance ministers in Germany this week is …
China and Saudi Arabia Thursday signed memorandums of understanding and letters of intent potentially worth about $65 billion during Saudi King Salman’s visit to Beijing, a senior Chinese diplomat said. Deputy Chinese Foreign Minister Zhang Ming said the agreements involved investment, energy, space and other areas, but did not give …
China’s central bank raised short-term interest rates for the third time in as many months Thursday, a day after the end of the annual session of parliament where leaders warned that tackling debt risks would be a top policy priority this year. The move came hours after the U.S. Federal …
President Donald Trump is to tell American autoworkers Wednesday in the state of Michigan that he is setting aside strict fuel-economy requirements imposed by the previous administration in its waning days. The Trump White House contends that action broke an earlier agreement with the auto industry to wait until 2018 …
China is warning about the possible impact of a trade war with the United States, even as the world’s two biggest economies take steps to map out relations under the administration of President Donald Trump. Speaking at an annual news conference Wednesday, at the end of high-level political meetings in …