President Donald Trump is proposing to balance the federal budget within 10 years by slashing many social programs, including some that help the poor pay for food and medical care, called food stamps and Medicaid. Officials have outlined some new details of the president’s first spending plan. A president’s budget …
Gambia’s government used a court order Monday to seize assets belonging to exiled former President Yahya Jammeh. They include nearly 90 bank accounts and 14 companies linked to Jammeh. Justice Minister Abubacarr Tambadou says Jammeh stole $50 million in public funds before fleeing Gambia for Equatorial Guinea in January. Jammeh …
The European Commissioner for Economic and Financial Affairs, Pierre Moscovici, said on Sunday he was confident an agreement between Athens and its creditors could be found at a meeting of euro zone finance ministers on Monday in Brussels. Athens needs funds to repay 7.5 billion euros ($8.4 billion) of debt …
The world’s largest private equity fund, backed by Japan’s Softbank Group and Saudi Arabia’s main sovereign wealth fund, said Saturday that it had raised over $93 billion to invest in technology sectors such as artificial intelligence and robotics. “The next stage of the Information Revolution is under way, and building …
About 3 million Americans will enter the job pool this year as graduation ceremonies get underway at various colleges and universities across the United States. With unemployment at a 10-year low, 2017 is shaping up to be a good year for new grads. But as Mil Arcega reports, success for …
About three million American university graduates will enter the job market this year. And with unemployment currently at a 10-year low, it’s a good time to be graduating, says Nicole Smith, chief economist at Georgetown University’s Center on Education and the Workforce (CEW). “We are at one of the lowest …
A sizable majority of rural Americans backed Donald Trump’s presidential bid, drawn to his calls to slash environmental rules, strengthen law enforcement and replace the federal health care law. But last month, many of them struck a sour note after White House aides signaled that Trump would deliver on another …
An OPEC panel reviewing scenarios for next week’s policy-setting meeting is looking at the option of deepening and extending an OPEC-led deal to reduce oil output, OPEC sources said Friday. OPEC’s national representatives — officials representing the 13 member countries, plus officials from OPEC’s Vienna secretariat — met Wednesday and …
U.S. President Donald Trump’s administration says it has notified Congress it intends to renegotiate the North American Free Trade Agreement with Canada and Mexico. In a letter sent Thursday to congressional leaders, U.S. Trade Representative Robert Lighthizer said the administration plans 90 days of consultations with lawmakers over how to …
The Koch Brothers’ political network is preparing to spend millions of dollars to ensure their vision for tax reform isn’t lost in the increasing chaos consuming President Donald Trump’s administration. The network’s leading organizations, Americans for Prosperity and Freedom Partners, on Thursday released a set of general preferences for major …
As China hails the success of its first Belt and Road summit, major powers remain skeptical about the $1 trillion-dollar infrastructure and trade project. Analysts say while the ambitious plan has whet the appetite of developing nations, China missed an opportunity to get developed countries on board. The fact that …
U.S. stocks, the dollar, and government bonds were down in Wednesday’s trading amid investor worries about controversial actions and comments from President Donald Trump. The major U.S. stock indexes fell 1.8 percent or more, and the Dow Jones Industrial Average was off 372 points. The faltering markets follow Trump’s firing …
Mexican Economy Minister Ildefonso Guajardo said Tuesday that he expected U.S. President Donald Trump’s administration to tell Congress early next week of plans to renegotiate the North American Free Trade Agreement, a move that would produce talks by late August. Guajardo said he would have more information after meeting with …
Greek seamen and journalists walked off the job Tuesday, a day before a nationwide general strike to protest new austerity measures the government is legislating for in return for more bailout funds. The seamen’s union announced Tuesday afternoon they would extend their strike, originally planned to last 48 hours, for …
American industry expanded production last month at the fastest pace in more than three years as manufacturers and mines recovered from a March downturn. The Federal Reserve said Tuesday that industrial production at U.S. factories, mines and utilities shot up 1 percent in April from March, biggest gain since …
Cybersecurity experts warn that hundreds of thousands of computer users across the globe remain vulnerable following a large-scale virus attack in recent days. The so-called ‘ransomware’ virus struck governments and companies around the world, as Henry Ridgwell reports from London. …
Chinese President Xi Jinping says countries participating in the two-day Belt and Road Forum have agreed to an action plan with a list of 270 goals Speaking at the end of the forum, China’s leader said the 30 heads of state who attended the summit in Beijing and nearby Yanqi Lake …
China says nearly 30 heads of state who were attending its first Belt and Road forum joined Beijing in signing a communiqué pledging to fight protectionism and ensure free and inclusive trade. China also used the meeting to assure other countries about the scope and aims of the ambitious initiative. …
Anheuser-Busch is upgrading its U.S. breweries and plans to build two new distribution centers as it adapts to an increasingly fragmented beer market. The maker of Budweiser, Corona, Stella Artois says the upgrades and new distribution centers in Los Angeles and Columbus, Ohio, will allow it to store a greater …
Historic rivals China and Vietnam are working on substantive agreements that could cover trade, investment and maritime resource sharing despite a bitter sovereignty dispute that had snarled relations less than a year ago. The Communist neighbors are inching toward new trade and investment ties that analysts say would help shore …
U.S. Treasury Secretary Steven Mnuchin said Saturday after meeting with officials from the world’s other industrialized democracies that he thought they were more at ease with Donald Trump’s economic policies. “People are more comfortable today, now that they’ve had the opportunity to spend time with me and listen to the …
A global cyber attack on Friday affected British hospitals, government agencies and companies in 99 countries, with Russia, Ukraine and Taiwan the top targets, security software maker Avast said. Hacking tools widely believed by researchers to have been developed by the U.S. National Security Agency that were leaked online last …
From the United States and Canada to small islands in Europe and the Caribbean, Chinese are spending billions on new passports and visas to move their families away from their homeland. China’s middle and upper classes are demanding better schools, cleaner air and a more secure life for their children. …
In a move that is likely to give a boost to China’s Belt and Road Forum, the United States has announced that it will participate in meetings on the initiative beginning this weekend in Beijing. The decision to attend is part of a 100-day plan and new deal between Washington …
U.S. consumers bought more cars and hardware, and stepped up online purchases in April, after two months of sluggish sales. Friday’s report from the Commerce Department says retail sales rose four-tenths of a percentage point in April, and sales were a bit better than first reported the previous month. The …
In an interview with The Economist, President Donald Trump whiffed on a batch of economic facts. He got the Canada-U.S. trade balance wrong, misplaced the U.S. in the world ranks of tax burdens and claimed to have coined an economic phrase that’s been familiar to economists for some 80 years. …