Recent political turmoil in South Africa has come at a cost, with ratings agency S&P Global saying a controversial Cabinet reshuffle and growing pressure on the president to resign have lowered the country’s sovereign credit rating to “junk” status. Economists predict that will result in higher interest rates and higher …
The U.S. plane maker Boeing said Tuesday it agreed to sell 30 of its 737 MAX jets to Iran’s Aseman Airlines, a deal worth $3 billion. The sale marks the second such Boeing deal made possible by the 2015 nuclear agreement signed by former U.S. president Barack Obama to relieve …
The U.S. Department of Homeland Security announced steps on Monday to prevent the fraudulent use of H1B visas, used by employers to bring in specialized foreign workers temporarily, which appeared to fall short of President Donald Trump’s campaign promises to overhaul the program. Trump had promised to end the lottery …
The effects of the 2008 financial crisis are still being felt, says the International Monetary Fund’s Managing Director Christine Lagarde. She cites a new IMF study showing global productivity has slowed to 0.3 percent over the last decade, lower than the pre-crisis average of about 1 percent growth per year. …
Japanese big manufacturers’ business confidence improved for a second straight quarter to hit a one-and-a-half year high in March, a closely watched central bank survey showed, a sign the benefits of an export-driven economic recovery were broadening. Service-sector sentiment improved for the first time in six quarters and companies remained …
Training for the Boston Marathon has left Tommy Race feeling spent. His bank account, too: Race’s Boston adventure will cost about $2,000. “It’s a lot of money, but it’s also a vacation,” said Race, a high school math teacher from Bellingham, Washington. “For a runner like myself, I’d much …
Iraq’s oil minister said on Sunday that his country plans to increase daily crude oil production to 5 million barrels by the end of this year, up from the current rate of about 4.4 million barrels per day, to secure sorely needed cash for its ailing economy. Iraq, where …
Investors are plowing ever more into ethical funds to back their views on issues such as global warming and gender equality, but such investments can be confusingly similar to standard funds, except for higher fees and “green halo” marketing. The $23 trillion “sustainable, responsible and impact” (SRI) investment sector has …
President Donald Trump doubled down on his tough talk on trade with a pair of executive orders Friday, which he says are designed to level the playing field and reduce the $500 billion US trade deficit, more than half of which is with China. As Mil Arcega reports, the issue …
Hotels offer congee and other Chinese staples for room service. Casinos train staff members on Chinese etiquette. Restaurants, tourist sights and shopping malls translate signs, menus and information booklets into Mandarin. The American hospitality industry is stepping up efforts to make Chinese visitors feel more welcome, since they are projected …
Friday marked the end of the week, the month and the first fiscal quarter of 2017. The first-quarter statistics were pretty impressive with the NASDAQ Composite delivering the best return of the three main indices of nearly 10 percent as the index broke through another record high on Friday, led …
The White House says it will share financial information about some top staff members on its website late Friday. President Donald Trump, a billionaire New York businessman, has hired some of the wealthiest people to ever serve in government. Their financial assets must be detailed in documents accessible to the …
Boris Kiknadze, chief executive of Pawwwn, took a deep breath as he looked out to the crowd of Silicon Valley venture capitalists and began his pitch. With just 10 minutes to speak, Kiknadze rapidly described his business idea — Pawwwn, an online payment and management system to make transactions easier …
Hundreds of ships are switching off their tracking devices and taking unexplained routes, raising concern the trafficking of arms, migrants and drugs is going undetected. Ninety percent of the world’s trade is carried by sea. Every vessel has an identification number administered by the United Nations’ International Maritime Organization or …
Hundreds of ships are switching off their tracking devices and taking unexplained routes, raising concern that the trafficking of arms, migrants and drugs is going undetected. New technology enables authorities to follow the routes of suspect vessels, but security experts say taking on the smugglers will require greater coordination. Henry …
Zambia is attempting to convert the nation to energy-saving light emitting diode (LED) lightbulbs to help plug crippling power shortages that have hit mining and agriculture and imposed daily rationing on parts of the country. If all homes and industries switch to the longer-lasting bulbs, the country could save up …
A Native American tribe in Montana filed a lawsuit against the Trump administration Wednesday, challenging its decision to lift a moratorium on coal leases on public land without first consulting with tribal leaders. The Northern Cheyenne Tribe, located in southern Montana, said the administration lifted the moratorium without hearing the …
Beijing’s reported economic retaliation against South Korea for deploying the U.S. Terminal High Altitude Area Defense (THAAD) missile system continues to target certain sectors, like imports of Korean cosmetics, canceling K-pop concerts, and a ban on Chinese tour groups to South Korea. At Seoul’s Namsam Tower, smaller than usual crowds …
Workplaces have become less civil spaces than they once were. People don’t say please and thank you. Employees send e-mails and texts during meetings, ignoring the speaker and tuning out of the discussion. Others take too much credit for collaborative work. The nasty looks and belittling comments reached a point …
Britain has formally notified Brussels of its intention to leave the European Union, triggering a two-year period of negotiations over its departure and future relations. London financiers are concerned that Britain’s withdrawal from the European Single Market will put the city’s pre-eminence as the continent’s financial hub at risk. As …
South Korean economic reforms, made in part to minimize the impact of a potential international financial crisis, make it a likely target for charges of unfair currency manipulation by the United States. There is growing concern in South Korea and in other emerging markets that the administration of U.S. President …
Westinghouse Electric Company filed for Chapter 11 bankruptcy protection Wednesday, saying it needed to restructure because of “certain financial and construction challenges” from its nuclear power plant projects. The company has struggled with cost overruns and delays with the plants. Parent company Toshiba warned in February it would need to …
Brazil’s federal police on Tuesday raided a brokerage in Rio de Janeiro which they allege helped launder money for corrupt former executives of state-run oil firm Petrobras, as part of their sprawling “Car Wash” anti-graft probe. Police said they searched the offices of the Advalor Distribuidora de Titulos e Valores …
U.S. consumer confidence, home prices, and the trade deficit all improved, according to economic reports published Tuesday. Consumer confidence hit a 16-year high, as consumers said they were more confident about getting or keeping jobs and the economic outlook in general. The Conference Board said its index jumped more than …
Ford Motor Co. is investing $1.2 billion in three Michigan facilities, including an engine plant where it plans to add 130 jobs. President Donald Trump, who has pressured automakers to invest more and create jobs in the U.S., applauded the move Tuesday in an early morning tweet. “Big announcement by …
Turkish and Gulf airlines are touting free WiFi and better in-flight connectivity for smartphones as they scramble to mitigate the impact of a ban on laptops in plane cabins bound for the United States. The restrictions could deal a blow to fast-growing Gulf airlines, which depend on business-class flyers stopping …