U.S. officials are reviewing Venezuela’s seizure of General Motors’ assets in the country, U.S. State Department spokesman Mark Toner said Thursday. “We are reviewing the details of the case,” Toner said in a statement, saying the United States hoped to resolve the matter “rapidly and transparently.” GM said Wednesday that …
President Donald Trump has ordered an investigation into whether foreign steel imports are damaging U.S. national security, saying his administration would “fight for American workers and American-made steel.” The probe is authorized under a rarely used section of a 1962 trade law that allows a president to restrict imports in …
General Motors said Wednesday that Venezuelan authorities had illegally seized its plant in the industrial hub of Valencia and vowed to “take all legal actions” to defend its rights. The seizure comes amid a deepening economic crisis in leftist-led Venezuela that has roiled many U.S. companies. “Yesterday, GMV’s (General Motors …
A federal judge in Miami fined Princess Cruise Lines $40 million Wednesday for illegally dumping oil waste into the Atlantic Ocean and Gulf of Mexico, and for falsifying records. It is the largest such water pollution fine in U.S. history. The Miami Herald newspaper says the British engineer who reported …
Peru’s economy will recover in coming years with investment in construction after recent flooding, likely growing 4.5 percent in 2018 and 5 percent in 2019, Finance Minister Alfredo Thorne said on Wednesday. Previously, the government had expected growth of 4.3 and 4.1 percent for the next two years. The estimate …
The International Monetary Fund said President Trump’s plans to cut regulations and taxes might encourage companies to make risky investments of the kind that preceded the financial crisis in 2008. The comment came Wednesday in the newest edition of the IMF’s Global Financial Stability Report, which also said the financial …
Emirates Airline, the world’s biggest international air carrier by traffic, said Wednesday it is cutting flights to five U.S. cities because of a drop in demand since President Donald Trump sought to curb immigration from several Muslim-majority countries and imposed restrictions on passengers carrying electronic devices on flights to the …
U.S. President Donald Trump on Tuesday signed an executive order aimed at making it harder for companies to hire temporary foreign workers. The order, called “Buy American — Hire American,” will take initial steps to reform the H1-B visa program. H1-Bs allow employers — mostly high-tech firms — to hire …
Not a US citizen? Got skills? Need work? This might be the visa for you. …
When Mark Pavlyukovskyy, founder of a do-it-yourself computer kit maker, was looking for investors last year, he wanted someone who knew the Chinese market. Turns out, Pavlyukovskyy didn’t have to go to Beijing or Shanghai. Chinese venture capitalists are everywhere in Silicon Valley. Last year, Pavlyukovskyy, a Ukrainian-born American entrepreneur …
A state-backed newspaper in the United Arab Emirates that was bought by an Emirati who oversees the English soccer club Manchester City is undergoing layoffs, those with knowledge of the firings said Monday. They told The Associated Press that staffers at The National were informed Sunday they had been let …
Mini motorcycle and go-kart maker Monster Moto made a big bet on U.S. manufacturing by moving assembly to this Louisiana town in 2016 from China. But it will be a long ride before it can stamp its products “Made in USA.” The loss of nearly one out four U.S. factories …
China’s economic recovery is gaining traction, with growth rising to its fastest pace in over a year in January-March. The 6.9 percent annual pace of expansion for the world’s second-largest economy, reported Monday, surpassed economists’ forecasts and was an improvement from 6.8 percent growth in the last quarter of 2016. …
Each day, millions of Americans drink purified water and other beverages from disposable plastic bottles. More than 60 million of those bottles are dumped in landfills or burned in incinerators daily. But a couple of American entrepreneurs are putting some of them to good use by recycling them into shoes. …
You may have noticed: Much of the recent anti-immigration rhetoric in Washington most loudly comes from factions on the political right: H1B, H2B, it’s all about protecting American jobs. But every step of the way, progressive groups — while pro-immigrant — are just as critical of foreign worker visas. Federal …
Steeped in centuries of seemingly impenetrable tea tradition, Afghanistan’s capital is getting a little coffee buzz. Nargis Aziz Shahi says business has been increasing day by day since she opened iCafe a couple of weeks ago. Looking a little like a brick-walled Starbucks with a distinctively homey Afghan feel, it’s …
Steeped in centuries of traditional tea drinking, Afghanistan is getting a little coffee buzz for a change. Hikmat Sorosh has more on this popular new trend from the Afghan capital, Kabul, in this story narrated by Michael Lipin, with additional reporting by Khalil Noorzaie in Herat. …
The impact of automation on U.S. jobs is open to debate. Robots have displaced millions of manufacturing workers, and automation is getting cheaper and more common, raising concerns it will eventually supplant far more workers in the services sector of the economy, which includes everything from truck driving to banking. …
Robots have displaced millions of manufacturing workers, and automation is getting cheaper, more capable, and far more common in the much-larger services sector. This area includes everything from truck driving to banking and has far more jobs than factories had. VOA’S Jim Randle reports that one expert says “tens of …
U.S. President Donald Trump’s administration declined to name any major trading partner as a currency manipulator in a highly anticipated report on Friday, backing away from a key Trump campaign promise to slap such a label on China. The semi-annual U.S. Treasury currency report did, however, keep China on a …
Along northeastern Cape Cod off the coast of Massachusetts, April doesn’t usually equate with sunshine and sandcastles. The month is mostly a time of waiting for the fog and chill to lift off the Atlantic Ocean and the tourists to arrive. But this year is a problem for seasonal businesses, …
At first glance, U.S. President Donald Trump and Federal Reserve chair Janet Yellen may have little in common. Yellen is an academic economist and veteran of Democratic administrations who is committed to an open global economy, while Trump is a real estate mogul with an electoral base suspicious of the …
With economic growth rates close to 7 percent, Laos is a star in South East Asia, buoyed by investment and business ties with China, the country’s largest investor. In a new assessment the Lao government and Asian Development Bank predict the country’s good economic fortunes will continue. The ADB said …
President Donald Trump plans to revive the hobbled Export-Import Bank of the United States, his office said, a victory for American manufacturers like Boeing and General Electric which have overseas customers that use the agency’s government-backed loans to purchase their products. Trump first told the Wall Street Journal on Wednesday …
Zimbabwean entrepreneurs could soon use movable assets, including livestock and vehicles, to secure loans from banks, according to a bill brought before the country’s Parliament this week. The southern African country’s economy is dominated by informal business following the formal sector’s contraction by as much as 50 percent between 2000 …
President Donald Trump said Wednesday that his administration would not label China a currency manipulator, backing away from a campaign promise, even as he said the U.S. dollar was “getting too strong” and would eventually hurt the economy. In an interview with The Wall Street Journal, Trump also said he …