Here’s a look at how the U.S. government’s budget is drawn up and approved: — The process starts with the submission of the president’s annual budget request to Congress. Traditionally, this is done on the first Monday in February. The president’s budget request details the administration’s position on a full …
Vladimir Jehlicka and his business partners spent 25 years building up their Czech machinery firm before deciding to call it a day. However, they faced a problem that is growing as the first generation of post-communist entrepreneurs nears retirement. Their children weren’t interested in running the shop but equally Jehlicka …
Greece and its lenders resumed a long-stalled review of its bailout Tuesday, with the government in Athens braced to commit to yet more austerity in exchange for the funds the country needs to remain solvent. The review has dragged on for months, partly because of a rift between the European …
Pakistan’s decision to close the border with Afghanistan was a largely symbolic act aimed at forcing its neighbor to take action against extremist groups blamed for fomenting cross-border terror attacks. It’s a hard reality for the travelers and traders trapped for nearly two weeks on both sides of the dusty …
Billionaire investor Wilbur Ross was sworn in as U.S. commerce secretary on Tuesday after helping shape Republican President Donald Trump’s opposition to multilateral trade deals. Vice President Mike Pence administered the oath of office to Ross, 79, a day after the U.S. Senate voted to confirm the corporate turnaround expert’s …
South Korean special prosecutors said they would indict Samsung’s de facto chief Tuesday on bribery, embezzlement and other charges linked to a political scandal that has toppled President Park Geun-hye. The planned indictment of Samsung Electronics vice chairman Jay Y. Lee is a huge hit for the largest and most …
Sales of Cuba’s legendary cigars rose 5 percent last year to $445 million, defying stagnation in the global luxury goods market, manufacturer Habanos S.A. said on Monday at the opening of the Caribbean island’s annual cigar festival. Habanos, which makes brands including Cohiba, Monte Cristo and Romeo y Julieta, said …
Billionaire investor Wilbur Ross easily won confirmation as U.S. commerce secretary on Monday, clearing President Donald Trump’s top trade official to start work on renegotiating trade relationships with China and Mexico. The U.S. Senate voted 72-27 to confirm the 79-year-old corporate turnaround expert’s nomination, with strong support from Democrats. Ross …
In an effort to save on labor costs and increase efficiency, fast-food chain Wendy’s will install self-ordering kiosks in about 1,000 of its locations in the United States. According to David Trimm, a spokesman for the Ohio-based company, franchises that want the kiosks will, on average, install three of them, …
The American mining company Freeport-McMoRan has brought the world’s biggest gold mine, in the Indonesian province of West Papua, to a standstill. The corporation is butting heads with the Indonesian government over protectionist mining regulations. And now that Freeport has started to dismiss tens of thousands of workers, the local …
President Donald Trump’s administration will begin rolling back Obama-era environmental regulations in an “aggressive way” as soon as next week, the head of the Environmental Protection Agency said Saturday — adding that he understood why some Americans wanted to see his agency eliminated. “I think there are some regulations that …
Launching a startup is no easy feat. Launching one outside your native country is even harder. But for certain French startups, the French government is there to help. A government-sponsored competition that began last year offers startups marketing and promotional assistance. The Creative Next Challenge is a series of …
Facing pushback from industry and Republicans in Congress, the U.S. Environmental Protection Agency delayed Friday a proposal that would require mining companies to show they have the financial wherewithal to clean up their pollution so taxpayers aren’t stuck footing the bill. Contaminated water from mine sites can flow into rivers …
When toymaker Estrela decided to move manufacturing capacity back to Latin America from China, it sank $2 million into a new factory not in its native Brazil – the region’s largest economy – but in its tiny southern neighbor Paraguay. The plant, which opened this month in the border town …
China for the first time became Germany’s most important trading partner in 2016, overtaking the United States, which fell back to third place behind France, data showed on Friday. German imports from and exports to China rose to 170 billion euros ($180 billion) last year, Federal Statistics Office figures reviewed …
Greek Prime Minister Alexis Tsipras defended a deal reached between Athens and its foreign creditors for further reforms in return for bailout aid, saying it was an “honorable compromise.” Tsipras said he believed relations between Greece, the European Union and International Monetary Fund had turned a page after seven years …
Egyptians are bearing down under their worst inflation in a decade, cutting spending as much as possible as prices surge on basic food items, transportation, housing, and even some essential medicines. Inflation reached almost 30 percent in January, up 5 percent over the previous month, driven by the floatation of …
President Donald Trump told the heads of more than 20 of the largest U.S. manufacturers Thursday that he planned to bring millions of factory jobs back to the United States. Trump said the United States had lost one-third of its manufacturing jobs since the North American Free Trade Agreement was …
Treasury Secretary Steven Mnuchin said Thursday the administration is committed to getting major tax reform legislation through Congress by August. He predicted that President Donald Trump’s economic proposals will be able to boost growth significantly to annual rates above 3 percent. Mnuchin said that tax reform is the administration’s top …
In the aftermath of Hurricane Katrina in 2005, Gillis, Ellis & Baker, a New Orleans-based insurance company, relocated from the battered, flooded city to nearby Baton Rouge so it could carry on serving its 4,000 clients, who all had at least one claim following the storm. Had it not been …
В Москве районный суд назначил экспертизу по иску Владимира Шумилина к Samsung Electronics, где он обвиняет корейского гиганта в нарушении принадлежащих ему патентов при реализации на рынке РФ мобильных телефонов с поддержкой двух сим-карт. Исследование покажет, нарушил ли Samsung права российского изобретателя. В случае признания его виновным сумма компенсации может …
Из Facebook ушёл Бен Блюменфельд, менеджер по дизайну, проработавший в компании около 5 лет. И это уже четвёртый топ-менеджер, покинувший компанию за менее чем две недели. Блюменфельд разместил в своем блоге сообщение о том, что он покидает Facebook, несмотря на то, что «…это компания с совершенно необыкновенной культурой и сотрудниками. …
Уже не один раз сообщалось, что компания Google хорошо относится к своим сотрудникам, начиная от бесплатного питания и фитнес классов и, заканчивая, сервисом по стирке и мытью машин. Однако, согласно последнему отчету, недавно компания выступила со льготами в случае смерти сотрудника, включая щедрое предложение по выплате партнеру по браку умершего …
На прошлой неделе стало известно, что несколько крупных реселлеров iгаджетов стали реализовывать iPhone 4/4S со скидкой в $50. Некоторые аналитики предположили, что это обусловлено возможным скорым релизом нового iPhone этой осенью. Судя по всему они были полностью правы, так как уже сегодня журналистам портала Mac Rumors стало известно о том, …
В России необходимо ввести некоторое регулирование. Об этом заявил генеральный директор Яндекс Алексей Волож в интервью для еженедельника Bloomberg. За последние 15 лет интернет в России бурно развивался и был гораздо более открытым, чем в других странах. Это имело как плюсы, так и минусы. В основном постоянно существовали две проблемы: …
В Mail.Ru Group исследовали статистику распределения времени, которое жители Украины проводят в интернете. Интернет все более прочно входит в жизнь украинцев. Об этом можно судить по постоянно растущему количеству времени, которое жители Украины проводят онлайн. Так, по данным TNS, во второй половине 2008 года украинский пользователь интернета в среднем проводил …