Some taxpayers are getting a bitter surprise this year as their usual annual tax refunds have shrunk — or turned into tax bills — even though President Donald Trump loudly promised them largest tax cut “in American history.” And with tax season under way, thousands of unhappy taxpayers have been …
The Somali government says it will award exploration licenses to foreign oil companies later this year, despite calls from the opposition to wait until laws and regulations governing the oil sector are in place. Seismic surveys conducted by two British companies, Soma Oil & Gas and Spectrum Geo, suggest that …
A new report finds the world’s unemployment rate has dropped to five percent, the lowest level since the global economic crisis in 2008. The International Labor Organization reports the jobs being created, however, are poor quality jobs that keep most of the world’s workers mired in poverty. Slightly more than …
Democrats pushed on Tuesday for a nationwide paid family leave system in the United States, the only developed nation that does not guarantee pay to workers taking time off to care for children or other relatives. The proposal would establish a national insurance program to provide workers with up to …
The national debt has passed a new milestone, topping $22 trillion for the first time. The Treasury Department’s daily statement showed Tuesday that total outstanding public debt stands at $22.01 trillion. It stood at $19.95 trillion when President Donald Trump took office on Jan. 20, 2017. The debt figure has …
A social venture in Myanmar is boosting farm outputs with customized technologies and giving loans for seasonal migration to raise incomes in one of the world’s poorest countries. Proximity Designs, which was set up in 2004 in the country’s commercial hub Yangon, focuses on farming, on which more than two-thirds …
U.S. President Donald Trump said on Tuesday that he could let the March 1 deadline for a trade agreement with China “slide for a little while,” but that he would prefer not to and expects to meet with Chinese President Xi Jinping to close the deal at some point. Trump’s …
A union declared total victory in a mass strike by about 25,000 workers at 48 assembly plants in a Mexican border city, but the movement spawned a storm of wildcat walkouts Monday at other businesses. The Industrial Workers and Laborers’ Union won 20 percent wage increases at all 48 …
Vale SA, the world’s largest iron ore miner, knew last year that the dam in Brazil that collapsed in January and killed at least 165 people had a heightened risk of rupturing, according to an internal document seen by Reuters on Monday. The report, dated Oct. 3, 2018, shows that …
U.S. Secretary of State Mike Pompeo is warning Hungary the presence of Chinese telecommunication manufacturer Huawei in the European country is complicating Budapest’s partnership with Washington. The chief American diplomat Monday arrived in Budapest on Monday, the first leg of his European trip. Huawei has established Hungary as a European …
International Monetary Fund chief Christine Lagarde on Sunday met Pakistani Prime Minister Imran Khan and assured him that IMF stands ready to support his country. The meeting took place on the sidelines of the World Government Summit in Dubai, hosted by the United Arab Emirates, both IMF and prime minister …
A joint study by the International Labor Organization and U.N. Children’s Fund finds the vast majority of the world’s children lack effective social protection coverage. It says this dooms them to a life of extreme poverty, with negative implications for society. The study finds only one third of children between …
A portion of TransCanada Corp’s Keystone oil pipeline remained shut on Thursday for investigation of a possible leak on its right-of-way near St. Louis, Missouri, a company spokesman said. TransCanada shut the pipeline on Wednesday between Steele City, Nebraska and Patoka, Illinois and sent crews to assess the situation, spokesman …
Twitter said Thursday profits rose sharply in the fourth quarter, lifted by gains in advertising despite a drop in its global user base. The short-messaging platform said it posted a $255 million profit in the final three months of 2018, compared with $91 million a year earlier, as revenues rose …
Fiat Chrysler Automobiles NV and Robert Bosch have agreed to pay lawyers representing owners of U.S. diesel vehicles $66 million in fees and costs, according to court filing on Wednesday and people briefed on the matter. In a court filing late on Wednesday in U.S. District Court in San Francisco, …
President Donald Trump says Treasury Department official David Malpass is his choice to lead the World Bank. Trump introduced Malpass on Wednesday as the “right person to take on this incredibly important job.” Malpass is a sharp critic of the 189-nation lending institution. Malpass says he’s honored by the nomination. …
Treasury Secretary Steven Mnuchin said Wednesday that President Donald Trump had a “quite productive” dinner with Federal Reserve Chairman Jerome Powell. He says they discussed a wide range of subjects, from the state of the economy to the Super Bowl and Tiger Woods’ golf game. Talking to reporters at the …
No matter who wins Algeria’s presidential election, 29-year-old cardiologist Moumen Mohamed plans to seek his fortune elsewhere. He is one of a growing number of young, educated Algerians who are looking for work in Europe or the Gulf to escape the low salaries imposed by a state-dominated economy at home. …
Rwanda said on Tuesday it had signed a $400 million deal to produce bottled gas from Lake Kivu, which emits such dense clouds of methane it is known as one of Africa’s “Killer Lakes.” The project by Gasmeth Energy, owned by U.S. and Nigerian businessmen and Rwandans, would suck gas …
When he was younger, the only thing that Enrique Morales knew about marijuana was that you smoked it to get high. Today, the former driver is a horticulturist on a cannabis plantation about 80 miles (130 kilometers) west of the Uruguayan capital of Montevideo and he says drops of …
Taxi-drivers in the Spanish capital seeking tighter regulation of Uber and other ride-hailing services called off their indefinite strike on Tuesday after 16 days during which they obtained no concessions from the Madrid regional government. Madrid’s refusal to accept drivers’ demands came after ride-hailing companies Uber and Cabify said last …
Negotiating new World Trade Organization rules to try to rein in China’s “mercantilist” trade practices would be largely a futile exercise, the Trump administration’s trade office said on Monday, vowing to pursue its unilateral approach to protect U.S. workers, farmers and businesses. The U.S. Trade Representative’s office used its annual …
Brazil’s government has opened discussions with congressional leaders, state governors and mayors on a pension reform bill that would set the minimum retirement age for men and women at 65, a government official said on Monday. The proposal is one of several under consideration, as President Jair Bolsonaro looks to …
Long before she became just one of the financially destitute legions of street sweepers that dot Moscow’s bitterly cold winter landscape, Shaknoza Ishankulova had simply wanted to do the right thing. It was 2008, and the recent Uzbekistan National University graduate was ecstatic to secure a teaching post at a …
British lawmakers are debating new proposals on the European Union Withdrawal Agreement this week, amid a series of stark warnings over the consequences of Britain crashing out with no deal on 29 March. Prime Minister Theresa May hopes to negotiate changes to the Withdrawal Agreement in meetings with Brussels in …
With Brexit just seven weeks away, Britain’s ruling Conservative Party was locked in tense negotiations with itself Monday to rework the U.K.’s divorce deal with the European Union — as the EU stood firm in ruling out any renegotiation. Meanwhile, pro-EU and pro-Brexit U.K. politicians traded allegations about whether Nissan’s decision …