At President Donald Trump’s direction, the United States intends to scrap the preferential trade status granted to India and Turkey, officials said Monday. Washington “intends to terminate India’s and Turkey’s designations as beneficiary developing countries under the Generalized System of Preferences (GSP) program because they no longer comply with the …
The S&P 500 and the Dow Jones industrial average snapped a three-day run of losses on Friday as optimism about the prospects for a U.S.-China trade agreement countered downbeat U.S. and China manufacturing data. The Nasdaq, meanwhile, marked its longest streak of weekly gains since late 1999. Following President Donald Trump’s announcement last …
U.S. consumer spending tumbled 0.5 percent in December, the biggest decline in nine years, as the holiday shopping season ended in disappointment. Meanwhile, incomes rose sharply in December but edged down in January. The fall in consumer spending followed sizable gains of 0.7 percent in October and 0.6 percent in …
Oregon Gov. Kate Brown signed the nation’s first statewide mandatory rent control measure on Thursday, giving a victory to housing advocates who say spiraling rent costs in the economically booming state have fueled widespread homelessness and housing insecurity. Brown, a Democrat, said the legislation will provide “some immediate relief …
Tesla says it is now taking orders for the long-awaited $35,000 Model 3, will close stores and move to online orders. Tesla says it is now taking orders for the long-awaited $35,000 Model 3, a car for the masses that is essential for the company to survive. The company says …
Gap Inc. said Thursday that it would separate its Old Navy brand into a publicly traded company in order to focus on its struggling namesake apparel business, sending its shares up 18 percent. Old Navy has had a better success than the Gap brand in recent years as a wide range of budget apparel …
Online crafts retailer Etsy Inc will go green by offsetting planet-warming carbon emissions from its shipping activities, the U.S. company said Wednesday, joining a host of companies making public moves to battle climate change. Etsy will buy clean energy certificates supporting tree conservation in the United States, wind and solar …
The United States won a World Trade Organization ruling Thursday that China subsidized its wheat and rice producers too much in recent years. The WTO in Geneva agreed with the U.S. position that Beijing paid its farmers excessive amounts for growing wheat, Indica rice and Japonica rice from 2012 to …
The U.S. economy slowed in the final three months of last year to an annual growth rate of 2.6 percent, the slowest pace since the beginning of 2018, as various factors including the government shutdown took a toll on growth. Economists believe growth has slowed even more in the current …
As Walmart moves to phase out its familiar blue-vested “greeters” at 1,000 stores nationwide, disabled workers who fill many of those jobs say they’re being ill-treated by a chain that styles itself as community-minded and inclusive. Walmart told greeters around the country last week that their positions would be eliminated …
Women around the world are granted only three-quarters of the legal rights enjoyed by men, often preventing them from getting jobs or opening businesses, the World Bank said in study published Wednesday. “If women have equal opportunities to reach their full potential, the world would not only be fairer, it …
The Federal Reserve will stop shrinking its $4 trillion balance sheet later this year, Fed Chairman Jerome Powell said on Wednesday, ending a process that investors say works at cross-purposes with the Fed’s current pause on interest rate hikes. “We’ve worked out, I think, the framework of a plan that we hope to be able to …
Boeing on Wednesday unveiled an unmanned, fighter-like jet developed in Australia and designed to fly alongside crewed aircraft in combat for a fraction of the cost. The U.S. manufacturer hopes to sell the multi-role aircraft, which is 38 feet long (11.6 meters) and has a 2,000 nautical mile (3,704-kilometer) range, …
Brazil’s Senate confirmed Roberto Campos Neto as central bank governor on Tuesday, after he stressed that controlling inflation and reining in public spending were critical to supporting economic growth. Much work must still be done to secure Brazil’s economic recovery, Campos Neto told the Senate’s economic committee at his confirmation …
The Federal Reserve is in “no rush to make a judgment” about further changes to interest rates, Fed Chairman Jerome Powell told U.S. lawmakers on Tuesday as he spelled out the central bank’s approach to an economy that is likely slowing. In two hours of testimony to the Senate Banking …
Kenya’s ride-hailing company ‘Little Cab’ is expanding to Tanzania and Ghana. The company will start offering rides in Tanzania’s commercial capital Dar es Salaam next week and plans to launch in Accra by May. VOA’s Mariama Diallo reports. …
Turkish President Recep Tayyip Erdogan has declared war on inflation after food prices in the country soared by 30 percent after last year’s collapse of the Turkish currency. In a bid aimed at securing his political future, Erdogan is taking radical measures to curb price increases after accusing food sellers …
A slowing economy is unlikely to crimp China’s 2019 defense budget rise, as Beijing earmarks more spending for modernization and big-ticket items like stealth jets, and focuses on Taiwan after a stern new year’s speech from President Xi Jinping. The defense spending figure is closely watched worldwide for clues to …
Afghanistan has started shipping goods to India for the first time through a newly developed Iranian seaport in a bid to improve exports and reduce reliance on routes through its uneasy neighbor, Pakistan. Afghan President Ashraf Ghani traveled Sunday to the western border city of Zaranj to see off the …
Trump Postpones New Trade Tariffs on China …
The United States and China are discussing a meeting between their two leaders soon to finalize a trade agreement. To move things forward, the latest round of trade talks between senior officials is being extended into the weekend. As Nike Ching reports, experts say world’s two largest economies must bridge …
Stocks rose in major markets around the world Friday on bets of progress in trade talks between China and the United States, while crude futures hit their highest level in more than three months supported by ongoing supply cuts. U.S. President Donald Trump said Friday that there was a very good chance the United States …
The Trump administration is denying and delaying more skilled-worker visa petitions than at any time since at least 2015, in keeping with its promise to increase scrutiny of foreign workers, according to data the government released on Friday. U.S. officials say they have made reforms that prioritize American workers, cut …
U.S. President Donald Trump will meet with China’s vice premier at the White House Friday as part of an ongoing effort to defuse the trade dispute between the world’s two largest economies. Representatives from both countries have engaged in talks in Washington this week under a cloud of uncertainty created …
Analysts say a $15.4 billion write-down for food giant Kraft Heinz reflects changing consumer taste for fresh food products over processed ones. The company said Thursday the decrease in value of some of its major brands resulted in a net loss of $12.6 billion. Kraft Heinz also announced Thursday the …
From homeowners facing higher flood insurance premiums to investors putting money into coal-fired power plants, financial risks related to climate change are growing, analysts say. But working out how a switch to lower-carbon train travel could affect an airline or what an insurance firm should do to weather more flood claims is neither clear nor simple, …