Plans to build another privately-financed power station in Nigeria to help end decades of chronic blackouts have been delayed because of concerns about persistent shortfalls in payments for electricity across the sector. The $1.1 billion Qua Iboe Power Plant being developed by energy infrastructure company Black Rhino and the state-owned …
It was another miserable day on Wall Street as a series of big December plunges continued, putting stocks on track for their worst month in a decade. The Dow Jones Industrial Average dropped 464 points Thursday, bringing its losses to more than 1,700 points since Friday. The benchmark S&P 500 …
The U.S.-China trade war is spooking potential investors in soybean crushing plants planned for Wisconsin and New York state, developers said, casting doubt on the future of a sector that had been a rare bright spot in the U.S. farm economy. Crushers in the United States have been posting near-record …
A state of emergency has been declared in two eastern Sudan states after at least eight protesters were killed in mass demonstrations against rising prices. Thousands of protesters marched in cities and towns across Sudan Thursday, angry over widespread corruption and the rising costs of basic goods, including bread. Eyewitnesses …
At least two people were killed in eastern Sudan as thousands took to the streets across the country on Thursday protesting against soaring prices, with some calling for the overthrow of President Omar al-Bashir, officials and witnesses said. A student and another demonstrator died during violent protests in al-Qadarif, the …
The independent U.S. central bank raised borrowing rates Wednesday for the fourth time this year, dismissing President Donald Trump’s contention that policymakers ought not tinker with the country’s robust economy, the world’s largest. The Federal Reserve board voted 10-0 after a two-day meeting to increase its benchmark short-term interest rate …
The United States and China blamed each other for the crisis in the world trading system during a two-day “trade policy review” of the United States at the World Trade Organization. The Chinese representative to the WTO, Hu Yingzhi, accused the United States of deforming the rules of world trade, …
Poland has signed a long-term deal with a U.S. company for supplies of liquefied natural gas as part of an effort to reduce its dependence on Russian energy, the two sides announced on Wednesday. Port Arthur LNG, a subsidiary of San Diego-based Sempra Energy, and Poland’s state gas company PGNiG …
Every Brazilian, including current and former members of the armed forces, will have to compromise under the next administration’s pension reform plan, a former general set to become government minister said in an interview. Retired General Carlos Alberto dos Santos Cruz told Reuters in Brasilia last week that it was …
Greek lawmakers approved the heavily indebted country’s budget for 2019 late Tuesday, the first since Greece exited an eight-year bailout program. The budget lawmakers passed with a 154-143 vote still is heavy on austerity measures to ensure Greece registers a hefty surplus, in compliance with its debt relief deal with …
The finance committee of Mexico’s lower house of Congress on Tuesday rapidly approved the revenue section of President Andres Manuel Lopez Obrador’s 2019 draft budget, auguring speedy passage in the legislature his party controls. Lopez Obrador’s leftist government only unveiled the budget proposal on Saturday night. It met with a …
The economic outlook in South Korea is not good, according to the Hyundai Research Institute, which stated in a report this week that the economy “reached its peak in May 2017” and may bottom out in 2020. The bad economic news continues to contribute to President Moon Jae-in’s plummeting approval …
Chinese President Xi Jinping on Tuesday called for the implementation of reforms but offered no new specific measures in a highly anticipated speech that marked the 40th anniversary of China’s move towards market liberalization. In a speech lasting nearly an hour-and-a-half, Xi called for support of the state economy while …
China hopes Britain’s exit from the European Union can happen in an orderly way and that the bloc will reduce hurdles to Chinese investment and keep its markets open, China’s foreign ministry said on Tuesday. China, the world’s second-largest economy, has watched Brexit nervously, worried not only about potential market …
Boeing is buying a majority stake in Embraer’s commercial aircraft and services operations for $4.2 billion. The joint venture, announced Monday, gives Boeing 80 percent ownership of those operations, with Embraer owning the remaining stake. Boeing will have operational and management control of the company. Embraer will keep consent rights …
U.S. President Donald Trump on Monday implored the country’s independent central bank to not raise interest rates again when its policy makers meet this week. In a Twitter message, Trump said, “It is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around …
Nissan’s board met Monday but failed to pick a new chairman to replace Carlos Ghosn, who was arrested last month on charges of violating financial regulations, saying more discussion was needed. Nissan Motor Co. Chief Executive Hiroto Saikawa told reporters that the board approved a special committee of outsiders …
Homeowners appear to have learned the lesson of the Great Recession about not taking on too much debt. There is some concern that Corporate America didn’t get the message. For much of the past decade, companies have borrowed at super-low interest rates and used the money to buy back …
After two weeks of bruising negotiations, officials from almost 200 countries agreed Saturday on universal, transparent rules that will govern efforts to cut emissions and curb global warming. Fierce disagreements on two other climate issues were kicked down the road for a year to help bridge a chasm of opinions …
Stocks staggered to eight-month lows Friday after weak economic data from China and Europe set off more worries about the global economy. Mounting tensions in Europe over Britain’s impeding departure from the European Union also darkened traders’ moods. The Dow Jones Industrial Average dropped as much as 563 points. On …
Nigeria’s President Muhammadu Buhari said the country’s economy was in “bad shape,” the governor of a northwestern state told reporters Friday after a meeting with governors from across the country. Buhari will seek a second term in an election to be held in February in which the economy is likely to be a campaign issue. …
The federal budget deficit surged to a record for the month of November of $204.9 billion, but a big part of the increase reflected a calendar quirk. In its monthly budget report, the Treasury Department said Thursday that the deficit for November was $66.4 billion higher than the imbalance …
The federal budget deficit surged to a record for the month of November of $204.9 billion, but a big part of the increase reflected a calendar quirk. In its monthly budget report, the Treasury Department said Thursday that the deficit for November was $66.4 billion higher than the imbalance …
A gauge of world equities was little changed after giving up early gains on Thursday, continuing a pattern seen for the past several sessions, while the euro eased after the European Central Bank formally ended its bond purchasing scheme. In the United States, the S&P and Nasdaq finished in the …
A gauge of world equities was little changed after giving up early gains on Thursday, continuing a pattern seen for the past several sessions, while the euro eased after the European Central Bank formally ended its bond purchasing scheme. In the United States, the S&P and Nasdaq finished in the …
Wall Street stocks finished higher on Wednesday due to improved hopes for the US-China trade talks. The Dow Jones Industrial Average added 0.6 percent at 24,527.27. The broad-based S&P 500 advanced 0.5 percent to 2,651.07, while the tech-rich Nasdaq Composite Index jumped 1.0 percent to 7,098.31. Wall Street stocks have …