Foreign companies have been flocking to Vietnam. Earlier this year, one of the world’s biggest private equity firms Warburg Pincus added banking and logistics to its Vietnam portfolio, pushing its total investment into the country over the $1 billion mark. Auto players like JAC Motors of China, as well as …
Malaysia may introduce new taxes and sell assets such as land to pay down debt, Prime Minister Mahathir Mohamad said on Tuesday, as his administration struggles with liabilities of around 1 trillion ringgit ($240.67 billion). Mahathir, who unexpectedly won a general election in May, has blamed the previous administration of …
Netflix has chosen New Mexico as the site of a new U.S. production hub and is in final negotiations to buy an existing multimillion-dollar studio complex on the edge of the state’s largest city, government and corporate leaders announced Monday. It’s the company’s first purchase of such a property, …
American Airlines is telling employees to think twice before rebooking stranded customers on rival airlines, and regular economy-class passengers are the most likely to suffer when there are long delays or canceled flights. A new policy at American directs airport agents not to rebook economy passengers on competing airlines — …
The Royal Swedish Academy of Sciences has awarded this year’s Nobel Prize for economics to Yale University’s William Nordhaus and New York University’s Paul Romer. The Academy said Nordhaus and Romer “have designed methods for addressing some of our time’s most basic and pressing questions about how we create long-term …
For the first time, researchers have been able to track the amount of Chinese investment in Australia. From the purchase of large cattle properties to residential real estate, the scope of Chinese money has led to fraught discussions about the scale of foreign influence in Australia. The results of the …
Last-minute changes to a new North American trade deal sank U.S. hopes of making Canada and Mexico allow higher-value shipments to the countries by online retailers, such as Amazon.com, a top Mexican official said on Friday. The revised pact was set to double the value of goods that could be …
U.S. job growth slowed sharply in September likely as Hurricane Florence depressed restaurant and retail payrolls, but the unemployment rate fell to near a 49-year low of 3.7 percent, pointing to a further tightening in labor market conditions. The Labor Department’s closely watched monthly employment report on Friday also showed …
Russian President Vladimir Putin on Wednesday strongly defended a prospective Russia-Germany natural gas pipeline as economically feasible and voiced hope that European Union nations will be able to resist U.S. pressure to thwart the project. U.S. officials have warned that Washington could impose sanctions on the undersea Nord Stream 2 …
Seven-year-old Ryan drew millions of views reviewing toys on YouTube. Now, he’s become a toy himself. Walmart is selling action figures in his likeness, putty with his face on the packaging and other toys under the Ryan’s World brand. It’s a bet that kids, who are spending more time tapping …
China’s hopes of negotiating a free trade pact with Canada or Mexico were dealt a sharp setback by a provision deep in the new U.S.-Mexico-Canada trade agreement that aims to forbid such deals with “non-market” countries, trade experts said on Tuesday. The provision specifies that if one of the current …
Mexico and Canada on Tuesday urged their governments to resolve a tariff dispute with the United States before signing a new trilateral trade deal that was unveiled this week. In late May, the Trump administration announced tariffs of 25 percent on steel imports and 10 percent on aluminum imports, prompting …
Palu, the Indonesian city devastated by an earthquake, tsunamis and mudslides, has strived to transform itself into a major trading hub, but the city’s buildings and other infrastructure were no match for the triple whammy that has left more than 1,200 people dead. The disasters that struck late Friday left …
Tesla announced record quarterly car production numbers on Tuesday but warned it was facing major problems with selling cars in China due to new tariffs that will force it to accelerate investment in its factory in Shanghai. The California-based electric carmaker, emerging from several months of turmoil around its Chief …
Iran’s currency unexpectedly rallied Tuesday after weeks of depreciation linked to renewed American sanctions, sending Iranians rushing to exchange shops to cash in. In the Iranian capital, money exchange shops offered 135,000 rials for one U.S. dollar at one point, drawing crowds of onlookers and those wanting to trade. Only …
One of Australia’s biggest power companies says it will close a major coal-fired power station as it invests in renewable sources despite pressure from the government in Canberra to keep it open. “Run down, dangerous and expensive” is how an Australian newspaper described the Liddell power plant, adding that it …
General Electric ousted its CEO, took a $23 billion charge and said it would fall short of profit forecasts this year, further signs that the century-old industrial conglomerate is struggling to turn around its vastly shrunken business. H. Lawrence Culp Jr. will take over immediately as chairman and CEO …
Fresh from clinching an updated North American commerce pact, U.S. President Donald Trump on Monday criticized Indian and Brazilian trade tactics, describing the latter as being “maybe the toughest in the world” in terms of protectionism. Addressing reporters at a White House event to celebrate the agreement of an updated …
The economy should grow at a healthy pace this year and next, though the Trump administration’s trade policy will likely act as a drag, a group of business economists said. Growth should reach 2.9 percent this year, according to a survey of 51 economists by the National Association for Business …
After intense last-minute discussions ahead of a self-imposed midnight deadline, U.S. and Canadian officials announced late Sunday they reached a trade deal, allowing a modified three-way pact with Mexico to replace the nearly quarter-century old North American Free Trade Agreement. The U.S.-Mexico-Canada Agreement (USMCA) – underpinning $1.2 trillion in annual …
After lengthy delays, an $8.2 billion revamp of a colonial-era rail line snaking from the Arabian Sea to the foothills of the Hindu Kush has become a test of Pakistan’s ability to rethink signature Chinese “Silk Road” projects due to debt concerns. The rail megaproject linking the coastal metropolis of …
Tesla and its CEO Elon Musk have agreed to pay a total of $40 million and make a series of concessions to settle a government lawsuit alleging Musk duped investors with misleading statements about a proposed buyout of the company. The settlement with the Securities and Exchange Commission allows Musk …
Canadian Foreign Affairs Minister Chrystia Freeland postponed her U.N. speech Saturday as free-trade talks between the U.S. and Canada intensified. Freeland had been scheduled to deliver Canada’s address to the General Assembly in New York, but Canada exchanged the slot with another country. Freeland may or may not give the …
U.S. consumer spending increased steadily in August, supporting expectations of solid economic growth in the third quarter, while a measure of underlying inflation remained at the Federal Reserve’s 2 percent target for a fourth straight month. Economists said Friday’s report from the Commerce Department should allay fears of the economy …
Tesla without Elon Musk at the wheel? To many of the electric car maker’s customers and investors, that would be unthinkable. But that’s what government securities regulators now want to see. The Securities and Exchange Commission has asked a federal court to oust Musk as Tesla’s chairman and chief executive …
Italy’s stock market fell sharply Friday after the new populist, euroskeptic government announced a sharp public spending increase that will push the budget deficit to 2.4 percent of gross domestic product next year, risking a collision with the European Union. The benchmark FTSE MIB dropped 2.2 percent early Friday, hours …