German authorities have arrested the chief executive of Volkswagen’s Audi division, Rupert Stadler. He was arrested Monday as part of an investigation about cars Audi sold in Europe that are believed to have been equipped with software that turned emissions controls off during regular driving. Last week, Munich prosecutors raided …
Kenya’s President Uhuru Kenyatta has intensified his war on graft by announcing that all public servants will undergo a compulsory lifestyle audit to account for their sources of wealth. This latest announcement follows financial scandals that have rocked the country with revelations that millions of dollars were lost in various …
After two consecutive years of decline, remittances, the money migrant workers send home, increased in 2017 according to figures released by the World Bank. Remittances are a significant financial contribution to the well-being of families of migrant workers and to the sustainable development of their countries of origin. The U.N. …
Seventy percent of Canadians say they will start looking for ways to avoid buying U.S.-made goods in a threat to ratchet up a trade dispute between Prime Minister Justin Trudeau and U.S. President Donald Trump, an Ipsos Poll showed Friday. The poll also found a majority of Americans and Canadians are united in support of Trudeau …
A set of retaliatory tariffs released by China on Friday includes a plan to tax American lobster exports, potentially jeopardizing one of the biggest markets for the premium seafood. Chinese officials announced the planned lobster tariff along with hundreds of other tariffs amid the country’s escalating trade fight with the …
President Donald Trump has approved a plan to impose punishing tariffs on tens of billions of dollars worth of Chinese goods as early as Friday, a move that could put his trade policies on a collision course with his push to rid the Korean Peninsula of nuclear weapons. Trump has …
AT&T Inc may close its $85 billion deal to buy Time Warner Inc under an agreement reached on Thursday with the U.S. government, which might still appeal a case seen as a turning point for the media industry. AT&T said it could close the deal by Friday. The government has …
Nyet. Non. Nein. No. That’s the answer the Supreme Court gave Thursday to the question of whether federal courts in the United States must accept statements from foreign governments about their own laws as binding. Justice Ruth Bader Ginsburg wrote for a unanimous court that a “federal court should accord …
Caterers in Washington tweeted a photo of maroon sashimi appetizers served to 700 guests attending the governor’s inaugural ball last year. They were told the tuna was from Montauk. But it was an illusion. It was the dead of winter and no yellowfin had been landed in the New York …
Leaders of the U.S. central bank raised interest rates slightly Wednesday and signaled that rates are likely to go higher as the economy continues to strengthen. At the end of two days of deliberation in Washington, the Federal Reserve set the key interest rate a quarter of a percent higher, …
German authorities fined Volkswagen nearly $1.2 billion Wednesday for its role in a diesel emissions scandal that first surfaced in the United States in 2015. Prosecutors found the German automaker failed to properly monitor its engine development department. The lack of oversight resulted in global sales of nearly 11 million …
Shares of embattled Chinese telecommunications giant ZTE plunged more than 40 percent Wednesday, its first day of trading after agreeing to pay a $1 billion fine to the United States for violating trade sanctions. ZTE nearly went under after the Trump administration imposed a seven-year ban on the company from …
When 13-year-old Mounir fled Syria for Lebanon with his family after surviving a rocket strike that nearly killed them, he thought he would be safe. In fact, he had swapped one form of danger for another – sexual harassment and verbal abuse. With his father unable to work for health …
The savannah scrubland where Chief João Ponce once hunted deer and wild boar in Brazil has given way to neat rows of soy and corn that a tractor sprays with herbicide. In the next field, silver grain silos shimmer in the hot sun. Ponce is head of the Uirapuru indigenous …
There is no end to demand for what many consider to be Italy’s white gold, the marble from the Tuscan town of Carrara, a name synonymous with the very best money can buy in the world today. It is no secret, and it is not new. The quarrying in these …
The European Central Bank will on Thursday weigh when and how to end its bond-buying stimulus program — an exit that will have far-reaching consequences across the economy, from long-suffering savers to Europe’s indebted governments. The bank, which sets monetary policy for the 19 countries that use the euro, has …
The separatist campaign in Indian-administered Kashmir broke out into major violence in 1989. More than 60,000 people are estimated to have died and 10,000 to have disappeared in the disputed Himalayan region. That has pushed their families into poverty. For the region’s youth, earning a living has been a challenge, …
The United States will not lift the ban on doing business with Chinese telecommunications giant ZTE until ZTE pays a $1 billion fine for trade violations and places $400 million more in escrow. The U.S. Commerce Department released details of its settlement it made with ZTE, under President Trump’s …
International Monetary Fund chief Christine Lagarde led an attack by global economic organizations on U.S. President Donald Trump’s “America First” trade policy Monday, warning that clouds over the global economy “are getting darker by the day.” Trump backed out of a joint communique agreed by Group of Seven leaders in …
South Sudan’s central bank said Monday it will issue higher denomination banknotes, enabling citizens to carry fewer notes as rampant inflation continues to devalue the local currency. The bank said it would introduce a 500-pound bill, worth $1.5 U.S. dollars, into circulation this month. Currently the largest note in circulation …
President Donald Trump tweeted out more criticism of U.S. trade partners Monday, including allies in Europe and Canada, adding to his declarations that the United States will no longer tolerate what he has called “trade abuse.” “Sorry, we cannot let our friends, or enemies, take advantage of us on Trade …
A radical plan to transform Switzerland’s financial landscape by barring commercial banks from electronically creating money when they lend was resoundingly rejected by Swiss voters on Sunday. More than three quarters rejected the so-called Sovereign Money initiative, according to the official result released from the Swiss government. All of the …
Italy’s new coalition government has no intention of leaving the euro and plans to focus on cutting debt levels, Economy Minister Giovanni Tria said on Sunday, looking to reassure nervous financial markets. Italian government bonds have come under concerted selling pressure on fears the government will embark on a spending …
The Shanghai Cooperation Organization (SCO)is holding its first summit since India and Pakistan joined the bloc which is widely seem by observers as a means for blocking American influence in Central Asia. The founding members of the alliance are China, Russia, Kazakhstan, Uzbekistan, Kyrgyzstan and Tajikistan. The summit is being …
Canadian Prime Minister Justin Trudeau announced Saturday that nearly $3 billion in pledges has been raised to help fund the education of vulnerable girls and women around the world. Canada will contribute $300 million to the campaign. Germany, Japan, Britain and the World Bank are among the additional supporters. The …
Prime Minister Theresa May will gather together squabbling British ministers at her country residence after this month’s European Union summit to settle on details of a much-anticipated Brexit policy paper. May has yet to agree on some of the fundamental details of what type of trading relationship she wants to have with the European Union …