Arms control experts estimate that the dismantlement of North Korea’s nuclear program could take a decade to complete, and cost $20 billion, if a nuclear agreement is reached between U.S. President Donald Trump and North Korean leader Kim Jong Un when they meet in Singapore on June 12. “The hard …
Mexico put tariffs on American products ranging from steel to pork and bourbon on Tuesday, retaliating against import duties on metals imposed by President Donald Trump and taking aim at Republican strongholds ahead of U.S. congressional elections in November. Mexico’s response further raises trade tensions between the two countries and …
U.S. President Donald Trump is “seriously contemplating” trying to reach separate trade deals with Canada and Mexico instead of reshaping the more than two-decade-old North American Free Trade Agreement with both neighbors, a White House economic adviser said Tuesday. Trump economic adviser Larry Kudlow told Fox News, “He prefers bilateral …
Starbucks Corp, the world’s biggest coffee chain, said on Monday Executive Chairman Howard Schultz is stepping down, effective June 26. Schultz, who has been with Starbucks for nearly four decades, is credited with turning the company into a popular household name and growing it from 11 stores to more than …
German chemicals and pharmaceuticals giant Bayer will discard the name Monsanto when it takes over the controversial US seeds and pesticides producer this week, it said Monday. But Bayer executives insisted Monsanto practices rejected by many environmentalists, including genetic modification of seeds and deployment of “crop protection” technologies like pesticides, …
Institutional investors with $26 trillion in assets under management called on Group of Seven leaders on Monday to phase out the use of coal in power generation to help limit climate change, despite strong opposition from Washington. Government plans to cut greenhouse gas emissions were too weak to limit warming …
British civil servants have warned of shortages of food, fuel and medicines within weeks if the U.K. leaves the European Union without a trade deal, a newspaper reported Sunday. The Sunday Times said government officials have modeled three potential scenarios for a “no deal” Brexit: mild, severe and “Armageddon.” It …
China has warned that any agreements with Washington in their talks on settling a sprawling trade dispute “will not take effect” if threatened U.S. sanctions including tariff hikes go ahead. The statement Sunday came shortly after delegations led by U.S. Commerce Secretary Wilbur Ross and China’s top economic official, Vice …
Britain will not sign a trade agreement with the United States that is not in the country’s best interests, Trade Minister Liam Fox said Saturday after European Union officials filed a complaint with the World Trade Organization over stiff U.S. tariffs on steel and aluminum imports. “If we can’t come …
An anonymous bidder offered more than $3.3 million Friday for a private lunch with Warren Buffett, an amount just short of the record paid in 2016 and 2012 for the chance to pick the brain of the renowned investor and philanthropist. An online auction that raises money for the Glide …
The U.S. economy added 223,000 jobs in May, sending the unemployment rate to an 18-year low of 3.8 percent. The Labor Department says hourly wages also grew, bumping average worker pay up 2.7 percent from this time last year. And yet, despite the improving job picture, economists say there may …
Turkish Foreign Minister Mevlut Cavusoglu is scheduled to meet with U.S. Secretary of State Mike Pompeo in Washington on Monday amid souring relations between the NATO allies and trading partners over economic and other issues. The talks come as Turkish sectors, such as the major steel industry, reel from the …
U.S. employers extended a streak of solid hiring in May, adding 223,000 jobs and helping lower the unemployment rate to an 18-year low of 3.8 percent. The Labor Department says average hourly pay rose 2.7 percent from a year earlier, a slightly faster annual rate than in April. But …
Some U.S. trading partners are vowing to retaliate against U.S interests over President Donald Trump’s decision to impose a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports from the European Union, Canada and Mexico beginning on Friday. …
U.S. employers are thought to have hired at a solid pace in May and helped extend the economy’s nearly nine-year expansion, the second-longest on record, despite uncertainty caused by trade disputes. Economists have forecast that employers added 190,000 jobs last month and that the unemployment rate remained at a 17-year …
The United States’ allies in the G-7 vowed Thursday to push back against Washington’s decision to impose tariffs on their steel and aluminum exports, saying as they gathered for a meeting that the move threatens global growth. The escalating trade conflict between the United States and many key allies will …
When Oregon lawmakers created the state’s legal marijuana program, they had one goal in mind above all else: to persuade illicit pot growers to leave the black market. That meant low barriers to entry that also targeted long-standing medical marijuana growers, whose product is not taxed. As a result, weed …
President Donald Trump’s administration is planning to impose tariffs on European steel and aluminum imports after failing to win concessions from the European Union, a move that could provoke retaliatory tariffs and inflame trans-Atlantic trade tensions. The tariffs are likely to go into effect on the EU with an announcement …
The two largest resort operators in Las Vegas would lose more than $10 million a day combined if housekeepers, cooks and others go on strike, a possibility starting Friday, the union representing thousands of casino workers said Wednesday. The Culinary Union detailed how it thinks a one-month strike would impact …
U.S. Commerce Secretary Wilbur Ross said Wednesday a U.S.-European Union trade deal could still be reached even if the United States imposes tariffs on EU steel and aluminum imports. EU and U.S. officials are holding last-minute negotiations two days before U.S. President Donald Trump decides to apply tariffs on …
China vows it will fight back if the United States goes through with plans to impose huge tariffs on Chinese goods. President Donald Trump’s administration said in a statement Tuesday it planned to impose 25 percent tariffs on $50 billion of Chinese goods that contain “industrially-significant technology.” It said the …
Anglo American unit De Beers is launching a company to sell laboratory-produced diamonds for jewelry in a departure from its century-old business model of promoting natural stones. Real diamonds created over thousands of years remain the priority, but De Beers is responding to customer demand for more affordable jewelry using …
Consumer confidence rebounded in May, but households were a bit pessimistic about their short-term income prospects even as they expected strong job growth to persist, which could restrain consumer spending. The Conference Board said on Tuesday its consumer confidence index rose 2.4 points to a reading of 128.0 this month …
The White House says it plans to impose 25 percent tariffs on $50 billion of Chinese goods that contain “industrially-significant technology” as trade talks between United States and China continue. The White House said Tuesday the proposed tariffs are in response to China’s practices with respect to technology transfer, intellectual …
In an effort to stem the outcry over the arrest of two black men at one of its stores, Starbucks will close 8,000 U.S. stores Tuesday afternoon for anti-bias training for its employees. On April 12, two black men went to a Philadelphia store and did not buy anything; instead, …
China told the World Trade Organization’s dispute settlement body on Monday that U.S. accusations that Beijing forced companies to hand over technology as a cost of doing business in China were groundless. U.S. President Donald Trump has accused China of stealing American ideas and announced a plan for a $50 …