Brazil will reinstate a mining ban in a vast area of the Amazon rainforest, the government announced on Monday, in an about-face that is a victory for environmentalists who feared deforestation. The Mines and Energy Ministry said in a statement that President Michel Temer’s administration had decided to revoke an …
Iraq on Sunday urged foreign countries to stop importing crude directly from its autonomous Kurdistan region and to restrict oil trading to the central government. The call, published in statement from Prime Minister Haider al-Abadi’s office, came in retaliation for the Kurdistan Regional Government’s plan to hold a referendum on …
Swiss voters rejected raising women’s retirement age to 65 in a referendum on Sunday on shoring up the wealthy nation’s pension system as a wave of Baby Boomers stops working. Authorities pushing the first serious reform of the pension system in two decades had warned that old-age benefits were increasingly …
Sunday’s national election in Germany will sound the starting gun for a renewed debate on fixing flaws in Europe’s shared currency to prevent future crises. France’s new president Emmanuel Macron has made it clear he is willing to push for change to strengthen the euro and is expected to …
Cheap solar panels imported from China and other countries have led to a boom in the U.S. solar industry, where rooftop and other installations have surged 10-fold since 2011. But two U.S. solar manufacturers say the flood of imports has led one to bankruptcy and forced the other to lay …
German carmaker Mercedes-Benz has announced plans to invest $1 billion to start making electric vehicles at its manufacturing plant in the southern U.S. state of Alabama. The luxury automaker said it will manufacture electric SUVs under Mercedes’ EQ subbrand at the plant in Tuscaloosa, Alabama in just more than three …
The United States will present new proposals and begin to weigh into thornier issues of the North American Free Trade Agreement in the third round of negotiations starting in Ottawa Saturday, U.S. chief negotiator John Melle said Thursday. The stepped-up negotiations come with four more rounds of talks left after …
When officials from Myanmar’s commercial capital Yangon toured six European countries in June, they were hoping to drum up investment in transport, energy and education. Instead, they were bombarded with questions about the country’s treatment of the Rohingya Muslim minority, who have long complained of persecution by the Buddhist majority …
An automated teller machine. The cash machine. In Britain, a cashpoint. ATMs, known for spitting out $20 bills (and imposing fees if you pick the wrong one), turn 50 years old this year. They’re ubiquitous – and possibly still a necessity, despite the big changes in how people pay for …
French labor unions staged fresh protests against President Emmanuel Macron’s contested labor law reforms Thursday — a day before he adopts them by executive order. The nationwide action backed by the powerful, hard-left CGT trade union, saw protesters take to the streets in the second round of public opposition to …
The number of Americans seeking unemployment benefits dropped by 23,000 last week to 259,000 as the economic impact of Hurricane Harvey began to fade. The Labor Department said Thursday that the less-volatile four-week average rose by 6,000 to 268,750. Overall, nearly 2 million Americans are collecting jobless aid, down …
The U.S. Federal Reserve left interest rates unchanged on Wednesday but signaled it still expects one more increase by the end of the year despite a recent bout of low inflation. The Fed, as expected, also said it would begin in October to reduce its approximately $4.2 trillion in holdings …
The U.S. Treasury is advising banks to be on the lookout for suspicious financial activity involving corrupt Venezuelan officials as the Trump administration tightens its financial noose around President Nicolas Maduro’s embattled socialist government. Wednesday’s advisory by the Financial Crimes Enforcement Network asks banks to keep watch for Venezuelan government …
The European Union and Canada will begin cutting import duties from Thursday on thousands of products and services in a reminder to Britain of the work it will take to replace the trade alliances it will give up when it leaves the EU. The Comprehensive Economic and Trade Agreement (CETA) …
The deficit in the broadest measure of U.S. trade rose to the highest level in more than eight years this spring, reflecting in part a drop in fines and penalties paid by foreign companies. The deficit in the current account increased to $123.1 billion, up 8.5 percent from an imbalance …
Toys ‘R’ Us, an iconic United States toy store, has filed for bankruptcy after struggling to compete with online retailers and racking up about $5 billion worth of debt. In a statement Monday, the company said it is voluntarily seeking relief through the U.S. bankruptcy process, but that its international …
As many as three dozen domestic and international flights at New Zealand’s Auckland Airport have been canceled Tuesday as it struggles to deal with a weeklong fuel shortage. New Zealand’s main airport has lost 70 percent of its jet fuel supplies since a digger ruptured the main pipeline that carries …
Two of Italy’s biggest coffee houses are reinforcing their brands with flagship cafes in Milan near the spot where U.S. rival Starbucks is set to begin operations next year. Lavazza opens its first flagship cafe in the coffee-obsessed city on Tuesday, not far from the renovated 19th century palazzo where …
Mexico’s economy minister said on Monday a successful retool of the North American Free Trade Agreement (NAFTA) would hinge on two or three complex areas that he called “elephants in the room,” just days before the next round of treaty talks in Canada. Speaking at an event in Mexico City, …
The WTO dispute settlement system is “deficient” and has often ruled in favor of free trade that overlooks details of a trade agreement, U.S. trade envoy Robert Lighthizer said on Monday. Speaking at the Center for Strategic and International Studies, Lighthizer, a trade lawyer, made clear that the administration was …
Alphabet unit Google has offered to display rival comparison shopping sites via an auction as part of an EU compliance order following a landmark fine for favoring its own service, four people familiar with the matter said on Monday. The proposal, submitted to the European Commission on August 29 following …
The man tasked with overseeing Texas’ Hurricane Harvey rebuilding efforts sees his job as “future-proofing” before the next disaster, but he isn’t empowered on his own to reshape flood-prone Houston or the state’s vulnerable coastline, which has been walloped by three major hurricanes since 2006. Texas A&M Chancellor John …
Florida’s economy has long thrived on one import above all: People. Until Irma struck this month, the state was adding nearly 1,000 residents a day – 333,471 in the past year, akin to absorbing a city the size of St. Louis or Pittsburgh. Every jobseeker, retiree or new birth, …
Scandal-hit Brazilian construction company Odebrecht said on Sunday it has sold its 33 percent stake in a massive subway project in Argentina’s capital Buenos Aires, but vowed to keep working in the country. Odebrecht is involved in a sprawling corruption saga and has already paid $3.5 billion in settlements in …
Prime Minister Narendra Modi inaugurated India’s biggest dam on Sunday, ignoring warnings from environment groups that hundreds of thousands of people will lose their livelihoods. The controversial Sardar Sarovar Dam on the Narmada river in the country’s western state of Gujarat that will provide power and water to three big …
Just a stone’s throw across a narrow waterway from the world’s largest gambling hub Macau, a former oyster farming island is being transformed into China’s newest tourism haven. Dubbed by some as China’s answer to Florida’s Orlando — a global tourist magnet with its cluster of major theme parks — …