The catastrophic IT failure at British Airways that ruined travel plans for 75,000 people has raised questions about some older airlines’ focus on costs to the detriment of investment in new computer systems. As British Airways resumed full service Tuesday, shares in its parent company, International Airlines Group, dropped 3 …
The head of Venezuela’s opposition-led congress on Monday blasted U.S.-based bank Goldman Sachs for a financial transaction that he said would prop up his country’s unpopular socialist government while exacerbating difficulties for ordinary Venezuelans. National Assembly President Julio Borges denounced the bank for “trying to make a quick buck off …
Cross-border fighting between Afghanistan and Pakistan has suspended trade worth millions of dollars and stranded hundreds of trucks loaded with fruits and vegetables at the border, where the produce stands to spoil in the rising heat. Pakistan had temporarily closed the Chaman border crossing, across from Afghanistan’s Spinboldak, after a …
A new ban imposed by India’s government on the sale of cows and buffaloes for slaughter to protect animals considered holy by many Hindus is drawing widespread protests from state governments and animal-related industries. Many state governments criticized the ban as a blow to beef and leather exports that will …
British Airways passengers continue to face delays, cancellations, and overcrowding Sunday at Heathrow Airport as the airline reels from a computer failure. The airline said that all long-haul flights will continue Sunday, but to avoid further overcrowding, passengers will only be allowed to enter the airport terminal 90 minutes before …
Saffron has long been one of the world’s most expensive spices. The saffron crocus that produces the spice grows mostly in parts of Europe, Iran and India. Now, a U.S. company seeking to “cultivate peace” is attracting attention to this historic spice and trying to develop new markets for saffron …
U.S. President Donald Trump has told “confidants,” including the head of the Environmental Protection Agency, Scott Pruitt, that he plans to leave a landmark international agreement on climate change, the Axios news website reported Saturday, citing three sources with direct knowledge. On Saturday, Trump said in a Twitter post he …
The U.S. economy expanded at a slightly faster pace than first estimated during the first quarter of this year. The Commerce Department’s Friday report shows expansion at a 1.2 percent annual rate in January, February and March. That is nearly twice as fast as the preliminary estimate, but slower than …
Africa loses an estimated $50 billion a year to illicit financial flows, leaving governments strapped for cash and dependent on development aid. The continent is “hemorrhaging” money because of the failure of countries to enact strong legislation to check money flows, says Rose Acha, Cameroon’s supreme state audit minister and …
OPEC and other oil nations meeting Thursday appeared set to extend their production cuts in an effort to shore up prices. But the intended impact could be short-lived. That’s due to U.S. shale producers. With crude prices above $50 a barrel from lows of last year, they are increasingly moving …
China recently rolled out a global economic initiative known as One Belt, One Road, named after the ancient Silk Road. Chinese President Xi Jinping says the initiative is aimed at promoting international cooperation, but former U.S. officials and some business executives are concerned that China is not keeping its doors …
Moody’s Investors Service downgraded China’s credit rating Wednesday – from Aa3 (Double A-3) to A1 – saying it expects China’s economy to erode in coming years as growth slows and its debt burden continues to rise. The downgrade comes as the government faces new financial challenges after years of credit-fueled …
The U.S. government has filed a civil lawsuit against automaker Fiat Chrysler, saying the company has used illegal software to fake emission results on its diesel vehicles. The civil complaint filed Tuesday follows initial accusations from the Environmental Protection Agency released in January. The software reportedly hid emissions of nitrogen …
U.S. President Donald Trump is proposing major changes in the way Washington’s $4.1 trillion budget is spent, with more money for the military, border security, and veterans. The just-published budget for next year also slashes money for programs that benefit the poor. Trump’s top budget official Mick Mulvaney says for …
Google already monitors your online shopping – but now it’s also keeping an eye on what you’re buying in real-world stores as part of its latest effort to sell more digital advertising. The offline tracking scans most credit and debit card transactions to help Google automatically inform merchants when their …
President Donald Trump is proposing to balance the federal budget within 10 years by slashing many social programs, including some that help the poor pay for food and medical care, called food stamps and Medicaid. Officials have outlined some new details of the president’s first spending plan. A president’s budget …
Gambia’s government used a court order Monday to seize assets belonging to exiled former President Yahya Jammeh. They include nearly 90 bank accounts and 14 companies linked to Jammeh. Justice Minister Abubacarr Tambadou says Jammeh stole $50 million in public funds before fleeing Gambia for Equatorial Guinea in January. Jammeh …
The European Commissioner for Economic and Financial Affairs, Pierre Moscovici, said on Sunday he was confident an agreement between Athens and its creditors could be found at a meeting of euro zone finance ministers on Monday in Brussels. Athens needs funds to repay 7.5 billion euros ($8.4 billion) of debt …
The world’s largest private equity fund, backed by Japan’s Softbank Group and Saudi Arabia’s main sovereign wealth fund, said Saturday that it had raised over $93 billion to invest in technology sectors such as artificial intelligence and robotics. “The next stage of the Information Revolution is under way, and building …
About 3 million Americans will enter the job pool this year as graduation ceremonies get underway at various colleges and universities across the United States. With unemployment at a 10-year low, 2017 is shaping up to be a good year for new grads. But as Mil Arcega reports, success for …
About three million American university graduates will enter the job market this year. And with unemployment currently at a 10-year low, it’s a good time to be graduating, says Nicole Smith, chief economist at Georgetown University’s Center on Education and the Workforce (CEW). “We are at one of the lowest …
A sizable majority of rural Americans backed Donald Trump’s presidential bid, drawn to his calls to slash environmental rules, strengthen law enforcement and replace the federal health care law. But last month, many of them struck a sour note after White House aides signaled that Trump would deliver on another …
An OPEC panel reviewing scenarios for next week’s policy-setting meeting is looking at the option of deepening and extending an OPEC-led deal to reduce oil output, OPEC sources said Friday. OPEC’s national representatives — officials representing the 13 member countries, plus officials from OPEC’s Vienna secretariat — met Wednesday and …
U.S. President Donald Trump’s administration says it has notified Congress it intends to renegotiate the North American Free Trade Agreement with Canada and Mexico. In a letter sent Thursday to congressional leaders, U.S. Trade Representative Robert Lighthizer said the administration plans 90 days of consultations with lawmakers over how to …
The Koch Brothers’ political network is preparing to spend millions of dollars to ensure their vision for tax reform isn’t lost in the increasing chaos consuming President Donald Trump’s administration. The network’s leading organizations, Americans for Prosperity and Freedom Partners, on Thursday released a set of general preferences for major …
As China hails the success of its first Belt and Road summit, major powers remain skeptical about the $1 trillion-dollar infrastructure and trade project. Analysts say while the ambitious plan has whet the appetite of developing nations, China missed an opportunity to get developed countries on board. The fact that …