Iran’s currency hit new lows with just under a week before new U.S. economic sanctions are due to take effect on August 4, despite the appointment of a new central bank governor and a new economic team. Arab and Iranian media reported the Iranian riyal hit a new low of …
Building on President Donald Trump’s “Indo-Pacific” strategy, U.S. Secretary of State Mike Pompeo will announce a series of investment initiatives in Asia on Monday focusing on digital economy, energy and infrastructure. The announcement, to be made at a U.S. Chamber of Commerce forum in Washington, comes at a time when …
America’s dream of space exploration took its first official step 60 years ago Sunday when President Dwight Eisenhower signed a law authorizing the formation of NASA – the National Aeronautics and Space Administration. Although humanity had been staring at the stars and wondering since they were living in caves, it …
White House economic adviser Larry Kudlow said Sunday he believes the 4.1 percent growth the U.S. recorded in the last three months is sustainable in the coming months despite skepticism expressed by independent economists. “There’s just a lot of good things going on,” Kudlow told CNN. He said President Donald …
Agriculture ministers from the G-20 countries criticized protectionism in a joint statement Saturday and vowed to reform World Trade Organization (WTO) rules, but did not detail what steps they would take to improve the food trade system. In the statement, they said they were “concerned about the increasing use of protectionist nontariff trade measures, inconsistently with …
The U.K. government should increase oversight of social media like Facebook and election campaigns to protect democracy in the digital age, a parliamentary committee has recommended in a scathing report on fake news, data misuse and interference by Russia. The interim report by the House of Commons’ media committee, to …
President Donald Trump falsely claimed he’s pulled off “an economic turnaround of historic proportions.” Speaking at the White House Friday after the government reported that the economy grew at an annual rate of 4.1 percent in the second quarter, Trump declared that the gains were sustainable and would only accelerate. …
A sleek futuristic train that travels through a special tunnel and covers the distance between Los Angeles and San Francisco in 30 minutes. This was the dream of Elon Musk, the founder of SpaceX in 2013. And every year he’s getting closer to making that dream a reality. Late July …
Friday’s positive numbers on the U.S. economic growth are “very, very sustainable,” according to U.S. President Donald Trump. His comments came after figures showed U.S. GDP growth hit 4.1 percent in the second quarter. The question is whether that growth is sustainable, as VOA’s Bill Gallo reports from the White …
Twitter’s share price fell more than 20 percent Friday after the social media giant reported a drop in active users. Twitter said it had 335 million monthly users in the second quarter of the year, which was down a million from the amount of monthly users in the first quarter …
Facebook said it had deleted hundreds of offensive posts since a law banning online hate speech came into force in Germany at the start of the year that foresees fines of up to 50 million euros ($58 million) for failure to comply. The social network received 1,704 complaints under the …
Some European companies are rethinking their strategies to cushion the impact of trade tensions between the world’s two biggest economies, the United States and China. The focus will switch back to China after a truce on tariffs emerged from U.S. President Donald Trump’s meeting with European Commission President Jean-Claude Juncker …
The Latest on the aftermath of Facebook’s release of user growth and expectations for the company ahead (all times local): 4:50 p.m. The 19 percent loss in Facebook’s stock chopped $119 billion off its market value. It was the company’s worst trading day since going public in 2012, and among …
Social media giant Facebook, which has weathered storms about privacy and data protection, is now looking at cooler growth following a years-long breakneck pace. Shares in Facebook plummeted 19 percent to close at $176.26 Thursday, wiping out $100 billion. It was believed to be the worst ever single-day evaporation of market value …
Google launched a network of free Wi-Fi hotspots in Nigeria on Thursday, part of its effort to increase its presence in Africa’s most populous nation. The U.S. technology firm, owned by Alphabet Inc, has partnered with Nigerian fiber cable network provider 21st Century to provide its public Wi-Fi service, Google …
Facebook shares dived nearly 20 percent early Thursday after it signaled it expects weaker growth, pushing the Nasdaq decisively lower. About 25 minutes into trading, the tech-rich Nasdaq Composite Index was at 7,840.20, down 1.2 percent, falling from Wednesday’s record close. The Dow Jones Industrial Average rose 0.6 percent to …
Mattel, home of Barbie dolls and Hot Wheels, is cutting 2,200 jobs in order to save money after the closing of U.S. toy retail giant Toys R Us. The toymaker said the cuts amount to 22 percent of its nonmanufacturing employees worldwide. Mattel has about 28,000 employees. It also plans …
Mexican and Canadian officials are stressing that talks on the North American Free Trade Agreement will remain a three-way negotiation, despite suggestions by U.S. President Donald Trump that he might pursue separate trade deals with both countries. Mexican Foreign Minister Luis Videgaray says “Canada and Mexico not only share geography, …
Leaders from the five BRICS nations sounded the alarm over what South Africa’s president described as recent threats to multilateralism and sustainable global growth — a not-so-coded reference to a brewing trade war between the U.S. and BRICS’ wealthiest member, China. Chinese President Xi Jinping raised his concerns as the …
Sergio Marchionne, a charismatic and demanding leader who engineered two long-shot corporate turnarounds to save both Fiat and Chrysler from near-certain failure, died Wednesday. He was 66. The holding company of Fiat’s founders, the Agnelli family, announced in a statement Marchionne’s death after complications from surgery in Zurich. “Unfortunately …
Tariffs are set to top the agenda in a meeting Wednesday between U.S. President Donald Trump and European Commission President Jean-Claude Juncker. Juncker is coming to Washington with the hopes the European Union can avoid an all-out trade war by convincing Trump to hold off punitive tariffs on European cars. …
Qian Zhiya may be Starbucks’ worst nightmare. The 42-year-old Chinese entrepreneur says she is betting that her fledgling Luckin Coffee brand will eventually have more cafes in China than Starbucks, and she has Singapore’s sovereign wealth fund and other investors bankrolling her plan. Luckin, which only officially launched in January, …
Video games are so popular that one US company is betting that it can lure players to leave the comforts of gaming at home and travel to local arenas to play for bragging rights and maybe even some cash. Michelle Quinn reports. …
Harley-Davidson executives said Tuesday they had seen no U.S. sales hit so far over its decision to relocate some American manufacturing overseas as it navigates amid trade conflicts. “We’ve actually done quite a lot of consumer research… and we see no discernible shift in the sales patterns” or to brand …
The International Monetary Fund warned Tuesday there are few indications international trade imbalances are narrowing, a trend that could raise trade tensions and lower economic growth. In its annual External Sector Report, the IMF also said almost half of the world’s current-account balances are excessive and that current-account surpluses and …
Russian President Vladimir Putin, Chinese President Xi Jinping and other leaders of the BRICS emerging economies are gathering in South Africa for a summit likely to feature criticism of U.S. President Donald Trump’s wave of tariffs on foreign goods. The tariffs, and tit-for-tat taxes by U.S. trading partners, are fueling …