Month: December 2017

Management experts are always coming up with innovative ideas to improve the work environment, inspire employees and raise productivity. Big companies in Germany, like Lufthansa, Siemens, Daimler, BMW and Volkswagen's Audi, are bringing harmony to the workplace by having symphony orchestras and encouraging employees to play music together. Faiza Elmasry has the story. Faith Lapidus narrates. ...

In 2017, China's Xi Jinping rose to become the country's most powerful leader in decades. And as he shoulders more responsibility, analysts say the government in Beijing is likely to take more risks in 2018 at home and overseas, even as it deals with economic challenges at home, a nuclear North Korea and the looming threat of trade tensions with the United States. VOA's Bill Ide has this report. ...

Americans are traveling in record numbers this season, according to the American Automobile Association's (AAA) annual estimate, which forecasts more than 107 million will travel by road, rail or air between now and the start of 2018. Despite higher gas prices, travel volume is expected to be 3.1 percent higher than last year's holiday season, the association said. AAA said this season marks the ninth consecutive year of rising year-end holiday travel in the United States. Since 2005, it said, holiday travel has grown by 21.6 million, an increase of 25 percent. The majority of travelers, 97.4 million, will make their way to their destinations by road, while 6.4 million people are expected to fly to see family and friends or to take holiday vacations. Only 3.6 million are expected…

Nestle, which sells Arrowhead bottled water, may have to stop taking millions of gallons of water from Southern California's San Bernardino National Forest because state regulators concluded it lacks valid permits.   The State Water Resources Control Board notified the company on Wednesday that an investigation concluded it doesn't have proper rights to pipe about three-quarters of the water it currently withdraws for bottling.   "A significant portion of the water currently diverted by Nestle appears to be diverted without a valid basis of right," the report concluded.   Nestle Waters North America was urged to cut back its water withdrawals unless it can show it has valid water rights to its current sources or to additional groundwater.   The company, a division of the Swiss food giant, also was…

Bitcoin plunged by a quarter to below $12,000 on Friday as investors dumped the cryptocurrency in manic trading after its blistering ascent to a peak close to $20,000 prompted warnings by experts of a bubble. It capped a brutal week that had been touted as a new era of mainstream trading for the volatile digital currency when bitcoin futures debuted on CME Group Inc, the world's largest derivatives market on Sunday. Friday's steep fall bled into the U.S. stock market, where shares of companies that have recently lashed their fortunes to bitcoin or blockchain — its underlying technology — took a hard knock in early trading. The biggest and best-known cryptocurrency had seen a staggering twentyfold increase since the start of the year, climbing from less than $1,000 to as…

For retailers, Christmas can be a make or break season, but for a small Czech family owned business, Christmas means it is time to start looking ahead to next Christmas. VOA's Kevin Enochs reports. ...

The U.N. Security Council is expected to vote Friday on another round of targeted sanctions aimed at further restricting North Korea's crude oil imports, which fuel its illicit weapons programs. The proposed sanctions come in response to Pyongyang's November 28 launch of a newly developed intercontinental ballistic missile (ICBM) called a Hwasong-15, which the North Koreans claim is capable of delivering nuclear warheads anywhere in the continental United States.  It was Pyongyang's third ICMB test this year and its 20th ballistic missile launch of 2017. The United States drafted the text and negotiated it with China. It was circulated to the wider council membership on Thursday, and a vote is scheduled Friday at 1 p.m. EST (1800 UTC). "We hope there will be a consensus and vote — the sooner,…

Papa John's founder John Schnatter will step down as CEO next month, about two months after he publicly criticized the NFL leadership over national anthem protests by football players — comments for which the company later apologized. Schnatter will be replaced as chief executive by Chief Operating Officer Steve Ritchie on Jan. 1, the company announced Thursday. Schnatter, who appears in the chain's commercials and on its pizza boxes, and is the company's biggest shareholder, remains chairman of the board. Earlier this year, Schnatter blamed slowing sales growth at Papa John's — an NFL sponsor and advertiser — on the outcry surrounding players kneeling during the national anthem. Former San Francisco 49ers quarterback Colin Kaepernick had kneeled during the national anthem to protest what he said was police mistreatment of…

Construction of a long-awaited Thai-Chinese railway line that will link Thailand, Laos and China officially began on Thursday with a ground-breaking ceremony in the northeastern Thai province of Nakhon Ratchasima. The first phase of the project, a 250-km (155 mile) high-speed rail line linking Bangkok to Nakhon Ratchasima, is expected to be operational in 2021. The full line is expected to stretch 873 km (542 miles), linking Thailand and Laos at the northeastern Thai city of Nong Khai. It is part of Beijing's ambitious Belt and Road infrastructure drive, which aims to build a modern-day "Silk Road" connecting China to economies in Southeast and Central Asia by land and the Middle East and Europe by sea. But the Thailand project, which began in 2014 with formal talks, has been beset…

This remote town in Peru's southern Andes was supposed to serve as a model for how companies can help communities uprooted by mining. Named Nueva Fuerabamba, it was built to house around 1,600 people who gave up their village and farmland to make room for a massive, open-pit copper mine. The new hamlet boasts paved streets and tidy houses with electricity and indoor plumbing, once luxuries to the indigenous Quechua-speaking people who now call this place home. The mine's operator, MMG Ltd, the Melbourne-based unit of state-owned China Minmetals Corp, threw in jobs and enough cash so that some villagers no longer work. But the high-profile deal has not brought the harmony sought by villagers or MMG, a testament to the difficulty in averting mining disputes in this mineral-rich nation.…

The United States needs to encourage domestic production of a handful of minerals critical for the technology and defense industries, and stem reliance on China, U.S. Interior Secretary Ryan Zinke said Tuesday. Zinke made the remarks at the Interior Department as he unveiled a report by the U.S. Geological Survey (USGS), which detailed the extent to which the United States is dependent upon foreign competitors for its supply of certain minerals. The report identified 23 out of 88 minerals that are priorities for U.S. national defense and the economy because they are components in products ranging from batteries to military equipment. The report found that the United States was 100 percent net import reliant on 20 mineral commodities in 2016, including manganese, niobium, tantalum and others. In 1954, the U.S.…

Greece's parliament on Tuesday approved the 2018 state budget, which includes further austerity measures beyond the official end of the country's third international bailout next summer.    All 153 lawmakers from the left-led governing coalition backed the budget measures in a late vote, while the 144 opposition lawmakers present rejected them. Three were absent from the vote. Prime Minister Alexis Tsipras promised that the country would smoothly exit the eight-year crisis that has seen its economy shrink by a quarter and unemployment hit highs previously unseen during peacetime. Tsipras argued that international money markets — on whose credit Greece will have to depend once its rescue loan program ends — are showing strong confidence in the country's prospects, with the yield on Greek government bonds dropping to a pre-crisis low…

One of the most prominent people convicted in Latin America's largest corruption scandal left prison Tuesday for house arrest after serving two-and-a-half years behind bars at a time when many Brazilians are becoming disillusioned with the graft investigation once hailed as a political game-changer. Marcelo Odebrecht's release came a day after Brazil's top court halted investigations into several lawmakers, underscoring the limitations of the "Car Wash" investigation that uncovered nearly institutionalized corruption involving senior politicians in several countries and several major Brazilian companies. Odebrecht, who was CEO of his family's company of the same name, cooperated with prosecutors and testified that executives routinely paid bribes and made illegal campaign contributions to politicians in exchange for favors. He was originally sentenced to 19 years in prison but, once he began cooperating,…

A planned massive Republican tax overhaul has led Wall Street strategists to revise their 2018 corporate earnings forecasts sharply higher, but the jury is out on how long the accelerating effect on profits will last. The tax bill, which the U.S. House of Representatives approved on Tuesday, will cut the corporate income tax rate to 21 percent from 35 percent, beginning Jan. 1, and would be the biggest positive factor for U.S. earnings in 2018. A Senate vote was still awaited. Although there is a wide range of profit estimates for 2018, the expected tax plan benefit has strategists now calling for double-digit profit gains in 2018 over 2017, compared with their forecasts for mid-single-digit gains without the tax cuts. S&P 500 earnings growth for 2017 was an estimated 11.9…