US Slaps Tariffs on Steel, Aluminum from EU, Canada, Mexico

All, Business, News
The United States is escalating trans-Atlantic and North American trade tensions, imposing a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports from the European Union, Canada and Mexico that will go into effect on Friday.   The move is prompting immediate retaliatory tariffs from the Europeans – expected to target such iconic American products as Harley Davidson motorcycles and Levi’s jeans, as well as Kentucky bourbon and Tennessee whiskey. “We look forward to continued negotiations, both with Canada and Mexico on the one hand, and with the European Commission on the other hand, because there are other issues that we also need to get resolved,” U.S. Commerce Secretary Wilbur Ross told reporters in a telephone briefing on Thursday. “This is a bad day for…


Oregon’s Marijuana Story a Cautionary Tale for California

All, Business, News
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 production boomed — with a bitter consequence. Now, marijuana prices here are in free fall, and the craft cannabis farmers who put Oregon on the map decades before broad legalization say they are in peril of losing their now-legal businesses as the market adjusts. Oregon regulators on Wednesday announced they will stop processing new applications for marijuana licenses in two weeks to address a severe backlog and ask state lawmakers to take up the issue next year. ​California takes heed…


Gravity Could Be Source of Sustainable Energy

All, News, Technology
In today's energy-hungry world, scientists are constantly revisiting every renewable resource looking for ways to increase efficiency. One researcher in the Netherlands believes even gravity can be harnessed to produce free electricity on a scale sufficient to power small appliances. VOA's George Putic has more. ...


Trump Planning Tariffs on European Steel, Aluminum

All, Business, News
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 by Friday’s deadline, according to two people familiar with the discussions. The administration’s plans could change if the two sides are able to reach a last-minute agreement, said the people, who spoke on condition of anonymity to discuss internal deliberations. Trump announced in March the United States would slap a 25 percent tariff on imported steel and a 10 percent tariff on imported aluminum, citing national security interests. But he granted an exemption to the EU and other U.S. allies;…


US Judge Dismisses Kaspersky Suits to Overturn Government Ban

All, News, Technology
A U.S. federal judge on Wednesday dismissed two lawsuits by Moscow-based Kaspersky Lab that sought to overturn bans on the use of the security software maker's products in U.S. government networks. The company said it would seek to appeal the decision, which leaves in place prohibitions included in a funding bill passed by Congress and an order from the U.S. Department of Homeland Security. The bans were issued last year in response to allegations by U.S. officials that the company’s software could enable Russian espionage and threaten national security. “These actions were the product of unconstitutional agency and legislative processes and unfairly targeted the company without any meaningful fact finding,” Kaspersky said in a statement. U.S. District Judge Colleen Kollar-Kotelly in Washington said Kaspersky had failed to show that Congress…


Malaysia Moves to Rebalance Relationship With China

All, Business, News
Malaysia and China are looking to re-balance ties as the new government of Prime Minister Mahathir Mohammad seeks to renegotiate billions of dollars of Chinese backed infrastructure spending, with the goal of reducing the country's national debt. China is Malaysia's leading foreign direct investor at over $3.38 billion, ahead of the U.S., Japan and Singapore, with major infrastructure deals negotiated during the previous government of Najib Razak. The main contract is a $14 billion (55 billion ringgit) East Coast Rail Link, as well as manufacturing, real estate and sovereign wealth fund bonds. Carl Thayer, a professor of politics at Australia's University of New South Wales, says Malaysia is seeking to move beyond anti-Chinese rhetoric that had been an undercurrent of the May 9 national polls. Thayer said during the campaign…


Ross: US-EU Trade Deal Could be Reached

All, Business, News
  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 Europe. The threat of tariffs has increased prospects of retaliation and a global trade war that could hinder the global economy. “There can be negotiations with or without tariffs in place,” Ross said at the Organization for Economic Cooperation and Development in Paris. “There are plenty of tariffs the EU has on us. It’s not that we can’t talk just because there’s tariffs." The Trump administration is also exploring possible limits on foreign auto imports, citing national security.  The EU…


Beijing Warns US Against Imposing Tariffs on Chinese Goods

All, Business, News
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 proposed tariffs are in response to China's practices with respect to technology transfer, intellectual property, and innovation.   Chinese Foreign Ministry Spokeswoman Hua Chunying blasted the Trump administration's apparent reversal Wednesday in Beijing. Hua warned the administration risked squandering its credibility in international relations with every "flip flop" and contradiction of its previous stance. Hua stressed Beijing is not afraid of engaging in a trade war, and will take "forceful" measures if the tariffs are imposed. The White House said…


Analysis: N. Korea Sees US Economic Handouts As Threat

All, Business, News
The U.S.-North Korea summit appears to be back on track, but Pyongyang is showing increased impatience at comments coming out of Washington that what leader Kim Jong Un really wants, even more than his nuclear security blanket, is American-style prosperity. It's a core issue for Kim and a message President Donald Trump shouldn't ignore as they work to nail down their summit next month in Singapore. Kim is as enthusiastic as Trump to see the summit happen as soon as possible, but the claim that his sudden switch to diplomacy over the past several months shows he is aching for U.S. economic aid and private-sector know-how presents a major problem for the North Korean leader, who can't be seen as going into the summit with his hat in his hand.…


Starbucks Closes Stores, Asks Workers to Talk About Race

All, Business, News
Starbucks, mocked three years ago for suggesting employees discuss racial issues with customers, asked workers Tuesday to talk about race with each other. It was part of the coffee chain's anti-bias training, created after the arrest of two black men in a Philadelphia Starbucks six weeks ago. The chain apologized but also took the dramatic step of closing its stores early for the sessions. But still to be seen is whether the training, developed with the NAACP Legal Defense and Education Fund and other groups, will prevent another embarrassing incident.  “This is not science, this is human behavior,” said Starbucks Chairman Howard Schultz. He called it the first step of many. The training was personal, asking workers to break into small groups to talk about their experiences with race. According…


Canadian Who Aided Yahoo Email Hackers Gets 5-Year Term

All, News, Technology
A Canadian accused of helping Russian intelligence agents break into email accounts as part of a massive 2014 data breach at Yahoo was sentenced Tuesday to five years in prison and ordered to pay a $250,000 fine. Karim Baratov, who pleaded guilty in November 2017 in San Francisco, was sentenced by U.S. District Judge Vince Chhabria, a spokesman for the U.S. Attorney's Office said. Baratov, a Canadian citizen born in Kazakhstan, was arrested in Canada in March 2017 at the request of U.S. prosecutors. He later waived his right to fight a request for his extradition to the United States. Lawyers for Baratov in a court filing had urged a sentence of 45 months in prison, while prosecutors had sought 94 months. "This case is about a young man, younger than most of the defendants in hacking cases throughout this…


US Warns Again on Hacks It Blames on North Korea

All, News, Technology
The U.S. government on Tuesday released an alert with technical details about a series of cyberattacks it blamed on the North Korean government that stretch back to at least 2009. The warning is the latest from the Department of Homeland Security and the Federal Bureau of Investigation about hacks that the United States charges were launched by the North Korean government. A representative with Pyongyang's mission to the United Nations declined comment. North Korea has routinely denied involvement in cyberattacks against other countries. The report was published as U.S. and North Korean negotiators work to resuscitate plans for a possible June 12 summit between leaders of the two nations. The FBI and DHS released a similar report in June 2017, when relations were tense between Washington and Pyongyang due to…


US Consumer Confidence Rebounds, House Prices Increase

All, Business, News
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 from a downwardly revised 125.6 in April. The index was previously reported at 128.7 in April. "If consumers don't step up their spending ... then the growth outlook this year may disappoint on the weak side," said Chris Rupkey chief economist at MUFG in New York. U.S. financial markets were little moved by the data amid a deepening political crisis in Italy. The dollar rose to a 10-month high against the euro, while U.S. Treasury yields fell. Stocks on Wall…


France to Beef Up Emergency Alert System on Social Media

All, News, Technology
France’s Interior Ministry announced plans on Tuesday to beef up its emergency alert system to the public across social media. The ministry said in a statement that from June during immediate threats of danger, such as a terror attack, the ministry’s alerts will be given priority broadcast on Twitter, Facebook and Google as well as on French public transport and television. The statement said that Twitter will give “special visibility” to the ministry’s alerts with a banner. In a specific agreement, Facebook will also allow the French government to communicate to people directly via the social network’s “safety check” tool, created in 2014.  The ministry said that this is the first time in Europe that Facebook has allowed public authorities to use this tool in this way. This announcement comes…


Starbucks to Close Stores for Anti-Bias Training

All, Business, News
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, they told the store manager they were waiting for a friend to join them. They were asked to leave and an employee called police, which led to their arrest, prompting protests and accusations of racism.  A video of the incident that was posted on social media became a major embarrassment for the coffee chain. Soon after, Starbucks announced a policy change, welcoming anyone to sit in its cafes or use its restrooms, even if they don't buy anything. Previously, it…


Starbucks Training a First Step, Experts Say, in Facing Bias

All, Business, News
Starbucks will close more than 8,000 stores nationwide Tuesday to conduct anti-bias training, the next of many steps the company is taking in an effort to restore its tarnished diversity-friendly image.   The coffee chain's leaders reached out to bias training experts after the arrest of two black men at a Philadelphia Starbucks last month.   The plan has brought attention to the little-known world of "unconscious bias training" used by corporations, police departments and other organizations. It's designed to get people to open up about implicit biases and stereotypes in encountering people of color, gender or other identities.   A video previewing the training says it will include recorded remarks from Starbucks executives as well as rapper and activist Common. From there, the company says, employees will "move into…


China Rejects US Charge of "Forced Technology Transfer’ at WTO

All, Business, News
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 billion tariff penalty against Chinese goods. Both sides launched legal complaints at the WTO over the issue earlier this year. "There is no forced technology transfer in China," Chinese Ambassador Zhang Xiangchen told the meeting, according to a copy of his remarks provided to Reuters. "According to the U.S.'s view, China forces the U.S. companies to transfer technologies by imposing joint venture requirements, foreign equity limitations and administrative licensing procedures," Zhang said. "But the fact is, nothing in these regulatory…


New Zealand Begins Mass Cull to Eradicate Cow Disease

All, Business, News
New Zealand will slaughter more than 100,000 cows in an effort to eradicate a bacterial disease. The government and agricultural leaders announced Monday that it will spend over $600 million over the next decade to rid the country of Mycoplasma bovis, which causes udder infections, pneumonia, arthritis and other illnesses. The bacteria is not a threat to humans, but can cause production delays on farms. "This is a tough call," said Prime Minister Jacinda Ardern. "But the alternative is to risk the spread of the disease across our national herd." Mycoplasma bovis has been detected on more than three dozen farms since it was first detected in New Zealand last year, leading to the slaughter of about 26,000 cattle. The country is the world's largest exporter of milk and dairy…


Companies Look to Space As the Next Frontier

All, News, Technology
The Trump administration is trying to give private companies a boost in their efforts to capitalize on space as a business venture. U.S. President Donald Trump Thursday signed a space policy directive aimed at streamlining regulations on commercial use of space. Trump signed the directive just days after Space X launched another rocket from California carrying satellites into orbit. WATCH: Trump space policy The launch and several others planned for June are examples of private industries' growing interests in space for commercial and scientific research. "It's a bit of a renaissance, a bit of a space 2.0. Finally, the commercial sector is starting to come back and do some really interesting things," said Will Marshall, co-founder and chief executive officer of Planet, a leading provider of geospatial data. The company…


Businesses Looking At Space as the Next Frontier

All, News, Technology
Space X recently launched another rocket from California carrying satellites into space - accelerating interest by more businesses and research facilities that now view space as an opportunity. At this year's Milken Institute Global Conference, those in the space business describe why orbiting the Earth is so exciting. VOA's Elizabeth Lee has details from Los Angeles. ...


New York Clothing Store Sells Gender Neutral Lifestyle

All, Business, News
New shops appear in New York City every day, but Phluid Project, which recently opened its doors on Broadway, is different. One of the first gender-fluid boutiques in the world, Phluid Project sells clothing for men, women and everyone in between. Both the clothes and the mannequins here are gender-neutral, and as an added selling point, its store owners say the prices are more than affordable. Elena Wolf visited the one-of-a-kind store, where no one feels out of place. ...


Russia, Turkey OK Pipeline Deal, End Gas Dispute

All, Business, News
Russian state gas giant Gazprom said Saturday it had signed a protocol with the Turkish government on a planned gas pipeline and agreed with Turkish firm Botas to end an arbitration dispute over the terms of gas supplies.  The protocol concerned the land-based part of the transit leg of the TurkStream gas pipeline, which Gazprom said meant that work to implement it could now begin. Turkey had delayed issuing a permit for the Russian company to start building the land-based parts of the pipeline, which, if completed, would allow Moscow to reduce its reliance on Ukraine as a transit route for its gas supplies to Europe. A source said in February the permit problem might be related to talks between Gazprom and Botas about a possible discount for Russian gas.…


Italy’s President Pressured to Accept Euroskeptic Minister

All, Business, News
Italy's would-be coalition parties turned up the pressure on President Sergio Mattarella on Saturday to endorse their euroskeptic pick as economy minister, saying the only other option might be a new election. Mattarella has held up formation of a government, which would end more than 80 days of political deadlock, over concern about the desire of the far-right League and anti-establishment 5-Star Movement to make economist Paolo Savona, 81, economy minister. Savona has been a vocal critic of the euro and the European Union, but he has distinguished credentials, including in a former role as an industry minister. Formally, Prime Minister-designate Giuseppe Conte presents his cabinet to the president, who must endorse it. Conte, a little-known law professor with no political experience, met the president on Friday without resolving the deadlock. "I hope no one has already decided 'no,' " League leader Matteo…


Kenya Moves to Regulate Digital-Fueled Lending Craze

All, Business, News
Kenya built a reputation as a pioneer of financial inclusion through its early adoption of a mobile money system that enables people to transfer cash and make payments on cellphones without a bank account. Now, a proliferation of lenders are using the same technology to extend credit to the banked and unbanked alike, saddling borrowers with high interest rates and leaving regulators scrambling to keep up. This week, the finance ministry published a draft bill on financial regulation that covers digital lenders for the first time. A key aim is to ensure that providers treat retail customers fairly, it said. “We have a lot of predatory lending out here, which we want to regulate,” Geoffrey Mwau, director general of budget, fiscal and economic affairs at the treasury, told reporters Thursday.…


Markets Disrupted as Italy’s Populists Negotiate Cabinet

All, Business, News
Italy's prime minister-designate, Giuseppe Conte, a political novice and obscure law professor accused of padding his resume, put the finishing touches to his cabinet lineup Friday. And initial reaction from financial markets was far from approving. Italian government bond prices slumped and the country's ailing banks saw their stock prices hit an 11-month low. Italy's outgoing economy minister, Pier Carlo Padoan, warned the incoming coalition government of the anti-establishment Five Star Movement (M5S) and far-right League not to underestimate the power of the markets. "The most worrying aspect of the program, which this government is working on, is its underestimation of the consequences of certain choices," Padoan told the Il Sole 24 Ore newspaper. M5S and the League unveiled their government agreement a week ago, after more than 70 days…


FBI: Foreign Hackers Have Compromised Home Router Devices

All, News, Technology
The FBI warned on Friday that foreign cybercriminals had compromised "hundreds of thousands" of home and small-office router devices around the world which direct traffic on the internet by forwarding data packets between computer networks. In a public service announcement, the FBI has discovered that the foreign cybercriminals used a VPNFilter malware that can collect peoples' information, exploit their devices and block network traffic. The announcement did not provide any details about where the criminals might be based, or what their motivations could be. "The size and scope of the infrastructure by VPNFilter malware is significant," the FBI said, adding that it is capable of rendering people's routers "inoperable." It said the malware is hard to detect, due to encryption and other tactics. The FBI urged people to reboot their…


Discharged and Jobless: US Veterans Seek Change in Hiring Rules

All, Business, News
Military veterans who were discharged for relatively minor offenses say they often can't get jobs, and they hope a recent warning to employers by the state of Connecticut will change that. The state's human rights commission told employers last month they could be breaking the law if they discriminate against veterans with some types of less-than-honorable discharges. Blanket policies against hiring such veterans could be discriminatory, the commission said, because the military has issued them disproportionately to black, Latino, gay and disabled veterans. At least one other state, Illinois, already prohibits hiring discrimination based on a veteran's discharge status, advocates say, but Connecticut appears to be the first to base its decision on what it deems discrimination by the military. Regardless of the state's reasons, veterans say, the attention there…


Broadcom’s Tan, CBS’s Moonves Among Highest-Paid CEOs

All, Business, News
Here are the highest-paid CEOs for 2017, as calculated by The Associated Press and Equilar, an executive data firm. The AP's compensation study covered 339 executives at S&P 500 companies who have served at least two full consecutive fiscal years at their respective companies, which filed proxy statements between January 1 and April 30. Compensation often includes stock and option grants that the CEO may not receive for years unless certain performance measures are met. For some companies, big raises occur when CEOs get a stock grant in one year as part of a multi-year grant. 1. Hock Tan Broadcom $103.2 million Change from last year: Up 318 percent 2. Leslie Moonves CBS $68.4 million Change: flat 3. W. Nicholas Howley TransDigm $61 million Change: Up 223 percent (Howley left…