Author: Busman

U.S. consumer sentiment tumbled in early January to its lowest level since President Donald Trump was elected more than two years ago as a partial shutdown of the federal government and financial market volatility stoked fears of a sharp deceleration in economic growth. The drop in confidence reported by…

The European Union insisted Friday that agriculture be kept out of the EU-U.S. trade negotiations, despite Washington’s wishes to include the vast sector, and said any overall deal will be limited in scope. The EU Commission announced its pro posals for a negotiating mandate from…

An array of crises will keep several world leaders away from the annual World Economic Forum (WEF) in Davos next week, which takes place against a backdrop of deepening gloom over the global economic and political outlook. Anxieties over trade disputes, fractious international relations, Brexit…

U.S. Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for Jan. 30, the Wall Street Journal reported Thursday, citing people familiar with the internal deliberations. But Trade Representative Robert…

Indonesian President Joko Widodo has accused his election rival of allowing corrupt candidates on his legislative ticket and failing to include women in senior positions. Widodo and former General Prabowo Subianto, along with their running mates, faced off Thursday in the first of five debates…

Workers around Tunisia went on strike Thursday to demand higher pay in a standoff with a government struggling to reduce unemployment, poverty and social tensions. All flights in and out of the North African country's main airport were cancelled, and schools nationwide were closed. Ports,…

John C. Bogle, who simplified investing for the masses by launching the first index mutual fund and founded Vanguard Group, died Wednesday, the company said. He was 89. Bogle did not invent the index fund, but he expanded access to no-frills, low-cost investing in 1976…

Female employees at Citigroup Inc around the world are paid just 71 percent of what men earn, the giant bank said on Wednesday, declaring its intentions to close its gender pay gap. A Citigroup shareholder group that sought data on the pay gap said the…

The Ports of Los Angeles and Long Beach on Wednesday said they set all-time records for moving cargo in 2018, after U.S. retailers and manufacturers pulled forward imports to avoid higher tariffs on Chinese goods. The Port of Los Angeles, North America's busiest container port,…

A Gillette ad for men invoking the #MeToo movement is sparking intense online backlash, with accusations that it talks down to men and groups calling for a boycott. But Gillette says it doesn't mind sparking a discussion. Since it debuted Monday, the Internet-only ad has…

More than 3,200 government, business, academics and civil society leaders will address issues of globalization, climate change and other matters of world importance next week at the annual World Economic Forum in the plush Swiss Alpine village of Davos. The list of participants reads like…

Although it is unclear if the United States and China will be able to meet a 90-day deadline and strike a deal on trade by March 2, the tussle is clearly adding to uncertainty about the future fate of the Chinese government’s strategic plan named…

French President Emmanuel Macron is formally launching a "grand debate" to try to appease the yellow vest movement following weeks of anti-government protests. Macron heads Tuesday to Grand Bourgtheroulde, a small town in Normandy, where he is to meet about 600 mayors and local officials.…

China’s trade surplus with the United States rose dramatically in 2018, despite a tit-for-tat tariff war with the U.S. that has roiled global markets. The surplus stood at a record-high $323.3 billion, compared to $275.8 billion recorded the year before.  Data released Monday by China’s…

The auto industry gathered in Detroit on Sunday, on the eve of the last winter edition of North America's premiere auto show, as carmakers grapple with a contracting market and uncertainty in the year ahead. Concerns over the health of the global economy and a…

Saudi Arabia's energy minister said Sunday that major oil producers need to do better to narrow swings in prices that dip below $60 a barrel and rise above $86. "I think what we need to do is narrow the range... of volatility," Khalid al-Falih said.…

Zimbabwe will introduce a new currency in the next 12 months, the finance minister said, as a shortage of U.S. dollars has plunged the financial system into disarray and forced businesses to close. In the past two months, the southern African nation has suffered acute…

Elon Musk's rocket company SpaceX will reduce its workforce by about 10 percent of the company's more than 6,000 employees, it said on Friday. The company said it will "part ways" with some of its manpower, citing "extraordinarily difficult challenges ahead." "To continue delivering for…

The United States on Friday signaled it would not bow to the European Union's request to keep agriculture out of planned U.S.-EU trade talks, publishing negotiating objectives that seek comprehensive EU access for American farm products. The objectives, required by Congress under the "fast-track" trade…

Uganda's growing debt is sustainable, and the country is not at risk of losing state assets to China, the country's finance minister, Matia Kasaija, said this week. Uganda's auditor-general warned in a report released this month that public debt from June 2017 to 2018 had…

Despite the U.S. stock market recovery, Macy's and American Airlines' revised revenue forecasts for 2018 have sent their stock prices spiraling. Other retail stocks fell, too, including J.C. Penney, Nordstrom and Kohl's. The reports come amid news of another iconic department store, Sears, fighting for…

The 800,000 federal workers who are not being paid or are working without pay during the partial government shutdown were the first to feel its impact. But as Anna Kook reports, other segments of the economy are also being hurt, especially in Washington, home to…

U.S. officials expect a visit from China’s top trade negotiator this month in Washington, signaling that higher-level discussions are likely to follow this week’s talks with midlevel officials in Beijing as the world’s two largest economies try to reach a deal to end a tit-for-tat…

China’s Commerce Ministry says that the United States and Beijing made progress in discussions about structural issues such as forced technology transfers and intellectual property rights during trade talks this week. But the lack of details from both sides following the meetings highlights the uncertainty…

The United States says talks in Beijing on ending a bruising trade war focused on Chinese promises to buy more American goods. But it gave no indication of progress on resolving disputes over Beijing’s technology ambitions and other thorny issues. China’s Ministry of Commerce said…

Deep in a provincial region of northwestern Turkey, it looks like a mirage — hundreds of luxury houses built in neat rows, their pointed towers somewhere between French chateau and Disney castle. Meant to provide luxurious accommodations for foreign buyers, the houses are however standing…

With the March deadline approaching for Britain to depart the European Union, there are concerns that Britain's exit could undermine Western sanctions against countries like Iran, Syria and North Korea. Analysts note that Britain has been influential in persuading the EU to take action, saying…

Concerns have arisen that European sanctions against countries like Iran, Syria and North Korea could be undermined by Britain’s upcoming departure from the European Union. Britain will be free to implement its own sanctions regime — and while both Brussels and London insist they will…