Category: Business

Despite repeated calls by U.S. President Donald Trump for oil production to remain steady, the Saudi-led Organization of the Petroleum Exporting Countries, along with Russia and its allies, announced Friday they would cut their pumping of crude to reduce oil flows onto the global market…

The International Monetary Fund says it has approved a three-year loan of about $3.7 billion for Angola, which seeks to diversify its economy and curb corruption after a new president took office last year. The IMF said Friday that the loan aims to help the…

China’s export growth slowed in November as global demand weakened, adding to pressure on Beijing ahead of trade talks with Washington. Exports rose 5.4 percent from a year ago to $227.4 billion, a marked decline from the previous month’s 12.6 percent increase, customs data showed…

Wall Street capped a turbulent week of trading Friday with the biggest weekly loss since March as traders fret over rising trade tensions between Washington and Beijing and signals of slower economic growth.  The latest wave of selling erased more than 550 points from the…

 The U.S. International Trade Commission said on Friday it made a final determination that American producers were being harmed by imports of common alloy aluminum sheet products from China, a finding that locks in duties on the products. The ITC determination means that duties ranging…

U.S. stocks fell sharply Friday, erasing an early gain, as the market closed in on its third weekly decline in four weeks. Losses in technology and health care stocks outweighed gains elsewhere in the market. Energy companies led the gainers as crude oil prices rose…

U.S. employers added just 155,000 jobs in November, a slowdown from recent months but enough to suggest that the economy is expanding at a solid pace despite sharp gyrations in the stock market. The Labor Department said Friday the unemployment rate remained 3.7 percent, nearly…

U.S. stocks clawed most of their way back from a deep slide Thursday that at one point had wiped out the market's gains for the year.    An early plunge briefly knocked more than 700 points off the Dow Jones industrial average as the arrest…

The US trade deficit hit a 10-year high in October as Americans used a stronger dollar to snap up record imports, the government reported Thursday. The result showed the trade gap has continued to swell despite the punitive tariffs imposed this year on allies and…

OPEC countries were gathered Thursday to find a way to support the falling price of oil, with analysts predicting the cartel and key ally Russia would agree to cut production by at least 1 million barrels per day. Crude prices have been falling since October…

OPEC and Russia moved closer on Wednesday to agreeing cuts in oil production from next year despite pressure from U.S. President Donald Trump to reduce the price of crude. OPEC meets on Thursday in Vienna, followed by talks with allies such as Russia on Friday.…

A new study estimates 164 million people are migrating to foreign countries in search of work, an increase of 9 percent since 2013. The majority of migrant workers are men between the ages of 25 and 64, according to the International Labor Organization's second edition…

U.S. President Donald Trump, who rattled global markets Tuesday after declaring himself "a Tariff Man," predicted in a series of tweets Wednesday the United States and China would negotiate a new trade deal. Trump said China is planning to resume buying U.S. soybeans and natural…

Vimla Yadav, a farmer from India's Haryana state, says agriculture costs, such as fertilizers and seeds, have soared, yet produce prices have plunged, leaving her family of 10 with virtually no profit from their four-acre farm. "We don't even get the fruits of the labor…

President Donald Trump insists his new trade agreement with Mexico and Canada will address the exporting of U.S. manufacturing jobs overseas. That pledge, however, comes on the heels of auto giant General Motors' announcement of the layoff of 14,000 employees in five factories in the…

Right-wing President-elect Jair Bolsonaro said on Tuesday he plans to tackle the overhaul of Brazil's fiscally burdensome pension system with piecemeal reforms that can pass Congress, starting with an increase in the minimum age of retirement. He said reforms should start with the public social…

U.S. President Donald Trump said in a series of tweets Tuesday that talks to secure a trade deal with China "have already started" and if a "fair deal" is reached, "I will happily sign it."   Trump's comments come after leaders of the world's two…

Uber launched a new minibus service on Tuesday in traffic-mad Cairo, Egypt’s capital and one of the U.S. ride-sharing giant’s fastest-growing markets. A part of an aggressive push into emerging countries, the company hopes to draw millions of Egyptians into ride-sharing from chronically congested, pollution-filled…

The World Bank will give equal weight to curbing emissions and helping poor countries deal with the "disastrous effects" of a warming world as it steps up investments to tackle climate change in the first half of the 2020s, it said on Monday. The bank…

It's going to be a cozy Christmas this year as more Americans shop for comfortable apparel and accessories like fuzzy sweatshirts and sweaters, pajamas, socks and slippers. “I think we’re overstressed and the coziness is maybe an escape to a better time," says industry analyst…

A group of young female business owners in Guinea Bissau have banded together to increase their business knowledge. They say the cooperation is increasing sales. From street vendors to women who own their own shops, Adele Gomes likes to encourage young female entrepreneurs in Guinea…

U.S. President Donald Trump boasted Monday of his "very strong and personal relationship" with Chinese President Xi Jinping, declaring a new U.S.-China trade deal would immediately allow American farmers to sell more of their products to Beijing. Stock markets in Asia and Europe jumped sharply…

China's president on Sunday signed new trade deals with Argentina as the Asian giant expands its growing role in Latin American economies. Presidents Mauricio Macri of Argentina and Xi Jinping of China announced the more than 30 agriculture and investment deals during a state visit…

U.S. President Donald Trump has returned home from the Group of 20 meeting of the world’s top economies. After the curtain came down on the summit, the spotlight lingered on the leaders of the two top economies. As VOA’s White House bureau chief Steve Herman…

The data stolen from the Marriott hotel empire in a massive breach is so rich and specific it could be used for espionage, identity theft, reputation attacks and even home burglaries, security experts say. Hackers stole data on as many as 500 million guests of former…

A U.S. judge in California has granted preliminary approval of a $48 million settlement for investors who said Volkswagen AG made false and misleading statements about its excess diesel emissions.  Lawyers for the investors, who include police and other municipal pension funds, had estimated that the maximum they could have…

U.S. President Donald Trump, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto have signed the new U.S. Mexico Canada Agreement, a deal designed to replace the North American Free Trade Agreement. White House Correspondent Patsy Widakuswara reports. ...

During Andres Manuel Lopez Obrador's successful campaign for the Mexican presidency, his advisers met representatives of dozens of investment funds to allay fears about the leftist's plans, saying he prized economic stability and wanted to attract foreign capital. Initially, it worked. When Lopez Obrador won…