Category: Business

Western corporate chiefs are continuing to pull out of an investment conference in Saudi Arabia next week, distancing themselves from questions about Riyadh's involvement in the disappearance and alleged killing of a U.S.-based Saudi journalist in Turkey. At first, many of the business leaders reserved…

An Uber driver in New York City kidnapped a woman who fell asleep in his vehicle, groped her in the back seat and then left her on the side of a highway in Connecticut, federal authorities said Tuesday. Harbir Parmar, 24, of Queens was charged…

The White House has announced plans to negotiate separate trade deals with Britain, the European Union and Japan. "We are committed to concluding these negotiations with timely and substantive results for American workers, farmers, ranchers and businesses," U.S. Trade Representative Robert Lighthizer said Tuesday. He added that…

Major U.S. stock markets made strong gains Tuesday as strong earnings reports encouraged investors. The Dow Jones industrial average gained 547.87 points, or 2.2 percent, to close at 25,798.42. The Standard & Poor's 500 rose 59.13 points, or 2.2 percent, to 2,809.92 with all 11 sectors finishing higher.…

Concerns about debt diplomacy on China's expansive infrastructure megaproject — the Belt and Road — have become an increasing source of debate from Asia to Africa and the Middle East. In recent weeks, more than $30 billion in projects have been scrapped and other loans and investments…

The U.S. government's budget deficit hit $779 billion in the fiscal year that ended Sept. 30, while spending increased and tax revenues remained nearly flat, the Treasury said Monday. It was the biggest deficit since 2012, and $113 billion more than the figure a year…

Zimbabwe's government says the country is emerging from a recent economic meltdown that saw shops run out of goods and motorists spend long hours in lines at gas stations. Economists say Zimbabwe's crisis is not over, as people have no confidence in the currency or…

More Americans are moving to smaller cities in search of a better quality of life. They're leaving places like Los Angeles, Chicago and New York for mid-sized cities such as Phoenix, Las Vegas and Dallas, according to an analysis of data from the U.S. Census…

Sears has filed for Chapter 11 bankruptcy protection, buckling under its massive debt load and staggering losses.  Sears once dominated the American retail landscape. But the big question is whether the shrunken version of itself can be viable or will it be forced to go…

An increase in world oil prices is helping Vietnam earn money that will quicken its already fast economic growth and may help the country build new infrastructure. The only red light: higher fuel prices among Vietnam's consumers. Vietnam, though not a major oil-producing nation like…

World stocks are climbing Friday after two days of sharp losses. Major U.S. stock indexes are up more than 1 percent, but they're still on track for their biggest one-week loss since late March. Technology and internet companies were some of the hardest hit over…

Just in case any of the global central bankers and finance ministers gathered in Indonesia missed the message delivered repeatedly this week, the host nation said it again Friday: Everyone stands to lose if trade wars are allowed to escalate. Indonesian President Joko Widodo didn't…

Elon Musk replied with a tweet saying "This is incorrect" after the Financial Times reported that outgoing Twenty-First Century Fox Inc. Chief Executive James Murdoch was the lead candidate to replace him as Tesla Inc. chairman. Tesla has until Nov. 13 to appoint an independent chairman of the board,…

Parties to a new global treaty to combat the illicit sale of tobacco products have taken the first steps toward cracking down on this multi-billion dollar trade.  At a three-day meeting at the headquarters of the World Health Organization in Geneva they have outlined a…

One of Donald Trump's top economic advisers says the president is not trying to improperly influence the U.S. central bank. The director of the National Economic Council, Larry Kudlow, spoke to the television network CNBC a day after Trump said the U.S. Federal Reserve is "loco" (crazy)…

The world's longest commercial flight, a 19-hour journey from Singapore to New York, took off Thursday from Changi Airport. The Singapore Airlines Airbus A350-900ULR will touch down at Newark Liberty International Airport early Friday after traveling 15,350 kilometers. Singapore Airlines previously flew the same route,…

Mat Beren and his friends used to drive by the vast greenhouses of southern British Columbia and joke about how much weed they could grow there. Years later, it's no joke. The tomato and pepper plants that once filled some of those greenhouses have been…

U.S. stocks posted their worst loss since February on Wednesday, the Dow Jones industrial average finishing the day down more than 800 points. The losses were widespread as bond yields remained high after steep increases last week. Companies that have been the biggest winners on the…

The Treasury Department has issued new rules on foreign investments into American companies that will give the government more power to block foreign transactions on national security grounds. The rules represent the latest escalation in an intensifying economic conflict between the United States and China.…

Dark, dirty and slow, Zimbabwe's trains, like much else in the impoverished southern African country, have seen better days. Once the preferred mode of transport for most Zimbabweans, the state-run rail service mirrors the decline in the country's economic fortunes during the last two decades…

Last month, Patrick Ho, a former Hong Kong official fighting foreign bribery charges in New York, thought he had finally received a break. In a dramatic move in the high-profile bribery case, prosecutors on Sept. 14 dropped all criminal charges against Cheikh Gadio, a former…

Ireland's finance minister boosted budget day spending for the second year in a row as the government warned of economic "carnage" if neighboring Britain crashes out of the European Union without a divorce deal. Having already pre-committed 2.6 billion euros ($2.99 billion) on increased public…

China promised Tuesday not to weaken its currency to boost exports during a tariff fight with Washington and rejected U.S. concern about the yuan's sagging exchange rate as groundless and irresponsible. Beijing has no intention of using "competitive devaluation," said a Foreign Ministry spokesman, Lu…

Foreign companies have been flocking to Vietnam. Earlier this year, one of the world’s biggest private equity firms Warburg Pincus added banking and logistics to its Vietnam portfolio, pushing its total investment into the country over the $1 billion mark. Auto players like JAC Motors…

Malaysia may introduce new taxes and sell assets such as land to pay down debt, Prime Minister Mahathir Mohamad said on Tuesday, as his administration struggles with liabilities of around 1 trillion ringgit ($240.67 billion). Mahathir, who unexpectedly won a general election in May, has…

American Airlines is telling employees to think twice before rebooking stranded customers on rival airlines, and regular economy-class passengers are the most likely to suffer when there are long delays or canceled flights. A new policy at American directs airport agents not to rebook economy…

The Royal Swedish Academy of Sciences has awarded this year's Nobel Prize for economics to Yale University's William Nordhaus and New York University's Paul Romer. The Academy said Nordhaus and Romer "have designed methods for addressing some of our time's most basic and pressing questions…

For the first time, researchers have been able to track the amount of Chinese investment in Australia.  From the purchase of large cattle properties to residential real estate, the scope of Chinese money has led to fraught discussions about the scale of foreign influence in…