Category: Business

Chilean President Sebastian Pinera said on Tuesday that his overhaul of the country's tax structure would "modernize" Chile's revenue system and stimulate investment by local and foreign companies. The conservative leader said in a televised address that reform would, among other proposals, calibrate taxes paid…

Mexico risks losing long-term passenger growth and billions of dollars if it fails to go through with building a new hub in the capital to alleviate congestion, an executive with the International Air Transport Association (IATA) said on Tuesday. Mexico's incoming government last week postponed…

Claudio Belotti knows he cut the denim that became the jeans Meghan Markle wore on one of her first outings as the fiancee of Britain's Prince Harry.   That's because he cuts all of the fabric for Hiut Denim Co., a 7-year-old company that makes…

South Africa's state-owned Land Bank said on Monday a plan to allow the state to seize land without compensation could trigger defaults that could cost the government 41 billion rand ($2.8 billion) if the bank's rights as a creditor are not protected. Land Bank is…

The bull market in U.S. stocks is about to become the longest in history.   If stocks don't drop significantly by the close of trading Wednesday, the bull market that began in March 2009 will have lasted nine years, five months and 13 days, a…

Beverage giant PepsiCo on Monday purchased Israel's fizzy drink maker SodaStream for $3.2 billion, a boon for a company that has enjoyed a resurgence after being targeted by anti-Israel boycotters in the past. PepsiCo said it was acquiring all SodaStream's outstanding shares at $144 per…

U.S. oil giant ConocoPhillips says it has reached an agreement with Venezuela's state-owned oil company to recover nearly $2 billion it was awarded as part of a decade-old expropriation dispute. Monday's statement from Houston-based Conoco says that PDVSA has agreed to recognize the judgement by…

Malaysian Prime Minister Mahathir Mohamad says he hopes China will understand his country's "internal fiscal problems" as he seeks to renegotiate billions of dollars worth of Beijing-funded projects. Mahathir spoke Monday in Beijing during a joint news conference with Chinese Premier Li Keqiang. Before traveling…

"For the first time since early 2010, Greece can stand on its own feet," the European Stability Mechanism (ESM) rescue fund said as Athens exited its final, three-year international bailout program on Monday. The ESM allocated about $71 billion over the past three years, after…

Uncertainty reigned in Venezuela Saturday after President Nicolas Maduro unveiled a major economic reform plan aimed at halting the spiraling hyperinflation that has thrown the oil-rich, cash-poor South American country into chaos. Ahead of a major currency overhaul Monday, when Caracas will start issuing new…

A budding trade war between the U.S. and Turkey over a detained American pastor is having global consequences. A sharp drop in Turkey's lira, inflation and the threat of loan defaults, could drag down other economies, particularly in emerging markets. Turkey's troubles are causing ripple…

Turkey's currency this month has suffered heavy falls triggered by U.S.-Turkish tensions over the ongoing detention of an American pastor. Washington's threat to impose new economic sanctions sparked another steep currency drop Friday. Dorian Jones reports on the economic fall out for people in Istanbul.…

Tesla shares dropped nearly 9 percent in value Friday, amid reports of CEO and co-founder Elon Musk meeting with the U.S. Securities and Exchange Commission (SEC). Musk wrote on Twitter last week of his plans to take the company private for a price of $420…

Stocks rose late in the day Friday as investors welcomed signs of progress in resolving the trade dispute between the U.S. and China. The Wall Street Journal reported that the countries hope to have a resolution by November. Industrial, health care and basic materials companies…

Unions at Air France-KLM voiced concern after the company appointed Benjamin Smith as the new CEO with the support of the French state. The company said Thursday that Smith, who is 46 and was previously Air Canada's chief operating officer, will fill the role by…

President Donald Trump says he's asking federal regulators to look into the effectiveness of the quarterly financial reports that publicly traded companies are required to file. In a tweet early Friday, Trump said that after speaking with "some of the world's top business leaders," he's…

Many of Asia's currencies are losing value against the U.S. dollar this year as China and the United States fight over trade, but analysts say policymakers are handling the dip better now than during past down cycles. China, India, Indonesia and Myanmar, to name just…

A federal court in New York has charged 22 Chinese importers with smuggling nearly half-a-billion dollars in counterfeit goods into the United States from China. The fake products include such popular luxury items as Louis Vuitton bags, Michael Kors wallets, and Chanel perfume. Twenty-one of…

Russia says the latest U.S. sanctions imposed on Russian, Chinese, and Singaporean companies are “destructive" and "useless.”   The U.S. penalized the three companies Wednesday, accusing them of helping North Korea avoid international sanctions. The Russian Foreign Ministry said Thursday the new U.S. sanctions come…

A small number of Turks are responding to their president's call to boycott American electronic goods by posting videos in which they smash iPhones with bats, hammers and other blunt instruments. In one video , a man collects iPhones from several youths squatting in front…

Mexico's economy minister on Wednesday said that Mexico and the United States may not meet an August goal to finish bilateral talks to revamp the NAFTA trade deal, which is beset by disagreements over automobile trade rules and other issues. Top Mexican officials started their…

Singapore is the setting for new Hollywood movie 'Crazy Rich Asians' - an adaptation of a best-selling novel that explores the insatiable consumerism of new money and old-world opulence in a continent producing more billionaires than anywhere else. While the low-tax financial hub is often…

Toyota is likely to make 120,000 more cars a year in the Chinese port city  of Tianjin as part of a medium-term strategy that's gathering pace as China-Japan ties improve, said four company insiders with knowledge of the matter. The Japanese auto maker’s plan to…

U.S. retail sales rose more than expected in July as households boosted purchases of motor vehicles and clothing, suggesting the economy remained strong early in the third quarter. The Commerce Department said on Wednesday retail sales increased 0.5 percent last month. But data for June…

Turkey on Wednesday announced tariff hikes on a range of U.S. goods in the latest back-and-forth move amid a deteriorating relationship between the two countries. The extra tariffs apply to imports of vehicles, alcohol, coal, rice and cosmetics. Turkish Vice President Fuat Oktay said on…

New Zealand school teachers went on strike on Wednesday for the first time in more than 20 years, challenging the Labor government's plans to balance promised fiscal responsibility against growing demands to increase public sector salaries. The government's first budget in May was stretched to…

Turkish President Recep Tayyip Erdogan, embroiled in a bitter dispute with the U.S., a NATO ally, contended Sunday the plunging value of his country's lira currency amounted to a "political plot" against Turkey. Erdogan, speaking to political supporters in the Black Sea resort of Trabzon,…

Iran’s official IRNA news agency is reporting that China’s state-owned petroleum corporation has taken a majority share of the country’s South Pars gas project after French oil and gas company Total announced it would pull out because renewed U.S. economic sanctions against Iran. The Saturday…