Category: Business

Mexico's central bank said Tuesday that it was creating a cybersecurity unit, following a hack on a domestic payments system at the end of April that affected Mexican banks. The central bank said in a notice in the government's daily gazette that the new unit…

U.S. lawmakers on Tuesday rejected any plan by President Donald Trump to ease restrictions on China's ZTE Corp, calling the telecommunications firm a security threat and vowing not to abandon legislation clamping down on the company. Trump on Monday had defended his decision to revisit…

Mexico's economy minister said that he saw diminishing chances for a new North American Free Trade Agreement ahead of a Thursday deadline to present a deal that could be signed by the current U.S. Congress. U.S. House Speaker Paul Ryan has said that the Republican-controlled…

People nixing vacations to Hawaii's Big island has cost the tourism industry millions of dollars as the top attraction, Kilauea volcano, keeps spewing lava. Cancellations from May through July have hit at least $5 million, said Ross Birch, executive director of the island's tourism board.…

Uber Technologies’ growth has slowed as a series of scandals has allowed the ride-hailing company’s chief U.S. competitor, Lyft, to grab more market share, digital research firm eMarketer said in a report on Monday. The research firm has lowered its forecasts for Uber’s growth for…

U.S. President Donald Trump urged for a quick conclusion to a renegotiated North American Free Trade Agreement during a phone call Monday with Canadian Prime Minister Justin Trudeau.  The White House said Trump "underscored the importance" of quickly reaching a deal, while Trudeau’s office said…

U.S. President Donald Trump said Sunday that he is trying to find a way to let giant Chinese technology firm ZTE "to get back into business, fast" after the U.S. had barred the company from using American components. "Too many jobs in China lost," Trump…

There's a push to level the playing field for women in India, where women account for 42 percent of university graduates but only 24 percent are hired as entry level professionals. Of these, 19 percent are likely to reach senior level management. To make matters…

Senior officials from the United States, Canada and Mexico ended the latest round of talks on the North American Free Trade Agreement without any major breakthroughs on how to renegotiate the deal. U.S. Trade Representative Robert Lighthizer said Friday after a week of talks in…

British Prime Minister Theresa May and U.S. President Donald Trump agreed in a phone call Friday that talks were needed to discuss how U.S sanctions on Iran would affect foreign companies operating in the country. Trump's decision to pull the United States out of the Iranian nuclear deal…

Mexico will not be rushed into revamping the North American Free Trade Agreement (NAFTA) just to get a deal, Economy Minister Ildefonso Guajardo said on Friday ahead of trilateral talks with his U.S. and Canadian counterparts. Guajardo said he would meet at 1 p.m. EDT…

Burden or business opportunity? A new U.N.-backed study of refugees from the World Bank's International Financial Corporation argues for the latter. The IFC researchers examined one of Africa's oldest and largest refugee camps, Kakuma in northwest Kenya. What they found is a growing consumer base…

A senior United Nations official says trade protectionism, rising private and corporate debt, and shortcomings in revenue raising are growing challenges to the economic outlook for the Asia Pacific. Shamshad Akhtar, executive secretary of the UN’s Economic and Social Commission for Asia and the Pacific…

Mexico on Thursday indicated time was running out to see whether NAFTA nations could agree a new deal in the short term while Canada struck a upbeat tone, saying top-level talks this week had achieved a great deal. Major differences remain between the three members…

Virginia Wallen is a wife, a mother of three, and a woodworker. She achieved what she has never imagined she would — turning her carpentry hobby into a business. The entrepreneur isn’t just succeeding in her new career, she’s tearing down stereotypes and building a…

Wall Street surged on Wednesday as surging oil prices boosted energy stocks following U.S. President Donald Trump's decision the previous day to quit a nuclear agreement with Iran. Gains were broad and volume was high, with all but the utilities and telecom sectors advancing as investors who had moved to…

 A New York hedge fund founder was arrested Wednesday on charges that he exaggerated his company's performance by over $200 million to impress and preserve investors. Anilesh Ahuja, 49, of Manhattan, was charged with conspiracy, securities fraud and wire fraud. Federal officials said that the…

Saudi Arabia is monitoring the impact of the U.S. withdrawal from the Iran nuclear deal on oil supplies and is ready to offset any shortage but it will not act alone to fill the gap, an OPEC source familiar with the kingdom's oil thinking said.…

A United Nations agency said on Tuesday an "unjust" U.S. financial and trade embargo on Cuba had cost the country's economy $130 billion over nearly six decades, coming up with the same estimate as the island's communist government. Although many U.S. allies join Washington in…

President Donald Trump will allow year-round sales of renewable fuel with blends of 15 percent ethanol as part of an emerging deal to make changes to the federal ethanol mandate.   Republican senators and the White House announced the deal Tuesday after a closed-door meeting,…

With the threat of tariffs and counter-tariffs between Washington and Beijing looming, Chinese buyers are canceling orders for U.S. soybeans, a trend that could deal a blow to American farmers if it continues. At the same time, farmers in China are being encouraged to plant more…

Trade negotiations between China and the United States continue early next week in Washington D.C., but analysts say after the first round, the differences between the two sides are huge. Some believe the differences are so fundamental and big that an escalation of tariffs is…

The Trump administration is unveiling a multibillion-dollar roster of proposed spending cuts but is leaving this year's $1.3 trillion catchall spending bill alone.   The cuts wouldn't have much impact, however, since they come from leftover funding from previous years that wouldn't be spent anyway.…

Australia's government is expected to release annual spending plans on Tuesday with a focus on winning votes at elections due within a year. Cheaper craft beer plus personal tax cuts compensated by strengthening company tax revenue have been flagged as well as more investment on…

Nestle is paying more than $7 billion to handle global retail sales of Starbucks's coffee and tea outside of its coffee shops. The deal comes with a huge price tag for Nestle, but it could pay off big for the Swiss company. Its Nescafe and…

A small band of Belgian monks are planning to start producing their own beer again, more than 200 years after invading French troops stopped all brewing at the abbey. The men from Grimbergen Abbey started making beer in 1128, but stopped in 1797 when the…

Afghanistan's poverty rate has worsened sharply over the past five years as the economy has stalled and the Taliban insurgency has spread, with more than half the population living on less than a dollar a day, a survey published on Monday showed. The Afghanistan Living…

An innovative consumer awareness campaign will be launched this summer in several cities in the United States. The campaign is aimed at preventing the waste of food that costs the world billions of dollars and has severe consequences on global food security and the environment.…