Category: Business

U.S. President Donald Trump's tax reform could bring almost $2 trillion back to the United States as U.S. firms repatriate cash piles from foreign affiliates, a U.N. report said Monday. Ending the incentive to hoard cash overseas could produce a stimulus effect in the United…

U.S. stocks plunged in highly volatile trading on Monday, with both the S&P 500 and Dow Industrials indices slumping more than 4.0 percent, as the Dow notched its biggest intraday decline in history with a nearly 1,600-point drop and Wall Street erased its gains for…

Recent losses on global financial markets, including those in the U.S., have some investors concerned about expectations for their holdings and plans for the future. The Dow Jones Industrial Average declined 2.5 percent Friday, its largest percentage drop since Britain's decision in June 2016 to…

Over the last decades, growing economic hardships forced people in cities and villages around the world to leave their hometowns to find work in other countries. Dreaming of returning one day and enjoying a better life where they grew up, many invested most of their…

U.S. Secretary of State Rex Tillerson's Latin American tour took him Saturday to Argentina, where he talked with officials about conservation and diplomacy. Traveling from Mexico City after meeting with the Mexican president and other senior officials on Friday, Tillerson arrived in Bariloche, a lakeside…

The window opened Friday for oil, gas, uranium and coal companies to make requests or stake claims to lands that were cut from two sprawling Utah national monuments by President Trump in December, but there doesn’t appear to be a rush to seize the opportunities.…

Britain has made clear its desire to be part of China's so-called 'One Belt One Road Initiative' — a cornerstone of President Xi Jinping's vision to boost Chinese investment and influence across Asia, Europe and Africa. There are, however, concerns over the financial and humanitarian…

Another solid month for the U.S. economy as American companies added 200,000 new workers to their payrolls last month. The unemployment rate remained unchanged at 4.1 percent, but wages are rising. Although the number of unemployed Americans continues to fall, recruiting agencies say they've never…

U.S. stocks slumped Friday, pulling down the Dow Jones industrial average by more than 650 points and handing the market its worst week in two years. Technology, banks and energy stocks accounted for much of the broad slide. Several major companies, including Exxon Mobil and…

Stocks closed sharply lower in New York on Friday, extending a weeklong slide, as the Dow Jones industrial average plunged more than 600 points.  The drop capped stocks' worst week in two years. The Dow's drop was its biggest in percentage terms since June 2016. Several giant…

Britain has made clear its desire to be part of China's so-called "One Belt One Road" initiative — a cornerstone of President Xi Jinping's vision to boost Chinese investment and influence across Asia, Europe and Africa. But there are concerns about the financial and humanitarian…

With an eye on general elections next year, India has announced several populist measures that include a health insurance program for 500 million people, and billions of dollars for rural development and affordable housing in its annual budget.   Finance Minister Arun Jaitley said the…

When Janet Yellen leaves the Federal Reserve this weekend after four years as chair, her legacy will include having shattered a social barrier: She is the first woman to have led the world's most powerful central bank, a position that carries enormous sway over the…

A new political dawn in Zimbabwe has sparked talk among farmers of land reform and the return of some whites who lost their land and livelihoods to President Robert Mugabe during a 37-year rule that drove the economy to collapse. Mugabe, 93, resigned in November…

Many refugees would like to buy low-carbon stoves and lights but poor access in camps and a lack of funding is forcing them to rely on "dirty and expensive" fuels, a report said Tuesday. Millions of refugees worldwide struggle to access energy for cooking, lighting…

A colorful paint job has transformed one of Mumbai's drab hilltop slums into a tourist destination, even prompting comparisons with Italy's picturesque Amalfi Coast. During a recent journey on a Mumbai metro train, Dedeepya Reddy was struck by the grim appearance of a slum in…

Hackers who stole around $530 million worth of cryptocurrency from the Coincheck exchange last week — one of the biggest such heists ever — are trying to move the stolen “XEM” coins, the foundation behind the digital currency said on Tuesday. NEM Foundation, creators of…

Middle Eastern countries should pursue fiscal policies to support growth and build broader tax bases to fund infrastructure projects and social spending, the head of the International Monetary Fund said Tuesday. "A key priority is building broader and more equitable tax bases. All must pay their…

Venezuela is abandoning the most-overvalued of its two official foreign exchange rates, which had been used for state imports of food and medicine amid a worsening economic crisis.   The move could potentially encourage businesses to import more and put more goods on store shelves…

Tourism to Cuba, one of the few bright spots in its ailing economy, has slid in the wake of Hurricane Irma and the Trump administration's tighter restrictions on travel to the Caribbean island, a Cuban tourism official said on Monday. Although the number of visitors…

The European Union says that if U.S. President Donald Trump initiates unfair trade measures against the 28-nation bloc, it would stand ready "to react swiftly and appropriately."   In a weekend interview, Trump said he was annoyed with EU trade policy since he claims the…

Top trade representatives from Canada, Mexico and the United States are set to give an update Monday on the process of renegotiating the North American Free Trade Agreement, while people familiar with the process say a final deal could be pushed far beyond a March…

Ingvar Kamprad, who founded Sweden's IKEA furniture brand and transformed it into a worldwide business empire, has died at the age of 91. Kamprad died Saturday of pneumonia in the southern Swedish region of Smaland where he grew up on a farm, and with some…

Why has Mumbai's largest slum, which packs some one million people in about two square kilometers, emerged as an unlikely stop for foreign tourists? The draw is not images of squalor and poverty in the heart of India's largest city, but a place where thriving…

U.S. President Donald Trump touted the continued growth of the U.S. economy on Sunday, saying it is "better than it has been in many decades." "Businesses are coming back to America like never before," Trump said in a Twitter remark, a likely theme of his…

Officials trying to settle differences over how to update the North American Free Trade Agreement have made some progress and hope politicians decide the talks should continue, Steve Verheul, Canada's chief negotiator, told Reuters on Saturday. The United States, Canada and Mexico are due to…

In a surprise move, the U.S. Environmental Protection Agency reversed itself Friday and stopped the approval process for the proposed Pebble Mine copper and gold mine project in southwest Alaska’s Bristol Bay region. “It is my judgment at this time that any mining projects in…

President Donald Trump's "America First" policy on trade aims to reverse decades of lopsided exchange by withdrawing from international trade deals, renegotiating others and raising tariffs on foreign-made goods destined for the U.S. But, in a connected global economy, analysts warn the U.S. could find…