Donald Trump arrived at the World Economic Forum in the Swiss mountain resort of Davos on Thursday, the first serving U.S. president to attend since Bill Clinton in 2000. Analysts say many delegates are braced for a clash of competing visions for the global economy. Trump is expected to push …
your ad hereIn Davos, Gulf Arabs Slam an Absent Iran
Gulf Arab officials used the World Economic Forum in Davos on Wednesday to slam Iran for what they said was its destabilizing behavior in the region, taking advantage of Tehran’s conspicuous absence at the annual event. Iranian Foreign Minister Mohammad Javad Zarif had been a regular presence at the annual forum that brings …
your ad hereToys R Us, Citing Holiday ‘Missteps,’ Will Close up to 182 Stores
Toys R Us, a nostalgic favorite even as many shoppers moved to Amazon and huge chains like Walmart, plans to close up to 182 stores, or about 20 percent of its U.S. locations. The company that once dominated toy sales in the U.S. has been operating under bankruptcy protection since …
your ad hereProtests Roil Swiss Cities Ahead of Trump’s Davos Visit
Protesters have been pouring into the streets in several Swiss cities to express opposition to U.S. President Donald Trump’s attendance at this week’s World Economic Forum in Davos. Trump arrives Thursday in the Swiss ski resort and is slated to present his “America First” message in a speech Friday to …
your ad hereTrump Administration Prepares Flurry of Trade Moves
The Trump administration is set to announce a raft of trade decisions over the next months, ranging from curbs on foreign imports of steel and aluminum to steps to clamp down on China’s alleged theft of intellectual property. U.S. President Donald Trump has stressed his “America First” agenda in his …
your ad hereEurope’s Recovery Rolls On — And So Does European Central Bank Stimulus
Europe’s economy is on a roll — raising the question of exactly when the European Central Bank will end its extraordinary stimulus efforts. Bank President Mario Draghi will be at pains this week to leave that point open. No changes in stimulus settings or interest rates are expected at Thursday’s …
your ad hereWinners, Losers of Trump’s Solar Panel Tariff
President Donald Trump on Tuesday signed into law a steep tariff on imported solar panels, a move billed as a way to protect American jobs but which the solar industry said would lead to tens of thousands of layoffs. The following are some questions and answers about the decision: What …
your ad hereUS Stresses Lebanon Must Cut Hezbollah from Financial System
Lebanon must cut Iran-backed Hezbollah from the financial sector, a U.S. official on combating illicit finance said Tuesday, two weeks after Washington began a new push to disrupt the militant group’s global financing routes. On a two-day visit to Lebanon, the U.S. Treasury’s Assistant Secretary for Terrorist Financing Marshall Billingslea …
your ad hereNAFTA Negotiators Open Key Round of Talks; Trump Cites Progress
U.S., Canadian and Mexican officials opened a key round of negotiations to modernize NAFTA on Tuesday as President Donald Trump, who has regularly threatened to quit the trade pact, said the talks were going “pretty well.” Trump, vowing to undo what he portrays as disastrous trade deals, has in recent …
your ad hereTrump Move to Tax Some Imports Creates Its Own Risks for US
President Donald Trump’s move Tuesday to tax imported solar cells and washing machines is meant to make good on his vow to reverse decades of U.S. support for free trade and to protect American jobs from foreign competition. But the tariffs — already denounced by China, Germany and Mexico — …
your ad hereSenate Confirms Powell as Next US Fed Chair
The Senate on Tuesday approved President Donald Trump’s selection of Jerome Powell to be the next chairman of the Federal Reserve beginning next month. Senators voted 84-13 to confirm Powell to lead the nation’s central bank, a post that is considered the most powerful economic position in government. …
your ad hereJapan: Trans-Pacific Trade Pact, Without US, to Be Signed in March
Eleven countries aiming to forge an Asia-Pacific trade pact after the United States pulled out of an earlier version will sign an agreement in Chile in March, Japan’s economy minister said on Tuesday, in a big win for Tokyo. Trade officials had been meeting in Tokyo to resolve rifts including …
your ad hereChina, South Korea Protest US Tariffs on Washing Machines, Solar Panels
China and South Korea are protesting U.S. President Donald Trump’s decision to impose steep tariffs on washing machines and solar panels, a move that is fueling concerns in Asia that more U.S. protectionist measures are forthcoming. Trump said Tuesday that the U.S. was also considering raising tariffs on steel and …
your ad hereBig Pay Package for Musk, With Even Bigger Goals for Tesla
Elon Musk will remain at Tesla under a 10-year, all-or-nothing pay package that demands massive growth. The agreement, revealed Tuesday in a regulatory filing, requires that Tesla grow in $50 billion leaps, to a staggering $650 billion market capitalization. To put those demands in perspective, the electric car …
your ad hereUS Auto Parts Firms Urge NAFTA Compromise to Cover Engineering Work
A trade group representing U.S. auto parts makers on Monday urged the Trump administration to adopt NAFTA automotive rules that cover research, engineering, design and software development work as part of North American regional value content goals. The proposal from the Motor and Equipment Manufacturers Association (MEMA) was sent to …
your ad hereChina Invites Latin America to Take Part in ‘One Belt, One Road’
China invited Latin American and Caribbean countries to join its “One Belt, One Road” initiative on Monday, as part of an agreement to deepen economic and political cooperation in a region where U.S. influence is historically strong. Chinese Foreign Minister Wang Yi said the region was a natural fit for …
your ad hereEU Mulls New Link Between Budget, Civic Rights
The EU’s justice commissioner is working on a proposal that could oblige member states such as Poland, which has clashed with Brussels over reforms to its courts, to pass tests on the independence of their judicial systems before receiving funding. Vera Jourova said there was agreement within the executive European …
your ad hereILO: Global Unemployment Rate Stabilizing
The global unemployment rate is stabilizing after years in a slump due to a faltering economy, the International Labor Organization reports in “World Employment and Social Outlook: Trends 2018.” However, unemployment — which the ILO says stands at more than 192 million people globally — is expected remain persistently high …
your ad hereNAFTA’s Fate Uncertain Ahead of Montreal Round of Talks
The NAFTA trade agreement’s future hangs in the balance this week as negotiators from the United States, Canada and Mexico try to settle major differences over revamping a pact that President Donald Trump has threatened to abandon. Senior officials from the three nations will meet in Montreal for a week …
your ad herePuerto Rico Moves to Privatize Troubled Power Company
Puerto Rico’s governor announced Monday that he is moving to privatize the U.S. territory’s public power company after its slow, troubled recovery from Hurricane Maria focused new attention on longstanding accusations of mismanagement and corruption. Nearly 30 percent of customers on this island of 3 million people remain without power …
your ad hereTrump Slaps Stiff Taxes on Imported Solar Cells, Washing Machines
President Donald Trump imposed stiff tariffs on imported solar panels and washing machines Monday, aiming to protect U.S. manufacturers. The U.S. Trade Representative’s office made the recommendation to the president for the tariffs. It said the independent U.S. International Trade Commission found that such imports were a “substantial cause of …
your ad hereFrance Makes a New Push to Tempt Bankers to Paris Post-Brexit
France’s prime minister on Monday renewed a push to tempt bankers to Paris after Britain leaves the European Union by pledging to temporarily exempt expats from paying into state pension schemes and making more places available in bilingual schools. France has already announced measures to cut labor costs to make …
your ad hereSolar Industry on Edge as Trump Weighs Tariffs on Panels
Some in the U.S. solar-power industry are hoping a decision this week by President Donald Trump doesn’t bring on an eclipse. Companies that install solar-power systems for homeowners and utilities are bracing for Trump’s call on whether to slap tariffs on imported panels. The solar business in the U.S. has …
your ad hereTrump to Face Mixed Welcome at Elite Davos Gathering
In Davos this week, participants can experience “a day in the life of a refugee.” Or hear about ways to uphold the Paris climate accord and promote free trade. Or rub elbows with any number of leaders of African countries. Enter Donald Trump. The World Economic Forum in …
your ad hereAustralia, Canada Trade Blows over Wine
Australia has filed a formal complaint with the World Trade Organization that accuses Canada of placing “discriminatory” rules on the sales of imported wine. Canada is Australia’s fourth-biggest wine market. Officials in Canberra say rules in Canada unfairly discriminate against overseas wine. An official protest has been lodged with the …
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