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your ad hereThailand takes next steps to join BRICS
G7 leaders discuss economic threats from China, AI ethics
On Friday, U.S. President Joe Biden wrapped up meetings in Italy with leaders of the Group of Seven democracies. The leaders focused on threats they say China poses to the global economy and artificial intelligence ethics championed by Pope Francis. Patsy Widakuswara reports from Brindisi, Italy. …
your ad hereNew ‘crypto bill’ could mainstream digital currencies in US
The lack of laws governing digital currencies has slowed their expansion in the United States. Cryptocurrency investors tell VOA’s Deana Mitchell they are encouraged that the U.S. House of Representatives is considering a new legal framework for electronic money. …
your ad hereUS Federal Reserve sees inflation progress but envisions only one rate cut this year
washington — Federal Reserve officials said Wednesday that inflation has fallen further toward their target level in recent months but signaled they expect to cut their benchmark interest rate just once this year. The policymakers’ forecast for one rate cut was down from a previous forecast of three, because inflation, despite …
your ad hereWorld Bank: Inflation, poverty keep climbing in war-torn Myanmar
Bangkok — Myanmar’s economy shows no signs of recovering from the 2021 military coup, as civil war drives more workers abroad, pushes inflation into triple digits in some parts of the country and pulls it deeper into poverty, a new World Bank report says. “Livelihoods Under Threat,” launched Wednesday in Myanmar, …
your ad hereUS inflation cooled in May in sign that price pressures may be easing
WASHINGTON — Inflation in the United States eased in May for a second straight month, a hopeful sign that a pickup in prices that occurred early this year may have passed. The trend, if it holds, could move the Federal Reserve closer to cutting its benchmark interest rate from its 23-year …
your ad hereEU moves to hike tariffs on Chinese electric car imports, escalating trade spat
BRUSSELS — The European Union moved Wednesday to hike tariffs on Chinese electric vehicles, escalating a trade dispute over Beijing’s subsidies for the exports that Brussels worries is hurting domestic automakers. The European Commission, the EU’s executive arm, said it would impose provisional tariffs that would result in Chinese automakers facing …
your ad hereVolvo shifts EV production to Belgium to avoid China tariffs
G7 to warn small Chinese banks over Russia ties, sources say
Washington — U.S. officials expect the Group of Seven (G7) wealthy democracies to send a tough new warning next week to smaller Chinese banks to stop assisting Russia in evading Western sanctions, according to two people familiar with the matter. Leaders gathering at the June 13-15 summit in Italy hosted by …
your ad hereUS employers add a robust 272,000 jobs in May
WASHINGTON — America’s employers added a strong 272,000 jobs in May, accelerating from April and a sign that companies are still confident enough in the economy to keep hiring despite persistently high interest rates. Last month’s sizable job gain suggests that the economy is still growing steadily, propelled by consumer spending …
your ad hereNo more chicken Big Macs – EU court rules against McDonald’s in trademark case
Brussels — McDonald’s MCD.N does not have the right to use the term “Big Mac” for poultry products in Europe after not using it for them for five consecutive years, the region’s second top court said on Wednesday, a partial win for Irish rival Supermac’s in a long-running trademark dispute. The …
your ad hereUS farmers opt for soy to limit losses as all crop prices slump
Chicago — Mark Tuttle planted more soy and less corn on his northern Illinois farm this spring as prices for both crops hover near three-year lows and soybeans’ lower production costs offered him the best chance of turning a profit in the country’s top soy producing state. He even planted soybeans …
your ad hereAlgeria seeks to lure tourists to neglected cultural, scenic glories
ORAN, Algeria — Algeria wants to lure more visitors to the cultural and scenic treasures of Africa’s largest country, shedding its status as a tourism backwater and expanding a sector outshone by competitors in neighboring Morocco and Tunisia. The giant north African country offers Roman and Islamic sites, beaches and …
your ad hereCEOs got hefty pay raises in 2023, widening the gap with the workers they oversee
New York — The typical compensation package for chief executives who run companies in the S&P 500 jumped nearly 13% last year, easily surpassing the gains for workers at a time when inflation was putting considerable pressure on Americans’ budgets. The median pay package for CEOs rose to $16.3 million, up …
your ad hereNigeria workers down tools as economic crisis bites
Abuja, Nigeria — Nigerian unions began an indefinite strike on Monday, closing schools and public offices, impacting airports and shutting down the national power grid after talks with the government failed to agree a new minimum wage. The worst cost-of-living crisis in a generation in Africa’s most populous country has left …
your ad hereResurgent airlines soar towards passenger, revenue records
Dubai, United Arab Emirates — Airlines will fly almost five billion passengers in 2024 and revenues will near $1 trillion, both record highs, trade body IATA said on Monday as the industry roars back after the pandemic. The International Air Transport Association also said it expected the world’s airlines to post …
your ad hereOPEC+ agrees to extend output cuts to buttress oil prices
Vienna, Austria — The OPEC+ group of oil-producing nations agreed Sunday to extend their production cuts in a bid to support prices, as economic and geopolitical uncertainty looms over the market. The 12-member oil cartel and its 10 allies decided to “extend the level of overall crude oil production… starting …
your ad hereILO: Global unemployment rate falls slightly, but labor inequality persists
Employees of Samsung Electronics announce first-ever strike
US announces measures to help over 11,000 Cuban small businesses
WASHINGTON — The United States announced regulatory changes on Tuesday to increase support for the Cuban people and independent private sector entrepreneurs. The changes will enable more U.S. financial support for small private businesses in Cuba, enhance internet-based services on the island and broaden access to financial services. The new U.S. …
your ad hereMajor retailers are offering summer deals to entice inflation-weary shoppers
NEW YORK — Americans who spend Memorial Day scouting sales online and in stores may find more reasons to celebrate the return of warmer weather. Major retailers are stepping up discounts heading into the summer months, hoping to entice inflation-weary shoppers into opening their wallets. Target, Walmart and other chains have …
your ad hereUS independent booksellers continued to expand in 2023
NEW YORK — Three years ago, Erin Decker was a middle school librarian in Kissimmee, Florida, increasingly frustrated by the state’s book bans and worried that she couldn’t make a difference remaining in her job. So, she and fellow librarian Tania Galiñanes thought of a way to fight back. “We just …
your ad hereAverage US vehicle age hits record of 12.6 years
detroit — Cars, trucks and SUVs in the U.S. keep getting older, hitting a record average age of 12.6 years in 2024 as people hang on to their vehicles largely because new ones cost so much. S&P Global Mobility, which tracks state vehicle registration data nationwide, said Wednesday that the average …
your ad hereBiden releasing 1 million barrels of gasoline from Northeast reserve in bid to lower prices at pump
WASHINGTON — The Biden administration said Tuesday that it is releasing 1 million barrels of gasoline from a Northeast reserve established after Superstorm Sandy in a bid to lower prices at the pump this summer. The sale, from storage sites in New Jersey and Maine, will be allocated in increments of …
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