The magnate behind LVMH is to incorporate Christian Dior into his luxury goods empire in a multibillion-dollar deal.   It’s the latest business coup for businessman Bernard Arnault, who has expanded his LVMH empire to include dozens of leading luxury brands — from high-end champagne and whiskies, to exclusive Vuitton …

The financial industry is closely watching Alibaba affiliate Ant Financial’s attempt to acquire Dallas-based MoneyGram International, the world’s second biggest money transfer company after Western Union. Ant is offering $1.2 billion, more than U.S.-based competitor Euronet Worldwide. If successful, the deal would turn Ant Financial into a financial behemoth with …

U.S. Senator Dan Sullivan on Monday called on both the American and Chinese governments to exercise “true reciprocity” in relations, including trade and diplomacy.    The Republican senator from Alaska, in a speech concerning Chinese outbound investment, and in an interview with VOA afterward, said China has been aggressively buying …

General Motors’ Venezuelan subsidiary has sent a message to almost 2,700 staff informing them that they are no longer employed by the company and had received severance pay in their bank accounts, according to two employees. A Venezuelan court last week ordered the seizure of the company’s Valencia plant, ruling …

The CEO of one of the Middle East’s largest carriers said Monday passenger numbers to the United States have dipped slightly over fears by some Muslim passengers that their visas may be rejected upon arrival, but expressed confidence in President Donald Trump as a “very good businessman.”   Qatar Airways …

More than 700 global leaders in business, government and civil society from 65 countries are meeting to explore the opportunities and challenges offered by eCommerce, with a special focus on developing countries. The future of e-commerce could not be brighter. The  UN Conference on Trade and Development or UNCTAD is …

European shares opened sharply higher and the euro briefly vaulted to five-month peaks on Monday after the market’s favored candidate won the first round of the French election, reducing the risk of another Brexit-like shock. The victory for pro-EU centrist Emmanuel Macron, who is now expected to beat right-wing rival …

A fungus that causes “vomitoxin” has been found in some U.S. corn harvested last year, forcing poultry and pork farmers to test their grain, and giving headaches to grain growers wrestling with massive supplies and low prices. The plant toxin sickens livestock and can also make humans and pets ill. …

Lawmakers from coal-mining states are pushing to extend health benefits for more than 22,000 retired miners and widows whose medical coverage is set to expire at the end of April. West Virginia Sen. Joe Manchin and other coal-state Democrats threatened to shut down the government over the issue in December, …

Motorists in Pyongyang are scrambling to fill their tanks as gas stations begin limiting services or closing amid concerns of a spreading shortage.   A sign outside one station in the North Korean capital said Friday that sales were being restricted to diplomats or vehicles used by international organizations, while …

Even after disembarking from North Korea’s Air Koryo plane at Pyongyang airport, it’s difficult to miss the airline’s brand. The Air Koryo conglomerate makes cigarettes and fizzy drinks, besides owning a taxi fleet and petrol stations – and all have the same flying crane logo as the carrier. The military-controlled …

U.S. President Donald Trump has ordered a full review of the powers given to government regulators to oversee the banking and finance industries following the financial meltdown of 2008. Trump went to the Treasury Department on Friday to sign three executive orders that start the process of fulfilling his campaign …

Greece far exceeded its international lenders’ budget demands last year, official data showed on Friday, posting its first overall budget surplus in 21 years even when debt repayments are included. The primary surplus — the leftover before debt repayments that is the focus of International Monetary Fund-European Union creditors — …

Canadian Prime Minister Justin Trudeau said Friday that he plans to be respectful and engage the United States with a fact-based approach to solving problems a day after Donald Trump called Canada a “disgrace” for policies that hurt American farmers.   Trudeau said during a news conference alongside visiting Italian …

The U.S. government says it will not waive trade sanctions for U.S. companies seeking to drill for oil in Russia, including for U.S. oil giant ExxonMobil. Treasury Secretary Steven Mnuchin made the announcement Friday, indicating that the United States would maintain a tough stance on sanctions against Russia. “In consultation …

The global flow of remittances declined in 2016 for the second year in a row, potentially reducing access to health care, education and food for millions of families in developing nations. Friday’s report from World Bank experts says migrants sent $429 billion from wealthy nations back to their home countries …

A judge on Friday ordered Volkswagen to pay a $2.8 billion criminal penalty in the United States for cheating on diesel emissions tests, blessing a deal negotiated by the government for a “massive fraud” orchestrated by the German automaker. U.S. District Judge Sean Cox stuck to the plea deal during …

Young people from Southern European countries who migrated for work opportunities are unlikely to move back home anytime soon. Thousands migrated north after the economic crisis hit their countries hard. Unemployment rates in countries such as Spain, Greece, Cyprus, Italy and Portugal remain excessively high between — 25 percent and …

As economic and political leaders gather in Washington for the annual spring meetings of the World bank and International Monetary Fund — new warnings Thursday about the impact of rapid change on the global economy. At issue, the pace of technological advance and its Impact on jobs, particularly in developing …

U.S. officials are reviewing Venezuela’s seizure of General Motors’ assets in the country, U.S. State Department spokesman Mark Toner said Thursday. “We are reviewing the details of the case,” Toner said in a statement, saying the United States hoped to resolve the matter “rapidly and transparently.” GM said Wednesday that …

President Donald Trump has ordered an investigation into whether foreign steel imports are damaging U.S. national security, saying his administration would “fight for American workers and American-made steel.” The probe is authorized under a rarely used section of a 1962 trade law that allows a president to restrict imports in …

Former Brazilian Finance Minister Antonio Palocci told a court hearing Thursday that he could provide details of a political kickback scheme, which could threaten former President Luiz Inacio Lula da Silva’s chances of running in the 2018 election. In the video of the hearing released Thursday, Palocci made the offer …

Argentina hopes to have an agreement on a free-trade deal between the European Union and the South American Mercosur bloc by year’s end, its foreign minister said Thursday. The European Union and Mercosur launched trade negotiations in 1999, but they have faced multiple setbacks, partly because of the leftist rule …

U.S. President Donald Trump warned Canada on Thursday to stop shielding its dairy farmers from U.S. competition and reiterated his disdain for the North American Free Trade Agreement (NAFTA), calling it “a disaster for our country.” “What they’ve done to our dairy farmers is a disgrace,” Trump told reporters Thursday …

The head of the International Monetary Fund says she “has every reason to believe” that the global lender can cooperate with the Trump Administration to support and improve global trade. IMF Managing Director Christine Lagarde spoke in Washington as economic and political officials gathered from around the world at this …