Washington — U.S. President Joe Biden on Friday followed through on his pledge to block Nippon Steel’s $14.9 billion bid for U.S. Steel, citing concerns the deal could hurt national security. The move, long expected, cuts off a critical lifeline of capital for the beleaguered American icon, which has said it …
your ad hereTesla annual deliveries fall for first time as incentives fail to drum up demand
Tesla reported its first fall in yearly deliveries on Thursday as lucrative year-end incentives for the Elon Musk-led EV maker’s aging line up and the new Cybertruck pickup failed to lure customers wary of high borrowing costs. Shares of the company fell about 6%. Musk had earlier predicted “slight growth” …
your ad hereUS oil production rose to record high in October, data show
NEW YORK — U.S. oil production rose 260,000 barrels per day month-over-month to a record 13.46 million bpd in October as demand surged to the highest levels since the pandemic, data from the U.S. Energy Information Administration showed on Tuesday. U.S. oil output has grown rapidly this year as drilling operations …
your ad hereNo ‘Santa Claus rally’ for global stocks as equities slide
new york — Global stock markets mostly fell Monday in jittery holiday trading ahead of a potentially tumultuous 2025 that will see Donald Trump return to the White House. Wall Street’s three main indices slumped to end the day, adding to losses Friday that ended Wall Street’s usual holiday-period “Santa Claus …
your ad hereInternet is rife with fake reviews – will AI make it worse?
The emergence of generative artificial intelligence tools that allow people to efficiently produce novel and detailed online reviews with almost no work has put merchants, service providers and consumers in uncharted territory, watchdog groups and researchers say. Phony reviews have long plagued many popular consumer websites, such as Amazon and …
your ad hereTreasury secretary to Congress: US could hit debt limit in mid-January
WASHINGTON — Treasury Secretary Janet Yellen said her agency would need to start taking “extraordinary measures,” or special accounting maneuvers intended to prevent the nation from hitting the debt ceiling, as early as January 14, in a letter sent to congressional leaders Friday afternoon. “Treasury expects to hit the statutory debt …
your ad hereBrazil views labor violations at BYD site as human ‘trafficking’
Rio de Janeiro, Brazil — Authorities in Brazil said Friday they are probing Chinese auto giant BYD and one of its contractors for suspected “trafficking” of Chinese workers building a factory in the South American country. Federal prosecutors in Brazil are weighing possible criminal action after labor inspectors found 163 Chinese …
your ad hereWorld Bank raises China’s GDP forecast for 2024, 2025
The World Bank raised on Thursday its forecast for China’s economic growth in 2024 and 2025, but warned that subdued household and business confidence, along with headwinds in the property sector, would keep weighing it down next year. The world’s second-biggest economy has struggled this year, mainly due to a …
your ad hereChina, Japan foreign ministers meet and agree on visit, security dialog
BEIJING/TOKYO — Talks between China and Japan’s foreign ministers in Beijing have paved way for Japan to host China’s foreign affairs chief next year, and mutual agreement to hold a security dialog as soon as possible, Japan said on Wednesday. No details were given for when the events will take place …
your ad hereBig banks, business groups sue US Federal Reserve over annual ‘stress tests’
Major banks and business groups sued the Federal Reserve on Tuesday, alleging the U.S. central bank’s annual “stress tests” of Wall Street firms violate the law. The lawsuit filed in U.S. District Court in Columbus, Ohio, claims the Fed’s practice of determining how big banks perform against hypothetical economic turmoil, …
your ad hereNissan, Honda announce plans to merge, creating world’s No. 3 automaker
TOKYO — Japanese automakers Honda and Nissan have announced plans to work toward a merger, forming world’s third-largest automaker by sales as the industry undergoes dramatic changes in its transition away from fossil fuels. The two companies said they had signed a memorandum of understanding on Monday and that smaller Nissan …
your ad hereTrump taps ex-Treasury official Miran as chair of Council of Economic Advisers
Washington — President-elect Donald Trump said on Sunday that Stephen Miran, a Treasury Department adviser in his first administration, would be the chair of his Council of Economic Advisers. The council advises the president on economic policy and is composed of three members, including the chair. The council assists in the …
your ad hereRising butter prices give European consumers and bakers a bad taste
PARIS — Pastry chef Arnaud Delmontel rolls out dough for croissants and pains au chocolat that later emerge golden and fragrant from the oven in his Paris patisserie. The price for the butter so essential to the pastries has shot up in recent months, by 25% since September alone, Delmontel says. …
your ad hereAmazon workers strike at seven US facilities ahead of Christmas rush
Amazon.com workers at seven U.S. facilities walked off the job early on Thursday during the holiday shopping rush, aiming to pressure the retailer into contract talks with their union. Warehouse workers in cities including New York, Atlanta and San Francisco are taking part in the “largest” strike against Amazon, said …
your ad hereThailand joins other Asia nations in battle against cheap Chinese imports
Bangkok — For many countries in Southeast Asia, Chinese investment and tourism are key to their economies. However, cheap low-quality Chinese products that are flooding markets across the region are also raising concerns about how they are undercutting local businesses, experts say. That is forcing countries like Thailand to find ways …
your ad hereUS Federal Reserve cuts key loan rate by quarter-point
WASHINGTON — The Federal Reserve cut its key interest rate Wednesday by a quarter-point — its third cut this year — but also signaled that it expects to reduce rates more slowly next year than it previously envisioned, largely because of still-elevated inflation. The Fed’s 19 policymakers projected that they would …
your ad hereKenyan president strongly defends animal vaccination program
NAIROBI, KENYA — Kenya’s president said Tuesday that a mass livestock vaccination campaign will continue despite fears of some herders and farmers that the inoculations will somehow hurt their animals. Kenyan President William Ruto lashed out at those objecting to a Ministry of Agriculture livestock vaccination program, which the ministry says …
your ad hereVOA Kurdish: Syrian currency increased; prices remain high
After the fall of the regime of Bashar al-Assad, the value of the Syrian currency increased against the U.S. dollar, but the price of goods remains high. Residents say that traders are exploiting this situation and that official monitoring institutions are not properly preventing this. Click here to see the …
your ad hereG20 watchdog urges governments to address non-bank financial risks
ZURICH — The Financial Stability Board (FSB) on Wednesday pitched recommendations for governments to reduce risks around hedge funds, insurers and other non-bank financial intermediaries, which now account for almost half of global financial assets. The sector of non-bank financial intermediation has grown by around 130% between 2009 and 2023, making …
your ad hereNissan, Honda confirm talks on closer collaboration but say there’s been no decision on a merger
BANGKOK — Japanese automakers Nissan Motor Corp. and Honda Motor Co. confirmed Wednesday that they are discussing closer collaboration but denied reports they have decided on a merger. Nissan’s share price soared more than 22% in Tokyo after reports citing unnamed sources said it might merge with Honda to form the …
your ad hereLabor organization: International migrants play crucial role in global economy
GENEVA — Migrants play a crucial role in the global economy by filling essential jobs in foreign countries and sending much-needed remittances to their home countries, according to a report released Monday by the International Labour Organization. The report’s release comes as President-elect Donald Trump has vowed to deport millions of …
your ad hereFirst salmon in century reach Oregon’s Klamath Basin after dam removal
On the U.S. West Coast, conservationists for the world’s largest dam-removal project are both celebrating initial successes and encountering short-term obstacles. VOA’s Matt Dibble has our story from the Klamath River on the border between California and Oregon. …
your ad hereAfter losing beloved lake, a community navigates its future
In the Pacific Northwest, the world’s largest river restoration project has removed hydroelectric dams from the Klamath River to help migrating salmon. The project emptied a lake beloved to its surrounding community. VOA’s Matt Dibble went to the former Copco Lake to see how residents are adjusting. …
your ad hereTrump promises lower prices, more oil for US economy
The economy was one of the biggest issues for voters in this year’s U.S. presidential election. As they await Donald Trump’s return to power, many Americans say they expect improving the economy will be one of his first priorities. VOA Correspondent Scott Stearns has our story. …
your ad hereMoody’s hands France surprise downgrade over deteriorating finances
PARIS — Credit ratings agency Moody’s unexpectedly downgraded France’s rating on Friday, adding pressure on the country’s new prime minister to corral divided lawmakers into backing his efforts to rein in the strained public finances. The downgrade, which came outside of Moody’s regular review schedule for France, brings its rating to …
your ad here