Wall Street surged on Wednesday as surging oil prices boosted energy stocks following U.S. President Donald Trump’s decision the previous day to quit a nuclear agreement with Iran. Gains were broad and volume was high, with all but the utilities and telecom sectors advancing as investors who had moved to the sidelines in recent days …

 A New York hedge fund founder was arrested Wednesday on charges that he exaggerated his company’s performance by over $200 million to impress and preserve investors. Anilesh Ahuja, 49, of Manhattan, was charged with conspiracy, securities fraud and wire fraud. Federal officials said that the founder, chief executive officer and …

Saudi Arabia is monitoring the impact of the U.S. withdrawal from the Iran nuclear deal on oil supplies and is ready to offset any shortage but it will not act alone to fill the gap, an OPEC source familiar with the kingdom’s oil thinking said. U.S. President Donald Trump on …

U.S. producer prices barely rose in April after strong gains in the first quarter, held back by a moderation in the cost of services such as hotel accommodation and healthcare, which could ease fears that inflation pressures were rapidly building up. The slowdown in wholesale price growth reported by the …

For generations, farmers planted the lush earth of Awedai and nearby areas in eastern Ethiopia with coffee trees, earning a livelihood from a crop that is now the country’s main export. But the centuries-long practice is now being abandoned in favor of khat, a leafy plant chewed as a stimulant …

A United Nations agency said on Tuesday an “unjust” U.S. financial and trade embargo on Cuba had cost the country’s economy $130 billion over nearly six decades, coming up with the same estimate as the island’s communist government. Although many U.S. allies join Washington in criticizing Cuba’s one-party system and …

President Donald Trump will allow year-round sales of renewable fuel with blends of 15 percent ethanol as part of an emerging deal to make changes to the federal ethanol mandate.   Republican senators and the White House announced the deal Tuesday after a closed-door meeting, the latest in a series …

A legal dispute between ConocoPhillips and Venezuelan state oil firm PDVSA could leave Curacao’s economically important Isla refinery without crude oil to process, posing a “potential crisis” for the Caribbean island, Curacao’s Prime Minister said on Tuesday. Conoco has won court orders allowing it to seize PDVSA assets on Caribbean …

With the threat of tariffs and counter-tariffs between Washington and Beijing looming, Chinese buyers are canceling orders for U.S. soybeans, a trend that could deal a blow to American farmers if it continues. At the same time, farmers in China are being encouraged to plant more soy, apparently to help make …

An al-Qaida affiliate threatened attacks on Western companies’ operations across North and West Africa on Tuesday, calling them “legitimate targets” and urging Muslims to boycott them. Al-Qaida in the Islamic Maghreb (AQIM) has launched raids on installations in the past, in particular in Algeria where it carried out a major …

Licenses for Boeing and Airbus to sell passenger jets to Iran will be revoked, U.S. Treasury Secretary Steve Mnuchin said Tuesday after President Donald Trump pulled the United States out of the 2015 Iran nuclear agreement. Trump said he would reimpose U.S. economic sanctions on Iran, which were lifted under …

Top executives of the nation’s leading wholesale drug distributors told Congress under oath Tuesday that their companies didn’t help cause the nation’s deadly opioid epidemic, drawing bipartisan wrath that included one lawmaker suggesting prison terms for some company officials.   The confrontation came at a House subcommittee hearing at which …

Sub-Saharan African nations are at growing risk of debt distress because of heavy borrowing and gaping deficits, despite an overall uptick in economic growth, the International Monetary Fund said Tuesday. The sober assessment came as African countries continue to tap international debt markets and issue record levels of debt in …

Soon after presenting his credentials to the German president, the new U.S. ambassador to Germany, Richard Grenell, told German companies to start leaving Iran. “As Donald Trump said, U.S. sanctions will target critical sectors of Iran’s economy. German companies doing business in Iran should wind down operations immediately,” Grenell tweeted …

Wooden dhows crammed with secondhand Japanese cars have been sailing unhindered into Yemeni ports for the past three years despite rigid wartime controls on imports of aid and other vital supplies. Like many Yemeni traders, Ali al-Mahry jumped at this chance to turn a profit by supplying customers at home …

Walmart’s online grocery delivery partnerships with ride-hailing services Uber and Lyft have ended, according to two sources, a potential setback for the retailer’s ambitions to challenge Amazon.com head-on with speedy delivery of groceries to people’s homes. The end of the Walmart partnerships, which has not been previously reported and was …

The worst drought in living memory has hit vineyards in South Africa’s Western Cape hard, reducing grape harvests and adding to pressure on the region’s centuries-old wine industry, officials said on Tuesday. In its latest wine harvest report, industry body Vinpro said South Africa’s wine-grape production was down 15 percent …

Former President Robert Mugabe will not appear before Zimbabwe’s parliament as scheduled on Wednesday to answer questions on diamond mining operations, a legislator said. Temba Mliswa, who leads the parliamentary committee on mines, said the clerk of parliament hadn’t written to Mugabe to invite him to appear. “It has been …

Trade negotiations between China and the United States continue early next week in Washington D.C., but analysts say after the first round, the differences between the two sides are huge. Some believe the differences are so fundamental and big that an escalation of tariffs is unavoidable. According to a widely …

The Trump administration is unveiling a multibillion-dollar roster of proposed spending cuts but is leaving this year’s $1.3 trillion catchall spending bill alone.   The cuts wouldn’t have much impact, however, since they come from leftover funding from previous years that wouldn’t be spent anyway.   The White House said …

Australia’s government is expected to release annual spending plans on Tuesday with a focus on winning votes at elections due within a year. Cheaper craft beer plus personal tax cuts compensated by strengthening company tax revenue have been flagged as well as more investment on roads and rail to stimulate …

U.S. oil giant ConocoPhillips is pressing for control of Venezuela’s key offshore operations in the Caribbean, seeking to recoup $2 billion from a decade-old dispute with the nation struggling to feed its people, a source confirmed Monday.   The Houston-based ConocoPhillips is asking a court in the Dutch Antilles for …

You’ve seen it among a group of friends, the inflated and often irritating “humblebrag.” Maybe it was even you who did it. Wanting to seem more important or smarter or wealthier or something, whatever, you blurted out how messy your hair looks as you pull off a Taylor Swift-worthy hair …

As the United States considers ramping up trade tariffs and other actions in response to China’s economic policies, tensions in another area heated up in recent days: How airlines should refer to Taiwan. The White House released a statement over the weekend criticizing China for demanding international air carriers not …

Egypt’s parliament has approved a law to govern popular ride-hailing apps Uber and Careem, which had faced legal challenges stemming from regulations designed for traditional taxis. The new law, as described Monday by state news agency MENA, establishes operating licenses and fees. It requires licensed companies to store user data …