Washington — The Federal Reserve is gearing up to announce its first interest rate cut for more than four years on Wednesday, with policymakers expected to debate how big a move to make less than two months before the U.S. presidential election.    Senior officials at the U.S. central bank including …

BEIJING — China’s economy softened in August, extending a slowdown in industrial activity and real estate prices as Beijing faces pressure to ramp up spending to stimulate demand. Data published by the National Bureau of Statistics Saturday showed weakening activity across industrial production, retail sales and real estate this month compared …

Taipei, Taiwan — The U.S.-China technology war is playing out in the smartphone market in China, where global rivals Apple and Huawei released new phones this week. Industry experts say Apple, which lacks home-field advantage, faces many challenges in defending its market share in the country. The biggest highlight of the …

Washington — The White House said on Thursday it is acting on Democratic lawmakers’ demands to close what they see as a legal loophole that allows manufacturers — most from China — to dodge tariffs on low-priced goods and flood the U.S. with illegal and unsafe products. The Biden administration is targeting the …

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KARAWANG, Indonesia — Rahmat Hidayat lost his job when the shoe factory he worked for closed down last year in the industrial town of Karawang in Indonesia’s West Java.   The 44-year-old now earns less than half of what he used to make by selling grilled meatballs. Unable to afford his …

Nairobi, Kenya — Central banks in Africa are turning to gold to protect themselves from economic and geopolitical instability and to diversify their financial portfolios. In September 2023, the price of gold per ounce was $1,900. A year later, it is selling for $2,500. According to the World Gold Council, an …

London — Google lost its final legal challenge on Tuesday against a European Union penalty for giving its own shopping recommendations an illegal advantage over rivals in search results, ending a long-running antitrust case that came with a whopping fine.  The European Union’s Court of Justice upheld a lower court’s decision, …

beijing — Chinese President Xi Jinping on Monday urged visiting Spanish Prime Minister Pedro Sanchez to play a “constructive role” in improving strained ties between Bejing and the European Union.  Sanchez for his part said he hoped the EU could avoid a trade war with China, even as Brussels weighs imposing …

A lack of opportunities has resulted in underrepresentation of Black designers, stylists and other creatives in the fashion industry. It’s also created a new wave of Black entrepreneurs who are passing on lessons of the business. Tina Trinh reports. (Camera and Produced by: Tina Trinh) …

ALEXANDRIA, Va. — One month after a judge declared Google’s search engine an illegal monopoly, the tech giant faces another antitrust lawsuit that threatens to break up the company, this time over its advertising technology. The Justice Department and a coalition of states contend that Google built and maintains a monopoly …

Athens — Greece plans to impose a 20-euro ($22) levy on cruise ship visitors to the islands of Santorini and Mykonos during the peak summer season, in a bid to avert overtourism, Prime Minister Kyriakos Mitsotakis said Sunday.  Greece relies heavily on tourism, the main driver of the country’s economy which …

FRANKFURT, Germany — Volkswagen is considering closing some factories in its home country for the first time in the German automaker’s 87-year history, saying it otherwise won’t meet the cost-cutting goals it needs to remain competitive. CEO Oliver Blume also told employees Wednesday that the company must end a three-decade-old job …

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KAJIADO, Kenya — The blood, milk and meat of cattle have long been staple foods for Maasai pastoralists in Kenya, perhaps the country’s most recognizable community. But climate change is forcing the Maasai to contemplate a very different dish: fish. A recent yearslong drought in Kenya killed millions of livestock. While …

Johannesburg — After pledging $51 billion in financial support for Africa over the next three years and positioning China as a fellow developing country in contrast to the West’s colonialist past, President Xi Jinping told dozens of African leaders gathered in Beijing this week that “the China-Africa relationship is now at …

Washington — The U.S. Treasury and Internal Revenue Service said on Friday that they have recovered $1.3 billion in unpaid taxes from wealthy individuals under new enforcement initiatives funded by $60 billion in IRS modernization spending from the climate-focused Inflation Reduction Act.   Why it’s important  Republicans in Congress have long vowed …

Washington — U.S. employment increased less than expected in August, but a drop in the jobless rate to 4.2% suggested an orderly labor market slowdown continued and probably did not warrant a big interest rate cut from the Federal Reserve this month.   Nonfarm payrolls increased by 142,000 jobs last month after …

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WASHINGTON — The U.S. trade deficit widened to the highest level in more than two years in July as businesses likely front-loaded imports in anticipation of higher tariffs on goods, suggesting trade could remain a drag on economic growth in the third quarter. While the surge in imports reported by the …

Geneva — Workers have seen their slice of the global income pie shrink significantly over the past two decades, swelling inequality and depriving the combined labor force of trillions, the U.N. said Wednesday.  The United Nations’ International Labor Organization said that the global labor income share — or the proportion of total …

Abuja, Nigeria — Barely 48 hours after Nigeria’s state-owned oil company made a startling revelation, hundreds of commuters joined a line stretching many kilometers for fuel at an NNPC outlet in the capital. In a statement Sunday, Nigeria’s state oil firm, NNPC Limited, said that financial constraints are hampering its ability …

Nairobi — Kenyan officials have long pushed for milk to be pasteurized before it reaches the marketplace, but much of the milk sold is not pasteurized because small-scale vendors and producers can’t afford the expensive machines used in the process. Now, Canadian university graduates have developed a portable, affordable pasteurization machine …

Berlin, Germany — EU chief Ursula von der Leyen has made her first picks for her top team, with the key economy vice-president job going to Italy’s far-right nominee, German newspaper Die Welt reported Tuesday. Von der Leyen, who secured a second term as commission chief in July, is expected to …