Toys ‘R’ US plans to sell or close all of its US stores, potentially hitting 33,000 jobs, U.S. media reported Wednesday. The debt-plagued retailer, which filed for bankruptcy protection in September, told employees that the retailer planned to file liquidation papers ahead of a Thursday court hearing, The Wall Street …

Mossack Fonseca, the Panamanian law firm at the center of the “Panama Papers” scandal, said Wednesday that it was shutting down because of the damage to its business and reputation inflicted by role in the global tax evasion debacle. The Panama Papers, which consist of millions of documents stolen from Mossack Fonseca and leaked to …

The Trump administration is pressing China to cut its trade surplus with the United States by $100 billion, a White House spokeswoman said Wednesday, clarifying a tweet last week from President Donald Trump. Last Wednesday, Trump tweeted that China had been asked to develop a plan to reduce its trade …

U.S. Trade Representative Robert Lighthizer said Wednesday that the United States would challenge Indian government export subsidies because they hurt American workers and manufacturers. Lighthizer said he had requested “dispute settlement consultations” with the Indian government at the World Trade Organization because the subsidies allow India to sell goods at lower …

General Motors, Fiat Chrysler, Volkswagen and Mercedes all knew of problems with dangerous exploding Takata air bag inflators years before issuing recalls, according to three class actions filed Wednesday with the federal court in Miami. The lawsuits cite company documents obtained through previous legal actions against other automakers over faulty …

European Union leader Donald Tusk has called on U.S. President Donald Trump to maintain longstanding trans-Atlantic relations that have been increasingly strained since Trump announced stiff trade tariffs on imported steel and aluminum. “Instead of risking a trade war, which he seems eager to wage, we should be aiming for …

Insider trading charges were announced Wednesday against a former Equifax executive who sold his shares for nearly $1 million before the company’s massive data breach was revealed to the public and the stock price plunged. A federal grand jury on Tuesday indicted Jun Ying, 42, the former chief information officer …

Iran’s state-run oil company has signed a $740 million agreement with a Russian-Iranian consortium to develop two oil fields near the Iraqi border. Under the agreement signed Wednesday, there will be a 48,000-barrel daily production of crude for a 10-year span in oil fields in Aban and West Paidar in …

Ford is recalling nearly 1.4 million midsize cars in North America because the steering wheel can detach from the steering column and drivers could lose control.   The recall covers certain Ford Fusion and Lincoln MKZ cars from the 2014 through 2018 model years.   Ford says steering wheel bolts …

A bag of rice on a hungry family’s kitchen table could be the key to Nicolas Maduro retaining the support of poor Venezuelans in May’s presidential election. For millions of Venezuelans suffering an unprecedented economic crisis, a monthly handout of a box of heavily-subsidized basic food supplies by Maduro’s unpopular …

In one of the planet’s most northerly settlements, in a tiny Arctic town of about 2,000 people, Benjamin Vidmar’s domed greenhouse stands out like an alien structure in the snow-cloaked landscape. This is where in summer the American chef grows tomatoes, onions, chilies and other vegetables, taking advantage of the …

On a patch of gravel that was once a nondescript bus stop in Kuala Lumpur’s old city, passersby can now find brightly-painted wooden pallets that double as seating and shelves stocked with free books for the taking. At least, for the time being. The transformation is temporary, a monthlong demonstration …

Behind the U.S. move to block Singapore-based Broadcom’s hostile bid for U.S. chipmaker Qualcomm lies a new global struggle for influence over next-generation communications technology — and fears that whoever takes the lead could exploit that advantage for economic gain, theft and espionage. In the Broadcom-Qualcomm deal, the focus is …

Sao Paulo investment firm SouthRock Capital has signed an agreement with Starbucks that gives it the right to develop and operate branches of the Seattle-based chain in Brazil, the companies said late on Monday. With the agreement, whose value was not disclosed, all of Starbucks’ retail operations in Latin America …

“Dona Edir, Dona Edir” — the call is heard frequently in the narrow lanes of Canaa, a slum on the outskirts of Rio de Janeiro. It is for Edir Dariux Teixeira, who is well known among the residents, having spent more than a third of her life trying to improve …

European Union finance ministers agreed new measures on Tuesday to force accountants and banks to report aggressive tax schemes that help companies shift profits to low-tax countries. Ministers also added the Bahamas, the U.S. Virgin Islands and Saint Kitts and Nevis to a blacklist of tax havens, while Bahrain, the …

Thailand’s cabinet has agreed to draft a law to regulate cryptocurrency trading, seeking to tax the largely unregulated market. Government spokesman Nathporn Chatusripitak said Tuesday the Ministry of Finance also proposed the new regulations to help prevent use of digital currencies in money laundering and fraud. He said details of …

Cambodia is pushing ahead with new legislation in a bid to lure foreign investors to its vibrant casino and gaming industry, promoting the Kingdom as a key gaming center in South East Asia. The proposed legislation, expected to be passed after general elections this year, has been three years in …

Secretary-General Antonio Guterres called himself “a proud feminist” Monday and said all men should support women’s rights and gender equality. His statement was loudly applauded by hundreds of women and a sprinkling of men at the opening of the annual two-week meeting of the Commission on the Status of Women, …

The daily commute from Mexico to California farms is the same as it was before Donald Trump became president. Hundreds of Mexicans cross the border and line the sidewalks of Calexico’s tiny downtown by 4 a.m., napping on cardboard sheets and blankets or sipping coffee from a 24-hour doughnut shop …

Chile’s new government is preparing belt-tightening measures after inheriting a larger-than-anticipated fiscal deficit from its predecessor, but the measures will stop short of “mega-adjustments,” Finance Minister Felipe Larrain said on Monday. Conservative billionaire Sebastian Pinera took office on Sunday vowing to combat economic “stagnation” and calling for a return to …

U.S. President Donald Trump is blocking Singapore-based Broadcom, maker of computer and smartphone chips, from taking over U.S. chipmaker Qualcomm. Trump cited national security grounds in stopping the takeover, following the recommendation of the Committee on Foreign Investment in the United States (CFIUS). The committee reviews national security implications when …

Eurozone creditors are expected to disburse new loans to Greece this month and are working on debt relief measures, the head of the bloc’s finance ministers said on Monday, steps that should help underpin its economic recovery. Greece’s 86-billion-euro bailout program, its third since 2010, is due to end in …

Mexico’s powerful CCE business lobby on Monday urged the leftist front-runner for a July 1 presidential election to stop questioning major planks of the government’s economic agenda lest it damage investment. Andres Manuel Lopez Obrador, who has led opinion polls by a wide margin for weeks, has gradually moderated his …

A global financial body warns central banks should carefully weigh the risks before introducing their own virtual currencies, saying such innovations could risk destabilizing banking systems and unleash disruption across borders. But it said some forms of digital innovation could help by making trading in stocks and currencies more efficient. …