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Economy

Ikea Moving Into City Centers to Adapt to Consumer Changes

By Yeco on Wednesday, November 28, 2018

An airport worker drops by Warsaw’s newest Ikea store during her lunch break to finish up plans for a home refurbishment. Around her, people drift in and out of the shop, placing small houseware items in big yellow bags as …

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Economy

Ocean Shock: Building a Silicon Valley of the Sea

By Yeco on Wednesday, November 28, 2018

This is part of “Ocean Shock,” a Reuters series exploring climate change’s impact on sea creatures and the people who depend on them. Norway has built the world’s biggest salmon-farming industry. But it wants to go bigger. With their lucrative …

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Economy

Report: Trump Says ‘Not Even a Little Bit Happy’ with Fed’s Powell

By Yeco on Wednesday, November 28, 2018

U.S. President Donald Trump on Tuesday kept up his criticism of Federal Reserve Chairman Jerome Powell, saying rising interest rates and other Fed policies were damaging the U.S. economy, the Washington Post said. “So far, I’m not even a little …

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Economy

Global Trade at Stake as Trump and Xi Come Face to Face

By Yeco on Wednesday, November 28, 2018

To hear President Donald Trump tell it, he was made for a moment like this: A high-stakes face-off. A ticking clock. A cagey adversary.   The man who calls himself a supreme dealmaker will have the opportunity this week to …

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Economy

Trump Threatens to Cut GM Subsidies in Retaliation for US Job Cuts

By Yeco on Tuesday, November 27, 2018

U.S. President Donald Trump threatened on Tuesday to cut subsidies for General Motors after the largest U.S. automaker said it would halt production at five plants in North America and cut nearly 15,000 jobs. “The U.S. saved General Motors, and …

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Economy

Russian Bank: We Assigned $12B ‘Loan’ to Poor African State by Mistake

By Yeco on Tuesday, November 27, 2018

The impoverished state of Central African Republic landed a windfall on Tuesday, at least on paper, when Russian state bank VTB reported it had lent the country $12 billion — but the bank then said it was a clerical error …

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Economy

Experts: African Fishing Communities Face ‘Extinction’ as Blue Economy Grows

By Yeco on Tuesday, November 27, 2018

Fishing communities along Africa’s coastline are at a greater risk of extinction as countries eye oceans for tourism, industrial fishing and exploration revenue to jumpstart their “blue economies,” U.N. experts and activists said on Monday. The continent’s 38 coastal and …

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Economy

Traditional Fisherman, Fish Shops Struggle on Kenyan Coast

By Yeco on Tuesday, November 27, 2018

Marine fisheries are one of the few economic activities present everywhere along the Kenyan coast – mostly using artisanal fishing methods in which non-motorized boats stay close to shore. In the coastal town of Malindi, thousands of households that depend …

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Economy

On Cyber Monday, Pope Urges Generosity, not Consumerism

By Yeco on Monday, November 26, 2018

Pope Francis says the “sickness of consumerism” is the enemy of generosity as he called for the faithful to give a little something to the poor.   Francis made the comments during his morning homily Monday, so-called Cyber Monday when …

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Economy

Macron Feels Diesel Tax Anger After Paris ‘Battle Scenes’

By Yeco on Monday, November 26, 2018

French President Emmanuel Macron, caught off guard by violent demonstrations against diesel tax hikes, warned his cabinet on Monday that the protests could tarnish France’s image and said the government needed to listen to voter anger. The 10 days of …

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Economy

Canada Blindsided by GM Oshawa Closure, Workers Walk Out in Protest

By Yeco on Monday, November 26, 2018

Canadian Prime Minister Justin Trudeau on Monday expressed his”deep disappointment” in General Motors Co’s decision to close its Oshawa plant, a move Canadian officials only learned about on Sunday and which led workers to walk off the job on Monday. …

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Economy

Venezuela Holds Onto Prized US Refineries Amid Legal Battle

By Yeco on Monday, November 26, 2018

Venezuela will hold onto its U.S.-based Citgo refineries, settling a lawsuit that threw ownership of the struggling country’s prized assets into peril. Court papers show that Venezuela on Friday began paying off $1.4 billion that a panel said was owed …

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Economy

GM to Slash Jobs, Production, Cancel Some Car Models

By Yeco on Monday, November 26, 2018

General Motors Co will cut car production, stop building several slow-selling models, and slash its North American workforce, its biggest restructuring in North America since its bankruptcy a decade ago. GM plans to halt production next year at three assembly …

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Economy

British Lawmakers Warn They Will Vote Against Brexit Deal

By Yeco on Sunday, November 25, 2018

It took Britain’s Theresa May and 27 other European Union leaders just 40 minutes to sign the Brexit deal after two years of tortuous negotiations, but the trials and tribulations of Britain’s withdrawal agreement approved Sunday in Brussels are far …

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Economy

S&P 500 Slides Into ‘Correction’ for Second Time This Year 

By Yeco on Friday, November 23, 2018

U.S. stocks closed lower after a shortened session Friday, bumping the benchmark S&P 500 index into a correction, or drop of 10 percent below its most recent all-time high in September.    Energy companies led the market slide as the …

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Economy

In Era of Online Retail, Black Friday Still Lures a Crowd   

By Yeco on Friday, November 23, 2018

It would have been easy to turn on their computers at home over plates of leftover turkey and take advantage of the Black Friday deals most retailers now offer online.      But across the country, thousands of shoppers flocked to …

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Economy

China: WTO Changes Must Support Developing Countries

By Yeco on Friday, November 23, 2018

China will go along with changes meant to update global trade rules so long as they protect Beijing’s status as a developing country, a Cabinet official said Friday. The deputy commerce minister, Wang Shouwen, said any changes also must address …

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Economy

Russia, Japan, Azerbaijan Battle to Host 2025 World Expo

By Yeco on Friday, November 23, 2018

Cities in Russia, Japan and Azerbaijan are about to find out which one of them gets to host the 2025 World Expo, an event expected to draw millions of visitors and showcase the local economy and culture. The 170 member …

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Economy

Amazon Staff in Europe Protest to Coincide With Black Friday

By Yeco on Friday, November 23, 2018

Some of Amazon’s workers in Europe are protesting against what they call unfair work conditions, in a move meant to disrupt operations on Black Friday. Amazon Spain said around 90 percent of workers at a logistics depot in near Madrid …

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Economy

Zimbabwe’s FM Aims to Turn Economy Around with New Budget

By Yeco on Thursday, November 22, 2018

Zimbabwe’s finance minister has unveiled the country’s 2019 budget. Mthuli Ncube says the plan should help restore the economy of the southern African nation after years of recession. “Madam Speaker, ma’am, in conclusion, this budget should mark a turning point …

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Economy

Nissan Board Fires Jailed Chairman Ghosn

By Yeco on Thursday, November 22, 2018

Once-admired auto executive Carlos Ghosn’s fall from grace deepened Thursday when directors of Nissan Motor Co. voted unanimously to fire the recently jailed businessman from his post as board chairman. Dismissed along with Ghosn was another director, Greg Kelly, whom …

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Economy

Lebanon’s Economy Faces Stark Choice: Reform or Collapse

By Yeco on Thursday, November 22, 2018

Lebanon is marking 75 years of independence with a military parade Thursday in Beirut, but many anxious Lebanese feel they have little to celebrate: the country’s corruption-plagued economy is dangerously close to collapse and political bickering over shares in a …

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Economy

A Holiday Miracle? Stores Try to Cut Down on Long Lines

By Yeco on Thursday, November 22, 2018

Retailers will once again offer big deals and early hours to lure shoppers into their stores for the start of the holiday season. But they’ll also try to get shoppers out of their stores faster than ever by minimizing the …

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Economy

Nissan Board to Meet for Ousting Ghosn as Future of Alliance in Focus

By Yeco on Thursday, November 22, 2018

Nissan Motor Co will hold a board meeting on Thursday to oust Chairman Carlos Ghosn after the shock arrest of its once-revered leader, starting what could be a long period of uncertainty in its 19-year alliance with Renault. The Franco-Japanese …

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