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Economy

Half the World’s 152 Million Child Laborers Do Hazardous Work

By Yeco on Sunday, June 10, 2018

The International Labor Organization reports 152 million children are victims of child labor, with nearly half forced to work in hazardous, unhealthy conditions that can result in death and injury. Twenty years ago, hundreds of people, including children, participated in …

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Economy

XI Takes Swipe at G-7 Summit In SCO Remarks

By Yeco on Sunday, June 10, 2018

The Shanghai Cooperation Organization (SCO)is holding its first summit since India and Pakistan joined the bloc which is widely seem by observers as a means for blocking American influence in Central Asia.  The founding members of the alliance are China, …

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Economy

UK’s May Orders Retreat to Sort Out Brexit Details

By Yeco on Saturday, June 9, 2018

Prime Minister Theresa May will gather together squabbling British ministers at her country residence after this month’s European Union summit to settle on details of a much-anticipated Brexit policy paper. May has yet to agree on some of the fundamental details of what type …

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Economy

Trump Rails at Trudeau, Says US Won’t Sign G-7 Communique

By Yeco on Saturday, June 9, 2018

U.S. President Donald Trump said Saturday that he had instructed his representatives not to sign a communique by all seven leaders attending the G-7 summit in Canada, citing statements by Canada’s Prime Minister Justin Trudeau made after he left. “Very dishonest …

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Economy

Macron’s Campaign Economists Warn French Leader Over Rich-Friendly Policies

By Yeco on Saturday, June 9, 2018

French President Emmanuel Macron’s economic policy is viewed as favoring the rich and must change to address inequalities, according to a memo written by three economists who worked on his campaign program, Le Monde newspaper said on Saturday. The criticism …

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Economy

Australian Bank Hit With $530 Million Fine for Money-Laundering

By Yeco on Saturday, June 9, 2018

Australia’s Commonwealth Bank has agreed to pay a $530 million fine for breaching anti-money laundering and counterterrorism financing laws. The scandal relates to more than 53,000 suspect transactions that the bank did not immediately report to authorities. If approved by …

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Economy

Pope Francis: Providing Clean Energy Is ‘A Challenge of Epochal Proportions’

By Yeco on Saturday, June 9, 2018

Pope Francis has told the world’s oil executives that a transition to less-polluting energy sources “is a challenge of epochal proportions.” On the last day of a two-day conference Saturday, the Roman Catholic leader urged the executives to provide electricity …

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Economy

‘Who Dares Go Out Shopping?’ Afghans Buy Online to Avoid Bombs

By Yeco on Saturday, June 9, 2018

Shoppers in the Afghan capital are going online for everything from fashion to furniture to avoid bomb attacks and sexual harassment, with dozens of startups doing a brisk trade where there were few on the ground two years ago. Suicide …

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Economy

After Years of Dim Prospects, New Possibilities for N. Korean Economy

By Yeco on Friday, June 8, 2018

North Korean leader Kim Jong Un has been signaling his desire to open up the reclusive state’s economy, ushering in what some analysts believe could be a “reform and opening up era” similar to what happened in China four decades …

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Economy

China’s Trade Surplus With US Widens

By Yeco on Friday, June 8, 2018

China’s trade surplus with the United States rose to $24.58 billion in May, from $22.15 billion in April, according to Chinese customs data published Friday. China’s export growth in May was 12.6 percent, slightly down from 12.9 percent in April, …

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Economy

China Trash Ban Creates Crisis for Recyclers

By Yeco on Friday, June 8, 2018

Just less than $6 billion worth of U.S. waste was sent to China last year to be converted into packaging and products, and then shipped back to the United States and other markets. Scrap recyclers had taken advantage of low …

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Economy

Ukraine Approves Anti-Corruption Court, Fires Finance Minister

By Yeco on Friday, June 8, 2018

Ukraine’s parliament has voted to establish an anti-corruption court in an effort to meet the criteria to receive $17.5 billion from the International Monetary Fund.   Before the IMF releases the funds needed to shore up Ukraine’s struggling economy, it …

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Economy

Construction Planned to Prepare Alaska’s Arctic Refuge for Oil Drilling

By Yeco on Friday, June 8, 2018

The Trump administration said Thursday it would spend $4 million on construction projects in the Arctic National Wildlife Refuge in preparation for oil drilling in the nation’s biggest wildlife park. In an announcement that touted planned improvements to U.S. Fish …

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Economy

Foreign Firms Invest in Brazil Oil Despite Fuel Price Strike

By Yeco on Thursday, June 7, 2018

Multinational oil companies bought significant stakes in three Brazilian pre-salt oil fields auctioned Thursday, a show of confidence in the future of the energy sector despite a recent strike by truckers over rising fuel prices that brought Latin America’s largest …

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Economy

More Than 14% of US Farm Exports Seen at Risk in Trade Disputes

By Yeco on Thursday, June 7, 2018

More than 14 percent of $140 billion in annual U.S. farm exports have been or are likely to be hit by retaliatory tariffs in trade disputes with countries such as China and Mexico, a top U.S. trade negotiator said Thursday. Mexico imposed …

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Economy

Trump Says Working With Abe to Improve US-Japan Trade Relations

By Yeco on Thursday, June 7, 2018

U.S. President Donald Trump said on Thursday after White House talks with Japanese Prime Minister Shinzo Abe that the two leaders were working together to improve trading relations and that Abe promised new Japanese investment in the United States. At …

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Economy

South Sudan and Sudan Agree to Repair Damaged Oil Infrastructure

By Yeco on Thursday, June 7, 2018

South Sudan said Thursday it had agreed with its northern neighbor Sudan to repair oil infrastructure facilities destroyed by conflict within three months to boost production in Africa’s youngest country. Michael Makuei Lueth, South Sudan’s information minister, told Reuters that …

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Economy

US, China Reach Deal to End Sanctions on Telecom Giant ZTE

By Yeco on Thursday, June 7, 2018

The U.S. and China have reached a deal to lift sanctions against the giant Chinese ZTE telecommunications company that hobbled the firm when the United States banned the sale of American-made components it needed for its consumer products, U.S. Commerce …

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Economy

Trump’s Solar Tariff Costs US Companies Billions

By Yeco on Thursday, June 7, 2018

President Donald Trump’s tariff on imported solar panels has led U.S. renewable energy companies to cancel or freeze investments of more than $2.5 billion in large installation projects, along with thousands of jobs, the developers told Reuters. That’s more than …

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Economy

France, Germany, UK Seek Exemption From US Iran Sanctions

By Yeco on Wednesday, June 6, 2018

Britain, France and Germany have joined forces to urge the United States to exempt European companies from any sanctions the U.S. will slap on Iran after pulling out of an international nuclear agreement. In a letter dated Monday to U.S. …

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Economy

N. Korea Denuclearization Could Cost $20 Billion

By Yeco on Wednesday, June 6, 2018

Arms control experts estimate that the dismantlement of North Korea’s nuclear program could take a decade to complete, and cost $20 billion, if a nuclear agreement is reached between U.S. President Donald Trump and North Korean leader Kim Jong Un …

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Economy

Aiming at Trump Strongholds, Mexico Hits Back With Trade Tariffs

By Yeco on Tuesday, June 5, 2018

Mexico put tariffs on American products ranging from steel to pork and bourbon on Tuesday, retaliating against import duties on metals imposed by President Donald Trump and taking aim at Republican strongholds ahead of U.S. congressional elections in November. Mexico’s …

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Economy

Trump Wants Separate Trade Talks With Canada, Mexico

By Yeco on Tuesday, June 5, 2018

U.S. President Donald Trump is “seriously contemplating” trying to reach separate trade deals with Canada and Mexico instead of reshaping the more than two-decade-old North American Free Trade Agreement with both neighbors, a White House economic adviser said Tuesday. Trump …

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Economy

Starbucks Executive Chairman Howard Schultz Steps Down

By Yeco on Monday, June 4, 2018

Starbucks Corp, the world’s biggest coffee chain, said on Monday Executive Chairman Howard Schultz is stepping down, effective June 26. Schultz, who has been with Starbucks for nearly four decades, is credited with turning the company into a popular household …

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