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Economy

China Rejects US Charge of "Forced Technology Transfer’ at WTO

By Yeco on Monday, May 28, 2018

China told the World Trade Organization’s dispute settlement body on Monday that U.S. accusations that Beijing forced companies to hand over technology as a cost of doing business in China were groundless. U.S. President Donald Trump has accused China of …

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Economy

New Zealand Begins Mass Cull to Eradicate Cow Disease

By Yeco on Monday, May 28, 2018

New Zealand will slaughter more than 100,000 cows in an effort to eradicate a bacterial disease. The government and agricultural leaders announced Monday that it will spend over $600 million over the next decade to rid the country of Mycoplasma …

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Economy

Myanmar’s Anti-Corruption Fight Gathers Steam

By Yeco on Monday, May 28, 2018

Myanmar’s anti-corruption commission has in recent weeks sued a senior bureaucrat and begun investigating a disgraced minister, indicating a crackdown on corruption promised by the government is finally happening. Often criticized as weak and unambitious, the commission’s stepped-up efforts suggest …

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Economy

China Approves 13 New Ivanka Trump Trademarks in 3 Months

By Yeco on Monday, May 28, 2018

Ivanka Trump’s brand continues to win foreign trademarks in China and the Philippines, adding to questions about conflicts of interest at the White House, The Associated Press has found.   On Sunday, China granted the first daughter’s company final approval …

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Economy

Vietnam Is Following China in its Economic Development

By Yeco on Monday, May 28, 2018

Vietnam is imitating China in its efforts to grow economically and lags its larger neighbor only by about a decade, experts say. The two communist countries, though political rivals, have built up their state-controlled economies on job creation through factory …

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Economy

New York Clothing Store Sells Gender Neutral Lifestyle

By Yeco on Sunday, May 27, 2018

New shops appear in New York City every day, but Phluid Project, which recently opened its doors on Broadway, is different. One of the first gender-fluid boutiques in the world, Phluid Project sells clothing for men, women and everyone in …

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Economy

Russia, Turkey OK Pipeline Deal, End Gas Dispute

By Yeco on Sunday, May 27, 2018

Russian state gas giant Gazprom said Saturday it had signed a protocol with the Turkish government on a planned gas pipeline and agreed with Turkish firm Botas to end an arbitration dispute over the terms of gas supplies.  The protocol …

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Economy

Italy’s President Pressured to Accept Euroskeptic Minister

By Yeco on Saturday, May 26, 2018

Italy’s would-be coalition parties turned up the pressure on President Sergio Mattarella on Saturday to endorse their euroskeptic pick as economy minister, saying the only other option might be a new election. Mattarella has held up formation of a government, which would end more …

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Economy

Kenya Moves to Regulate Digital-Fueled Lending Craze

By Yeco on Saturday, May 26, 2018

Kenya built a reputation as a pioneer of financial inclusion through its early adoption of a mobile money system that enables people to transfer cash and make payments on cellphones without a bank account. Now, a proliferation of lenders are …

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Economy

Markets Disrupted as Italy’s Populists Negotiate Cabinet

By Yeco on Friday, May 25, 2018

Italy’s prime minister-designate, Giuseppe Conte, a political novice and obscure law professor accused of padding his resume, put the finishing touches to his cabinet lineup Friday. And initial reaction from financial markets was far from approving. Italian government bond prices …

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Economy

Discharged and Jobless: US Veterans Seek Change in Hiring Rules

By Yeco on Friday, May 25, 2018

Military veterans who were discharged for relatively minor offenses say they often can’t get jobs, and they hope a recent warning to employers by the state of Connecticut will change that. The state’s human rights commission told employers last month …

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Economy

Broadcom’s Tan, CBS’s Moonves Among Highest-Paid CEOs

By Yeco on Friday, May 25, 2018

Here are the highest-paid CEOs for 2017, as calculated by The Associated Press and Equilar, an executive data firm. The AP’s compensation study covered 339 executives at S&P 500 companies who have served at least two full consecutive fiscal years …

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Economy

China Trade Dispute Creates Headaches for US Agriculture Industry

By Yeco on Friday, May 25, 2018

As tensions are easing over a potential trade war while negotiations between the U.S. and China continue, the uncertainty about tariffs and the eventual impact on the U.S. agricultural industry is taking a toll on U.S. farmers heading to the …

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Economy

China Snaps up US Oil, Straining Capacity to Export It

By Yeco on Friday, May 25, 2018

The U.S. oil export infrastructure is straining to keep up as the country’s crude oil exports hit new highs and China snaps up more of it than ever before. U.S. crude production has surged to a record 10.7 million barrels …

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Economy

Brazil: Deal Reached to Suspend Crippling Trucker Strike

By Yeco on Friday, May 25, 2018

Brazil’s government said late Thursday that a deal had been reached with truckers to suspend a 4-day-old strike that caused fuel shortages, cut into food deliveries, backed up exports and threatened airline flights. Eliseu Padilha, chief of staff for President …

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Economy

Trump Signs Bill Easing Restraints on Small US Banks

By Yeco on Thursday, May 24, 2018

U.S. President Donald Trump signed into law Thursday a measure that eases rules imposed on banks in the aftermath of the 2008 financial crisis and the Great Recession. The law relaxes regulations and oversight on banks with assets below $250 …

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Economy

Buffalo: City With a Magnificent Past Fallen on Hard Times

By Yeco on Thursday, May 24, 2018

Even though the United States is one of the richest and most technologically advanced countries in the world, about 45 million Americans live below the poverty line. In Buffalo, New York, a once-prosperous city that has fallen on hard-times, one-third …

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Economy

Deutsche Bank to Slash Thousands of Jobs to Control Costs 

By Yeco on Thursday, May 24, 2018

Germany’s struggling Deutsche Bank is slashing thousands of jobs as it reshapes its stocks trading operation and refocuses its global investment banking business on its European base. The bank said Thursday it would cut its workforce from 97,000 to “well …

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Economy

Amazon, Starbucks Pledge Money to Repeal Seattle Head Tax

By Yeco on Thursday, May 24, 2018

Amazon, Starbucks, Vulcan and other companies have pledged a total of more than $350,000 toward an effort to repeal Seattle’s newly passed tax on large employers intended to combat homelessness. Just days after the Seattle City Council approved the levy, …

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Economy

Starbucks Calls Anti-Bias Training Part of ‘Long-Term Journey’

By Yeco on Thursday, May 24, 2018

Starbucks Corp. on Wednesday revealed details of the employee anti-bias training program that will take place behind closed doors at 8,000 U.S. company-owned cafes on the afternoon of May 29. Starbucks announced plans to shutter stores and corporate offices to …

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Economy

Trump Says New ‘Structure’ Needed in China Trade Deal 

By Yeco on Thursday, May 24, 2018

U.S. President Donald Trump said on Wednesday “a different structure” is needed in trade negotiations with China, but he did not provide further details on the kind of change he seeks. “Our trade deal with China is moving along nicely,” …

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Economy

Post-Mugabe, Zimbabweans Still Waiting for Economic Uptick

By Yeco on Wednesday, May 23, 2018

This week marks six months since Zimbabwe President Emmerson Mnangagwa took office, after Robert Mugabe gave in to military pressure and resigned. During the weekend, the 75-year-old Mnangagwa told supporters that since he took over, a lot had improved. He …

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Economy

Ethiopia Opens Telecoms Sector to Limited Competition

By Yeco on Wednesday, May 23, 2018

Ethiopia’s state-run telecoms monopoly has agreed to allow some local firms to provide internet services through its infrastructure, a move seen as spurring competition and expanding the data market, officials said. Ethio Telecom has more than 16 million subscribers of …

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Economy

Turkish Currency Hits Record Low Amid Erdogan Concerns

By Yeco on Wednesday, May 23, 2018

Turkey’s currency has fallen to a record low against the dollar amid concerns about an outflow of investor capital and the country’s ability to manage the situation. The lira weakened to over 4.80 per dollar on Wednesday, down some 5 …

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