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Economy

Federal Reserve: US Households, Businesses See Good Times Ahead

By Yeco on Wednesday, May 23, 2018

Households are feeling more stable, small businesses are making money and many expect to expand and hire in the coming year, signs of continued optimism in two key parts of the economy, the Federal Reserve reported Tuesday in a pair …

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Economy

Official: Trump Administration to Publish Proposed Rule Changes for Gun Exports

By Yeco on Tuesday, May 22, 2018

The Trump administration is preparing to publish on Thursday long-delayed proposed rule changes for the export of U.S. firearms, a State Department official said on Tuesday. The rule changes would move the oversight of commercial firearm exports from the U.S. …

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Economy

US, China Near Rescue Deal for Chinese Telecom Firm ZTE

By Yeco on Tuesday, May 22, 2018

U.S. President Donald Trump said Tuesday “there is no deal” yet to lift the seven-year ban on the sale of American-made components to the giant Chinese telecommunications company ZTE, but that there might be a settlement as part of ongoing …

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Economy

Mexican Truckers Travel in Fear as Highway Robberies Bleed Economy

By Yeco on Tuesday, May 22, 2018

Glancing constantly at his rear view mirror, truck driver “El Flaco” journeys the highways of Mexico haunted by the memory of when he was kidnapped with his security detail by bandits disguised as police officers two years ago. Back then, …

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Economy

Trump Claims New Accord with China on Trade Negotiations

By Yeco on Monday, May 21, 2018

U.S. President Donald Trump says American farmers will be big beneficiaries of more trade with China. “Under our potential deal with China, they will purchase from our Great American Farmers practically as much as our Farmers can produce,” Trump said …

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Economy

China Puts its Own Spin on Agreement to Reduce Trade Deficit

By Yeco on Monday, May 21, 2018

China’s state media are playing up what it says is a trade war truce and de-escalation in tensions after negotiators from Washington and Beijing agreed to hold off on tariffs and “substantially reduce” the U.S. trade deficit. However, economists and business …

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Economy

Washington Digests US-China Trade Announcement

By Yeco on Sunday, May 20, 2018

Washington is digesting China’s stated intention to purchase more American goods and reduce the trade imbalance between the two countries. VOA’s Michael Bowman reports, last week’s talks between U.S. and Chinese negotiators did not yield specific commitments from Beijing in …

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Economy

South Korea’s LG Group Chairman Dies at 73

By Yeco on Sunday, May 20, 2018

South Korea’s fourth-largest conglomerate, LG Group, said its Chairman Koo Bon-moo did Sunday. Koo, 73, had been struggling with an illness for a year, LG Group said in a statement. “Becoming the third chairman of LG at the age of …

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Economy

US, China Agree to Increased Trade Cooperation

By Yeco on Saturday, May 19, 2018

China and the United States said Saturday that they had reached consensus on steps to substantially reduce the U.S. trade deficit with Beijing. The announcement followed high-level talks in Washington and U.S. allegations that unfair Chinese trade practices meant the …

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Economy

India, EU Give WTO Lists of US Goods for Potential Tariff Retaliation

By Yeco on Friday, May 18, 2018

India and the European Union have given the World Trade Organization lists of the U.S. products that could incur high tariffs in retaliation for U.S. President Donald Trump’s global tariffs on steel and aluminum, WTO filings showed Friday. The EU …

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Economy

China Ends US Sorghum Anti-Dumping Probe, OKs Toshiba Deal

By Yeco on Friday, May 18, 2018

China has dropped an anti-dumping investigation and given long awaited approval for the sale of Toshiba’s memory chip business, in gestures that could suggest a thaw between Beijing and the U.S. as trade talks resumed in Washington. The Commerce Ministry …

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Economy

EU Mulls Direct Iran Central Bank Transfers to Beat US Sanctions

By Yeco on Friday, May 18, 2018

The European Commission is proposing that EU governments make direct money transfers to Iran’s central bank to avoid U.S. penalties, an EU official said, in what would be the most forthright challenge to Washington’s newly reimposed sanctions. The step, which …

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Economy

Switzerland Seeks a Study of Starting Its Own Cryptocurrency

By Yeco on Friday, May 18, 2018

Switzerland’s government has requested a report into the risks and opportunities of launching its own cryptocurrency, a so-called “e-franc” that would use technology similar to privately launched coins like bitcoin but have backing of the state. The lower house of …

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Economy

New US Sanctions Hit at Hezbollah-Linked Financier, Companies

By Yeco on Friday, May 18, 2018

The United States sought on Thursday to further choke off funding sources for Iranian-backed Hezbollah, imposing sanctions on its representative to Iran, as well as a major financier and his five companies in Europe, West Africa and the Middle East. …

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Economy

US Warns China Against Imposing ‘Political Correctness’ on US Firms

By Yeco on Thursday, May 17, 2018

U.S. officials and politicians say they are increasingly frustrated and looking for ways to fight back against what they see as China’s use of its market power to impose “politically correct” behavior on American companies. Airlines, retailers and hoteliers all …

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Economy

Trump Meets Chinese Vice Premier Amid Tough Trade Talks 

By Yeco on Thursday, May 17, 2018

President Donald Trump stepped into a round of tough trade talks with China on Thursday after the White House confirmed a meeting between the U.S. president and Chinese Vice Premier Liu He. The two world powers are taking part in …

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Economy

Bulgarian Truckers Protest Proposed EU Rules During Summit

By Yeco on Thursday, May 17, 2018

Hundreds of truck drivers blocked roads across Bulgaria on Thursday as European Union leaders met in Sofia, protesting proposed EU rules they say would cost their jobs and put their firms out of business. Transport company owners described the initiative, …

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Economy

Canada ‘Positive’ on NAFTA, Mexico Says Deal Possible by End-May

By Yeco on Thursday, May 17, 2018

Canadian Prime Minister Justin Trudeau on Thursday said he felt “positive” about talks to rework the NAFTA trade pact, while a top Mexican official held out hope a deal could be hammered out by the end of May. U.S. officials …

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Economy

European Commission to Move to Block US Sanctions on Iran

By Yeco on Thursday, May 17, 2018

The European Commission will initiate plans Friday to prohibit European companies from adhering to U.S. sanctions against Iran, a move to help keep the Iran nuclear agreement intact and to defend European corporate interests. “We have the duty to protect …

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Economy

Trump: US Has Not ‘Folded’ in Trade Dealing with China

By Yeco on Thursday, May 17, 2018

President Donald Trump says the United States has not “folded” in trade negotiations with China as both countries get set for another round of meetings. “We have not seen China’s demands yet,” Trump tweeted Wednesday. “The U.S. has very little …

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Economy

Argentina’s Currency Crisis Over, Macri says

By Yeco on Wednesday, May 16, 2018

President Mauricio Macri said Wednesday that Argentina’s currency crisis is over, speaking as the country’s currency rebounded somewhat and prices for its stocks and bonds rose.   Macri announced last week that Argentina was seeking a financing deal with the …

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Economy

Amsterdam Determined to Tame Tourism

By Yeco on Wednesday, May 16, 2018

Amsterdam unveiled far-reaching plans Wednesday to rein in tourism, reflecting the dissatisfaction of many residents who feel the city’s historic center has been overrun. The leading Green-Left and other parties negotiating a new municipal government after March elections vowed to return “Balance to the …

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Economy

US Pushes for NAFTA Deal as Thursday Deadline Approaches

By Yeco on Wednesday, May 16, 2018

The United States is pushing for a deal in negotiations on a revised North American Free Trade Agreement (NAFTA), the White House said Wednesday, but Canadian and Mexican officials were not due in Washington for talks before a Thursday deadline. …

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Economy

Venezuela Reactivates Kellogg Plant After Company Pullout

By Yeco on Wednesday, May 16, 2018

Venezuelan authorities said they were reactivating a Kellogg Co plant under worker control Wednesday, a day after the U.S. multinational food producer pulled out of the crisis-hit country. Kellogg joined a host of other multinationals in exiting Venezuela and later …

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