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Economy

Mexico Sees End 2018 as Best Case for Implementing New NAFTA

By Yeco on Thursday, August 3, 2017

Under a best-case scenario, a newly negotiated North American Free Trade Agreement (NAFTA) would not be implemented before the end of next year or the start of 2019, Mexico’s economy minister said Thursday. Among other issues, NAFTA talks would focus …

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Economy

More Women Starting Businesses in US

By Yeco on Thursday, August 3, 2017

Women in the United States are starting bushiness at one and a half times the rate of their male peers. Effective entrepreneurship could help cut the economic gap between women and men, which the World Economic Forum says could otherwise …

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Economy

Trump May Boost Pressure on China Over Trade, North Korea

By Yeco on Thursday, August 3, 2017

U.S. President Donald Trump may soon attempt to increase pressure on China to change its trade practices and do more to stop North Korea’s weapons programs.   Reports in the financial press say President Trump may sign an order as …

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Economy

Avon CEO McCoy to Leave Company

By Yeco on Thursday, August 3, 2017

Avon’s CEO will leave the company in March as the struggling beauty products maker continues a turnaround campaign.   Sheri McCoy has led the company for five years and sits on the board, but there has been some external pressure …

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Economy

Miners Union, Federal Officers at Odds Over Increase in US Coal Deaths

By Yeco on Thursday, August 3, 2017

Deaths in U.S. coal mines this year have surged ahead of last year’s, and federal safety officials say workers who are new to a mine have been especially vulnerable to fatal accidents. But the nation’s coal miner’s union says the …

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Economy

Top Democrats Back Trump on China Trade Probe

By Yeco on Thursday, August 3, 2017

Three top Democratic senators, in a rare show of bipartisanship, on Wednesday urged U.S. President Donald Trump to stand up to China as he prepares to launch an inquiry into Beijing’s intellectual property and trade practices in coming days. Senate …

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Economy

Dow Jones Closes Above 22,000 — a 6th-straight Record High

By Yeco on Thursday, August 3, 2017

The Dow Jones Industrial Average set a sixth-straight record Wednesday, closing above 22,000 for the first time, but experts point out that whatever goes up must always come down. The Dow closed up a fraction at 22,016. Healthy earnings reports …

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Economy

No More Freebies? India Plans Crackdown on Marketing by Drugmakers

By Yeco on Wednesday, August 2, 2017

India, one of the world’s largest markets for pharmaceuticals, is drawing up its first set of marketing rules for drugmakers, restricting gifts and trips offered to doctors and pharmacists to 1,000 rupees ($15), according to a draft proposal seen by …

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Economy

US Congress’ Next Big Battle: Tax Reform

By Yeco on Wednesday, August 2, 2017

As the U.S. stock market hit a new all-time high Wednesday, key U.S. lawmakers staked out core positions for a looming battle that could impact economic performance for decades: reforming America’s complicated and much-maligned tax system. “Comprehensive tax reform represents …

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Economy

Egypt Reserves Reach Record High of Over $36 Billion

By Yeco on Wednesday, August 2, 2017

Egypt’s foreign reserves reached over $36 billion in July, a record high, which the prime minister described as “good news” as it shows that the economy is recovering, the central bank said Tuesday. The bank announced the increase in a …

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Economy

European Oil Majors Seek to Harness US Offshore Wind

By Yeco on Wednesday, August 2, 2017

Some European oil majors have made inroads into the emerging U.S. offshore wind energy market, aiming to leverage their experience of deepwater development and the crowded offshore wind arena at home. Late entrants to the offshore wind game in Europe, …

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Economy

Qatar Files WTO Complaint Against Trade Boycott

By Yeco on Tuesday, August 1, 2017

Qatar filed a wide-ranging legal complaint at the World Trade Organization on Monday to challenge a trade boycott by Saudi Arabia, Bahrain and United Arab Emirates, the director of Qatar’s WTO office, Ali Alwaleed al-Thani, told Reuters. By formally “requesting …

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Economy

Crocodile Industry Hopes to Boost Australia Aboriginal Communities

By Yeco on Sunday, July 30, 2017

The crocodile industry in Australia’s Northern Territory, a new report says, is worth more than four times the previous estimate of US $80 million. Officials hope the findings will give poorer aboriginal communities the chance to develop crocodile farming industries. …

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Economy

After Drought, California Looks to Replenish Aquifers

By Yeco on Thursday, July 27, 2017

At the Terranova Ranch near Fresno, California, general manager Don Cameron examines grapes in a vineyard that workers flooded last spring. Winter rains had ended a severe drought and he was engaged in “groundwater recharge,” returning unused water from the …

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Economy

US Weekly Requests for Jobless Aid Up 10K, to 244,000

By Yeco on Thursday, July 27, 2017

More Americans applied for jobless aid last week, though the number of people seeking benefits remains near historic lows pointing to a healthy job market. THE NUMBERS: Weekly unemployment applications rose by 10,000 to 244,000, the Labor Department said Thursday. …

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Economy

China to Speed Up Bullet Trains in September

By Yeco on Thursday, July 27, 2017

China plans to raise the speed of its bullet trains back up to 350 kph (217 mph), state media reported on Thursday, six years after a deadly high-speed rail crash prompted authorities to slow trains across the country. Trains on …

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Economy

Samsung Poised to Unseat Intel as King of Microchips

By Yeco on Thursday, July 27, 2017

Intel’s more than two decade-long reign as the king of the silicon-based semiconductor is poised to end Thursday when South Korea’s Samsung Electronics elbows the U.S. manufacturer aside to become the leading maker of computer chips. Samsung reported record-high quarterly …

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Economy

Amazon Reaches for Millions in Southeast Asia’s Cyberspace

By Yeco on Thursday, July 27, 2017

Amazon is introducing express delivery to Singapore in its first direct effort to tap into surging online shopping in fast-growing Southeast Asia. The American e-commerce company announced Thursday it will begin operating a distribution facility bigger than a football field …

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Economy

Fed Holds Key Rate Steady, Will Reduce Holdings ‘Relatively Soon’

By Yeco on Wednesday, July 26, 2017

Leaders of the U.S. central bank said Wednesday that they were holding their benchmark lending rate at a low level — in a range between 1 and 1.25 percent — for the time being.   Federal Reserve officials said in …

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Economy

Lift Debt Limit Before Recess, Mnuchin Urges Congress

By Yeco on Wednesday, July 26, 2017

U.S. Treasury Secretary Steven Mnuchin on Wednesday urged federal lawmakers to raise the federal debt limit before they leave Washington for their August recess to avoid increased interest costs to taxpayers and market uncertainty about a potential default. Mnuchin told …

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Economy

White House: Foxconn to Bring 3,000 Manufacturing Jobs to Wisconsin

By Yeco on Wednesday, July 26, 2017

Foxconn, a Taiwanese electronics manufacturer and major supplier to Apple Inc., has announced plans to build a $10 billion plant in the U.S. state of Wisconsin, to make LCD display screens. The company, formally known as Hon Hai Precision Industry …

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Economy

EU Warns US It May Counter New Sanctions on Russia

By Yeco on Wednesday, July 26, 2017

The European Union warned on Wednesday that it was ready to act within days to counter proposed new U.S. sanctions on Russia, saying they would harm the bloc’s energy security. Sanctions legislation overwhelmingly approved by the U.S. House of Representatives …

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Economy

Amazon Goes on Hiring Spree as Labor Market Tightens

By Yeco on Wednesday, July 26, 2017

 Amazon has some job openings. Lots of them. The company said Wednesday that it’s looking to fill more than 50,000 positions across the U.S.   It’s planning to make thousands of offers on the spot on Aug. 2, when it …

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Economy

US Startups Led by Women Attract Sliver of Venture Cash, Study Finds

By Yeco on Wednesday, July 26, 2017

Promising startups in the United States receive a shred of the billions of dollars investors pump into them when led by women, a major study found Tuesday. Between 2011 and 2013, companies with a female CEO received $1.5 billion of …

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