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Economy

McDonald’s Sees Its Future: Be More Convenient

By Yeco on Thursday, July 13, 2017

McDonald’s is hoping to make a difference in its future seven seconds at a time.   The company that helped define fast food is making supersized efforts to reverse its fading popularity and catch up to a landscape that has …

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Economy

Coal Mine Crackdown Dims Prospects for Mongolia’s Fortune Seekers

By Yeco on Thursday, July 13, 2017

Working 50 meters (164 feet) under ground with minimal air supply, Uuganbaatar is one of thousands of Mongolians trying to make a living digging for coal. Although the mining season does not begin until autumn, when the ground freezes and …

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Economy

Britain Hails Spanish Investment as Sign of Confidence in Economy

By Yeco on Thursday, July 13, 2017

Spanish companies will commit millions of pounds of investment to Britain on Thursday, the British government said, as it seeks to limit the economic impact of leaving the European Union. The investment plans, which include building trains and trams in …

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Economy

Tanzania’s Women Street Cooks Hope for Safety, Loans

By Yeco on Thursday, July 13, 2017

It’s nearly midday at the bustling Tegeta bus terminal in Tanzania’s biggest city and Olivia Mbiku is busy preparing ugali – a popular maize meal – beef stew and vegetables for her customers. “I wake up early, light up the …

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Economy

Brazil House Speaker Stands Up to President on Labor Reform

By Yeco on Wednesday, July 12, 2017

The speaker of Brazil’s lower house vowed Wednesday to fight any changes President Michel Temer makes to a labor reform bill passed by the Senate, highlighting new tension between longtime political allies. The speaker, Rodrigo Maia, would replace Temer if …

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Economy

Zambia Emergency Declaration Divides Politics, Could Scare Investors

By Yeco on Wednesday, July 12, 2017

Zambia’s parliament has imposed a 90-day state of emergency, after the president last week declared the need for one. The situation is likely to deepen the political crisis in the country, and analysts say it also could scare away much …

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Economy

Iraq Plans to Offer New Exploration Rights for Oil, Gas

By Yeco on Wednesday, July 12, 2017

Iraq says it will offer new oil and gas exploration rights as it looks to boost energy revenues to fund its war against the Islamic State group and shore up its finances amid low oil prices.   Oil Minister Jabar …

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Economy

Yellen Words to be Parsed for Clues to Rates, Her Future

By Yeco on Wednesday, July 12, 2017

When Janet Yellen delivers her testimony on the Federal Reserve’s semiannual report to Congress on Wednesday, investors may listen as much for clues to her own future – and the Fed’s – as they will to what she says about …

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Economy

Takata Announces Another Recall of Air Bags

By Yeco on Wednesday, July 12, 2017

Japanese car parts company Takata on Tuesday recalled another 2.7 million air bags that it previously thought were safe. The recall affects certain Ford, Mazda and Nissan cars from the 2005 through 2012 model years. Takata’s air bags are inflated …

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Economy

With Boko Haram Threat Receding, Nigeria Allows Fishing to Resume in Lake Chad

By Yeco on Wednesday, July 12, 2017

Three years ago, at the peak of the Boko Haram insurgency, Nigerian soldiers stopped all fishing activities in the country’s section of Lake Chad. Militants had infiltrated the ranks of the fishermen, the army said, and were using the guise …

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Economy

Trial Begins in Japan for CEO of Failed Bitcoin Exchange Mt. Gox

By Yeco on Tuesday, July 11, 2017

The former chief executive officer of the failed Bitcoin exchange Mt. Gox pleaded not guilty to charges that he stole hundreds of millions of dollars’ worth of the virtual currency. French-born Mark Karpeles appeared Tuesday in Tokyo District Court at …

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Economy

Trump to Nominate Quarles to Be Fed’s Top Banking Regulator

By Yeco on Tuesday, July 11, 2017

U.S. President Donald Trump plans to nominate former Treasury official Randal Quarles to be the Federal Reserve’s top banking regulator, the White House said on Monday. If confirmed by the Senate, Quarles would be the first vice chair of supervision …

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Economy

US Expected to Scrap Visa Program for Entrepreneurs

By Yeco on Tuesday, July 11, 2017

President Donald Trump’s administration is postponing and plans to drop a program to provide visas for foreign entrepreneurs who launch companies in the United States. The visa program, proposed last year by former President Barack Obama, was intended to give …

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Economy

Tanzania’s President Signs New Mining Bills into Law

By Yeco on Monday, July 10, 2017

Tanzanian President John Magufuli said on Monday he has signed into law new mining bills which require the government to own at least a 16 percent stake in mining projects. The laws, which also increase royalties tax on gold and …

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Economy

Musk Tweets Pictures of First Model 3 to Roll Off the Line

By Yeco on Monday, July 10, 2017

Tesla Inc. Chief Executive Elon Musk on Sunday tweeted pictures of the first Model 3 sedan to roll off the assembly line. Tesla board member Ira Ehrenpreis was the first to put down a $1,000 deposit on the Model 3 …

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Economy

China’s COSCO to Buy Orient Overseas for $6.3 Billion

By Yeco on Monday, July 10, 2017

China’s biggest shipping company, state-owned COSCO Shipping Holdings Co., is creating the world’s No. 3 container shipping giant by acquiring rival Orient Overseas (International) Ltd. Shares in both companies surged Monday following the announcement of the $6.3 billion deal. A …

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Economy

Rural Amazon Violence Rises Amid Bureaucracy Over Land Titles

By Yeco on Monday, July 10, 2017

For a farmer in Brazil’s Amazon, Manoel Freire Camurca was doing pretty well for himself until a local power broker burned down his house and took the surrounding fields he had poured his life into. Camurca’s eviction eight months ago …

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Economy

At France’s Davos, French Bosses Laud Impact of New President

By Yeco on Sunday, July 9, 2017

Top French company bosses who have for years lamented their country’s slow pace of reforms at an annual summer gathering in Provence offered glowing praise this year for the first steps taken by newly elected President Emmanuel Macron. Sixty days …

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Economy

In India, Drug Makers Try to Stay a Step Ahead of FDA

By Yeco on Sunday, July 9, 2017

In 28 years in India’s pharmaceuticals sector, Rajiv Desai has never been busier. Most of the last six months on his desk calendar is marked green, indicating visits to the 12 plants of Lupin, India’s No. 2 drugmaker, where Desai …

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Economy

Canada’s Desjardins Suspends Lending for Energy Pipelines

By Yeco on Sunday, July 9, 2017

Canadian lender Desjardins is considering no longer funding energy pipelines, a spokesman said Saturday, citing concerns about the impact such projects may have on the environment. Desjardins, the largest association of credit unions in North America, Friday temporarily suspended lending …

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Economy

Trump Is Biggest Attraction at G-20 Summit

By Yeco on Saturday, July 8, 2017

The G-20 summit of the world’s richest economies wrapped up Saturday against a backdrop of angry protests, and a pledge by leaders to fight protectionism in the face of U.S. President Donald Trump’s “America First” policy and Brexit. The U.S. …

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Economy

US, Russia on Collision Course Vying for Europe Gas Market

By Yeco on Saturday, July 8, 2017

Visiting Poland this week, U.S. President Donald Trump pledged to boost exports of American liquefied natural gas (LNG) to Central Europe and take on Russia’s stranglehold on energy supplies. “America stands ready to help Poland and other European nations diversify …

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Economy

US, Russia on Collision Course in Competition for European Gas Market

By Yeco on Saturday, July 8, 2017

Visiting Poland this week, US President Donald Trump pledged to boost exports of American liquefied natural gas (LNG) to Central Europe, challenging Russia’s dominance of the market. Many European countries accuse Moscow of using energy as a political tool. As …

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Economy

US Economy Adds 222,000 Jobs in June; Wages Remain Flat

By Yeco on Saturday, July 8, 2017

Job creation in the U.S. appears to have picked up speed, with employers adding 222,000 jobs last month. But the unemployment rate ticked higher as more Americans resumed their job search. That’s probably a good thing, according to some economists …

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