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Economy

MSCI to Add Chinese Mainland Shares to Emerging Markets

By Yeco on Tuesday, June 20, 2017

Chinese stocks will be included for the first time in a leading U.S. index of emerging market shares. The New York-based index giant MSCI said Tuesday that it would add 222 Chinese A shares beginning next year. “International investors have …

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Economy

As South Korea Seeks Reconciliation With the North, What’s in it for the US?

By Yeco on Tuesday, June 20, 2017

As South Korea’s new leadership works toward easing long strained inter-Korean relations, U.S. experts are eyeing the country’s conciliatory overtures to the Kim Jong Un regime, worried that a possible resumption of the Kaesong Industrial Complex could provoke discord with …

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Economy

US Top Court Hands Chevron Victory in Ecuador Pollution Case

By Yeco on Monday, June 19, 2017

The U.S. Supreme Court on Monday handed a victory to Chevron Corp. by preventing Ecuadorean villagers and their American lawyer from trying to collect on an $8.65 billion pollution judgment issued against the oil company by a court in Ecuador. …

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Economy

US Supreme Court Limits Where Companies Can be Sued

By Yeco on Monday, June 19, 2017

The U.S. Supreme Court on Monday tightened rules on where injury lawsuits may be filed, handing a victory to corporations by undercutting the ability of plaintiffs to bring claims in friendly courts in a case involving litigation over the Bristol-Myers …

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Economy

BRICS Meeting Highlights Climate Change, Trade, Terrorism

By Yeco on Monday, June 19, 2017

Climate change, trade and terrorism were highlighted Monday at a Beijing meeting of foreign affairs officials from Brazil, Russia, India, China and South Africa, known collectively as the BRICS nations. The five nations are seeking to further align their views …

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Economy

With Whole Foods, Amazon on Collision Course With Wal-Mart

By Yeco on Sunday, June 18, 2017

When Wal-Mart Stores Inc. bought online retailer Jet.com for $3 billion last year, it marked a crucial moment — the world’s largest brick-and-mortar retailer, after years of ceding e-commerce leadership to arch rival Amazon, intended to compete. On Friday, Amazon.com Inc. …

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Economy

Tax Overhaul in Trouble as Opposition to Import Tax Grows

By Yeco on Sunday, June 18, 2017

A key part of House Republicans’ plan to overhaul the way corporations pay taxes is on life support, leaving lawmakers scrambling to save one of President Donald Trump’s biggest priorities and increasing the chances the GOP will simply pass a …

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Economy

Farmers Blast Trump’s Cuba Retreat as Bad for Trade

By Yeco on Saturday, June 17, 2017

U.S. farm groups criticized President Donald Trump’s decision to retreat from his predecessor’s opening toward Cuba, saying it could derail huge increases in farm exports that totaled $221 million last year. A trade delegation from Minnesota, one of the largest …

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Economy

Estonia Upstart Taxify Wants to Take on Uber

By Yeco on Saturday, June 17, 2017

The key to success for ride-hailing providers like Uber is keeping drivers happy so they run their app, ensuring that enough cars respond to passenger demand. Estonia upstart Taxify is hoping to win over drivers and take on Uber Technologies …

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Economy

Colombia Reaches Deal to End 37-day Teachers’ Strike

By Yeco on Saturday, June 17, 2017

Colombia on Friday reached a deal with public school teachers to end a 37-day strike that has kept millions of children out of classes, amid criticism the government has failed to keep its promise to improve public education after a …

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Economy

After 41 Years, McDonald’s Ends Olympics Sponsorship

By Yeco on Saturday, June 17, 2017

McDonald’s Corp ended its 41-year-old sponsorship of the Olympic Games three years early, the International Olympic Committee said Friday, reflecting the U.S. fast-food giant’s focus on its core business as well as rising Olympics sponsorship costs and declining TV ratings. …

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Economy

Trump Finances: Mar-a-Lago, DC Hotel Revenue Up

By Yeco on Saturday, June 17, 2017

President Donald Trump’s Washington hotel saw almost $20 million in revenue during its first few months of operation, a period that coincided with his election and inauguration as the 45th president. His Mar-a-Lago resort in Florida, which he’s visited seven …

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Economy

Transport Strike Brings ‘Black Friday’ to Italian Cities

By Yeco on Friday, June 16, 2017

Nationwide strikes left commuters and tourists stranded across Italy on Friday, as transport unions called for better job conditions for workers and protested against privatization. Underground and overground trains, airplanes and buses were cancelled in a series of strikes over …

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Economy

Greece Dodges New Crisis, but Austerity Remains Part of Life

By Yeco on Friday, June 16, 2017

Greek stocks rallied to two-year highs Friday after the government struck a deal with European creditors that means the country won’t face another brush with bankruptcy anytime soon. However, for austerity-weary Greeks, the deal does little to lift the pall …

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Economy

Africa’s ‘Large and Dynamic’ Economies Cannot Be Ignored

By Yeco on Friday, June 16, 2017

From the president of Mozambique to the US Secretary of Commerce, greater US economic engagement in Africa is the dominant theme at this year’s business summit organized by the Corporate Council on Africa. VOA Correspondent Mariama Diallo was there and …

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Economy

US Moves to Seize DiCaprio’s Picasso, ‘Stolen’ Funds in 1MDB Case

By Yeco on Friday, June 16, 2017

U.S. authorities moved on Thursday to seize a Picasso painting given to American movie star Leonardo DiCaprio and the rights to two Hollywood comedies, as they filed complaints to recover about $540 million they say was stolen from the 1Malaysia …

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Economy

White House Lacks Plan to Address Debt Ceiling

By Yeco on Friday, June 16, 2017

The White House lacks a unified plan to increase the government’s borrowing cap as a likely September deadline is drawing near, said Mick Mulvaney, director of the Office of Management and Budget. A failure by Congress to raise the debt …

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Economy

Military-linked Business Enterprises Dominate in Cuba

By Yeco on Friday, June 16, 2017

American tourists strolling the ample squares and narrow streets of colonial Havana may not know it, but from novelist Ernest Hemingway’s famed Floridita bar to Sloppy Joe’s eatery, they are probably patronizing businesses owned by Cuba’s military. It is that …

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Economy

Indonesia Plows Ahead on Fisheries Protection, Despite Resource Constraints

By Yeco on Thursday, June 15, 2017

Foreign fishing in Indonesian waters has long been a concern for the government, for which it has recently taken a literally explosive approach: blowing up illicit fishing boats. But the country’s wildly popular Minister of Marine Affairs lobbied the United …

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Economy

Reports: US Job Market Stronger, But Credit Card Bills Rising

By Yeco on Thursday, June 15, 2017

New data show the U.S. job market becoming a bit stronger, while credit card costs are increasing for American consumers. Thursday’s report from the Labor Department says the number of newly-laid off workers signing up for assistance fell 8,000 last …

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Economy

US Senate Approves Russia Sanctions

By Yeco on Thursday, June 15, 2017

The U.S. Senate voted 98-2 Thursday to approve sweeping sanctions against Russia and make it harder for President Donald Trump to ease punitive measures against Moscow. “We have no time to waste,” said Republican Senator John McCain of Arizona. “The …

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Economy

Trump Orders More Cash, Industry Input, for Apprenticeships

By Yeco on Thursday, June 15, 2017

President Donald Trump on Thursday ordered more money and a bigger role for private companies in designing apprenticeship programs meant to fill some of the 6 million open jobs in the U.S.   Trump signed an executive order to roughly …

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Economy

US Central Bank Hikes Key Interest Rate Amid Weaker Than Expected Data

By Yeco on Thursday, June 15, 2017

The U.S. central bank raised its benchmark interest rate Wednesday amid concerns about sluggish growth, a slowdown in consumer spending and low inflation. But the head of the U.S. Federal Reserve says the one-quarter of 1 percent increase in the …

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Economy

Kushner Company Drops Tax Break Request in New Jersey

By Yeco on Thursday, June 15, 2017

The real estate firm owned by the family of Jared Kushner has withdrawn a request for a big tax break for one its buildings in Jersey City, New Jersey, the latest setback for the company in the area.   The …

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