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Economy

India’s Limits on Selling Cattle Could Hurt Industry, Diets

By Yeco on Monday, May 29, 2017

A new ban imposed by India’s government on the sale of cows and buffaloes for slaughter to protect animals considered holy by many Hindus is drawing widespread protests from state governments and animal-related industries. Many state governments criticized the ban …

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Economy

British Airways Is ‘Near-Full Operation’ After Computer Failure

By Yeco on Sunday, May 28, 2017

British Airways passengers continue to face delays, cancellations, and overcrowding Sunday at Heathrow Airport as the airline reels from a computer failure. The airline said that all long-haul flights will continue Sunday, but to avoid further overcrowding, passengers will only …

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Economy

US Military Veterans Trying to ‘Cultivate Peace’ in Afghanistan, Where They Served

By Yeco on Sunday, May 28, 2017

Saffron has long been one of the world’s most expensive spices. The saffron crocus that produces the spice grows mostly in parts of Europe, Iran and India. Now, a U.S. company seeking to “cultivate peace” is attracting attention to this …

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Economy

Report: Trump Tells ‘Confidants’ US Will Leave Paris Climate Deal

By Yeco on Sunday, May 28, 2017

U.S. President Donald Trump has told “confidants,” including the head of the Environmental Protection Agency, Scott Pruitt, that he plans to leave a landmark international agreement on climate change, the Axios news website reported Saturday, citing three sources with direct …

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Economy

Reports: US Job Market Remains Strong; Merchandise Trade Deficit Gets Worse

By Yeco on Thursday, May 25, 2017

New data Thursday paint a mixed picture of the U.S. economy. A report on the job market shows a slight increase in the number of people signing up for unemployment assistance last week. But the data also show that the …

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Economy

Trump Seeks to End Program for Older Jobless Americans

By Yeco on Thursday, May 25, 2017

Nathan Singletary is beyond the traditional retirement age, but he’s only just beginning a new career — helping other low-income, unemployed Americans over age 55 find jobs. Singletary got his job through the half-century-old Senior Community Service Employment Program, a …

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Economy

OPEC, Non-OPEC Nations Poised to Extend Output Cuts

By Yeco on Thursday, May 25, 2017

OPEC and other oil nations meeting Thursday appeared set to extend their production cuts in an effort to shore up prices. But the intended impact could be short-lived. That’s due to U.S. shale producers. With crude prices above $50 a …

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Economy

China Expands Globally Amid Concerns Over its Mercantilist Policies

By Yeco on Thursday, May 25, 2017

China recently rolled out a global economic initiative known as One Belt, One Road, named after the ancient Silk Road. Chinese President Xi Jinping says the initiative is aimed at promoting international cooperation, but former U.S. officials and some business …

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Economy

Treasury Chief Says US Reviewing Iran’s Aircraft Licenses

By Yeco on Thursday, May 25, 2017

U.S. Treasury Secretary Steven Mnuchin said on Wednesday that his department is reviewing licenses for Boeing Co and Airbus to sell aircraft to Iran, telling lawmakers he will increase sanctions pressure on Iran, Syria and North Korea. “We will use …

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Economy

Treasury Chief to Congress: Raise Debt Limit Before August

By Yeco on Wednesday, May 24, 2017

Treasury Secretary Steven Mnuchin told lawmakers on Wednesday that they should vote to increase the government’s borrowing authority — and avert a disastrous economic default — before their August recess. Within hours, the conservative House Freedom Caucus said it would …

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Economy

Moody’s Cuts China Credit Rating One Notch

By Yeco on Wednesday, May 24, 2017

Moody’s Investors Service downgraded China’s credit rating Wednesday – from Aa3 (Double A-3) to A1 – saying it expects China’s economy to erode in coming years as growth slows and its debt burden continues to rise. The downgrade comes as …

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Economy

New Deadline for Greece Set After Another Stalemate

By Yeco on Tuesday, May 23, 2017

Hopes for a breakthrough in negotiations for cash-strapped Greece were dashed again and another deadline was set. Greece once again failed to get approval from its European creditors to receive the next batch of bailout loans that it needs to …

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Economy

Proposed Trump Budget Spares Old-age Programs, Slashes Other Items

By Yeco on Tuesday, May 23, 2017

President Donald Trump is proposing to balance the federal budget within 10 years by slashing many social programs, including some that help the poor pay for food and medical care, called food stamps and Medicaid. Officials have outlined some new …

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Economy

Gambia’s Exiled President Accused of Massive Public Theft

By Yeco on Monday, May 22, 2017

Gambia’s government used a court order Monday to seize assets belonging to exiled former President Yahya Jammeh. They include nearly 90 bank accounts and 14 companies linked to Jammeh. Justice Minister Abubacarr Tambadou says Jammeh stole $50 million in public …

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Economy

Brazil Packed with Travel Riches, So Why So Few Tourists?

By Yeco on Monday, May 22, 2017

Brazil is home to the largest rainforest on Earth. It has miles of sandy, deserted beaches, and stunning flat-topped mountains. It invented samba and a devilish little drink called the caipirinha. It has massive reserves for native peoples and charming …

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Economy

Germany, France Pledge New Efforts to Strengthen Eurozone

By Yeco on Monday, May 22, 2017

Germany and France pledged Monday to seek ways to strengthen the 19-nation eurozone, with harmonizing corporate taxes among the possible measures they will mull over in the coming weeks.   German Finance Minister Wolfgang Schaeuble and new French counterpart Bruno …

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Economy

Boeing Co. Signs Defense, Commercial Deals with Saudi Arabia

By Yeco on Monday, May 22, 2017

Boeing Co said on Sunday it had signed several defense and commercial deals with Saudi Arabia including for the sale of military and passenger aircraft during a visit by U.S. President Donald Trump to the kingdom. The announcement is the …

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Economy

EU’s Moscovici Confident Eurogroup Will Reach Deal on Greece

By Yeco on Sunday, May 21, 2017

The European Commissioner for Economic and Financial Affairs, Pierre Moscovici, said on Sunday he was confident an agreement between Athens and its creditors could be found at a meeting of euro zone finance ministers on Monday in Brussels. Athens needs …

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Economy

Softbank-Saudi Tech Fund Becomes World’s Biggest With $93B of Capital

By Yeco on Saturday, May 20, 2017

The world’s largest private equity fund, backed by Japan’s Softbank Group and Saudi Arabia’s main sovereign wealth fund, said Saturday that it had raised over $93 billion to invest in technology sectors such as artificial intelligence and robotics. “The next …

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Economy

Job Prospects for 2017 College Grads, Best in More Than a Decade

By Yeco on Saturday, May 20, 2017

About 3 million Americans will enter the job pool this year as graduation ceremonies get underway at various colleges and universities across the United States. With unemployment at a 10-year low, 2017 is shaping up to be a good year …

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Economy

Hey, Graduates: Good Jobs Exist With or Without 4-Year Degree

By Yeco on Friday, May 19, 2017

About three million American university graduates will enter the job market this year. And with unemployment currently at a 10-year low, it’s a good time to be graduating, says Nicole Smith, chief economist at Georgetown University’s Center on Education and …

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Economy

Why Trump’s Combative Trade Stance Makes US Farmers Nervous

By Yeco on Friday, May 19, 2017

A sizable majority of rural Americans backed Donald Trump’s presidential bid, drawn to his calls to slash environmental rules, strengthen law enforcement and replace the federal health care law. But last month, many of them struck a sour note after …

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Economy

OPEC May Extend, Deepen Cuts to Oil Output

By Yeco on Friday, May 19, 2017

An OPEC panel reviewing scenarios for next week’s policy-setting meeting is looking at the option of deepening and extending an OPEC-led deal to reduce oil output, OPEC sources said Friday. OPEC’s national representatives — officials representing the 13 member countries, …

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Economy

Greek Parliament Approves More Economic Austerity

By Yeco on Friday, May 19, 2017

The Greek Parliament approved another round of tough economic cuts and austerity measures Thursday to assure itself another installment payment of European bailout funds. Greece may have again faced bankruptcy in July without the payment. More cuts for pensioners All …

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