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Economy

US Older-worker Rate Highest Since 1962

By Yeco on Friday, May 5, 2017

More Americans age 65 and over are still punching the clock. In fact, the last time the percentage was this high was when John F. Kennedy was in the White House. Last month, 19 percent of Americans age 65 and …

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Economy

Venezuela Full of Strife With Empty Refrigerators

By Yeco on Friday, May 5, 2017

In Venezuela, plagued with chronic food shortages and a devastated economy, Carmen Elena Perez describes her refrigerator as merely “an ornament in my kitchen, because filling it costs me too much money.” Dulce Maria Garcia Leon, in the western state …

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Economy

US Investigates Malfunctioning Nissan Automobile Brakes

By Yeco on Friday, May 5, 2017

The United States office that handles highway safety announced it would investigate complaints that brakes can malfunction on Nissan’s popular Murano SUV. According to documents released Friday by the National Highway Traffic Safety Administration, nearly 60 people have complained that …

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Economy

Delta Apologizes for Kicking Family Off Flight

By Yeco on Friday, May 5, 2017

After yet another viral video has surfaced of people being kicked off an overbooked plane. Delta Air Lines has apologized. In a statement, the company said it was “sorry for the unfortunate experience.” The video, posted by Brian and Brittany Schear, …

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Economy

Analyst: Trump Tax Plan Benefits Skew Toward the Wealthy

By Yeco on Friday, May 5, 2017

Small-business owners are applauding President Donald Trump’s plan to overhaul the tax system, saying lower taxes for everyone means more buying power for consumers and more money for businesses to hire workers. But can the White House plan simplify the …

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Economy

Japan, China, S. Korea Pledge to Resist Protectionism

By Yeco on Friday, May 5, 2017

Finance leaders of Japan, China and South Korea agreed to resist all forms of protectionism in a trilateral meeting on Friday, taking a stronger stand than G20 major economies against the protectionist policies advocated by U.S. President Donald Trump. “We …

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Economy

Trump Tax Plan a Hastily Drawn Wish List, Analyst Says

By Yeco on Thursday, May 4, 2017

Last week, the White House unveiled what it called “the largest tax reform in U.S. history.”  Gary Cohn, who heads the President’s National Economic Council said, “We’re going to cut taxes for businesses to make them competitive and we’re going …

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Economy

Tillerson Meets ASEAN Ministers to Seek Support on North Korea

By Yeco on Thursday, May 4, 2017

U.S. Secretary of State Rex Tillerson met Southeast Asian foreign ministers on Thursday to seek their support in pressing North Korea to give up its nuclear and missile programs. Tillerson’s first meeting with all members of the 10-nation Association of …

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Economy

EU Accepts Amazon’s e-book Commitments

By Yeco on Thursday, May 4, 2017

The European Union’s competition watchdog says it accepts commitments made by online giant Amazon to change part of its e-book contracts to avoid fines for anti-competitive behavior.   Amazon has promised not to enforce any contract clause that might oblige …

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Economy

Eurozone Economy Growing at ‘Fastest Rate in 6 Years’

By Yeco on Thursday, May 4, 2017

A closely watched survey indicates that economic growth across the 19-country eurozone struck a 6-year high in April. Financial information company IHS Markit says Thursday that its purchasing managers’ composite output index — a broad gauge of economic activity — …

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Economy

Plan to Trim Brazil’s Social Security Clears Hurdle

By Yeco on Thursday, May 4, 2017

President Michel Temer’s proposal to reform Brazil’s costly social security system cleared a committee vote Wednesday, but the measure, deeply unpopular with voters, faces an uphill battle in the full Congress. The committee voted 23-14 to approve the constitutional amendment, …

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Economy

VA Official Looks to Close About 1,100 VA Buildings

By Yeco on Thursday, May 4, 2017

Veterans Affairs Secretary David Shulkin says his department is seeking to close perhaps more than 1,100 VA facilities nationwide as it develops plans to allow more veterans to receive medical care in the private sector. At a House hearing Wednesday, …

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Economy

Urban League Report Notes Gains by Blacks, Hispanics in US

By Yeco on Wednesday, May 3, 2017

African-Americans and Hispanics, the largest racial and ethnic minorities in the United States, made positive strides economically and educationally during the past year but continue to lag behind whites, a civil rights group’s annual study contends. “The theme of this …

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Economy

You Are Welcome Here, US Colleges Assure Overseas Students

By Yeco on Wednesday, May 3, 2017

On a trip to India, the president of Portland State University reassured prospective students they’d be safe on his campus. Purdue University sent overseas applicants a note from two mayors touting Indiana’s “friendly smiles” and hospitality. And dozens of other …

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Economy

Royal Caribbean Cruises Returning to New Orleans

By Yeco on Wednesday, May 3, 2017

Royal Caribbean International has announced it will resume weeklong cruises from New Orleans to the Bahamas and Mexico’s Yucatan Peninsula. News outlets report Royal Caribbean said in a news release Monday that their 2,435-passenger Vision of the Seas cruise ship …

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Economy

Apple Posts Surprise Dip in iPhone Sales, Shares Fall

By Yeco on Wednesday, May 3, 2017

Apple Inc. reported a surprise fall in iPhone sales for its second quarter on Tuesday, indicating that customers may have held back purchases in anticipation of the 10th-anniversary edition of the company’s most important product later this year. Under pressure …

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Economy

Congress Warns US Airlines to Improve Customer Service

By Yeco on Wednesday, May 3, 2017

U.S. lawmakers have put the nation’s airlines on notice: Improve customer service or we will make you. The House Transportation and Infrastructure Committee held a hearing for top airline executives to testify, and to determine how Congress might respond after …

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Economy

Greece Reaches Deal with Eurozone Lenders for More Bailout Funds

By Yeco on Tuesday, May 2, 2017

Greece reached a deal with its European lenders Tuesday for more reforms in exchange for a badly needed bailout installment so Athens could avoid possible bankruptcy. After months of often tough talks, Greek officials agreed to more pension cuts and …

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Economy

Trump Nominee for China Envoy Pledges to Tackle Steel Trade

By Yeco on Tuesday, May 2, 2017

President Donald Trump’s nominee to be the U.S. ambassador to China said on Tuesday he would do everything possible to address what he called China’s “unfair and illegal” sales of underpriced steel in the world market. “I want to do …

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Economy

As Oil Prices Dip, African Countries Spend Less on Military

By Yeco on Tuesday, May 2, 2017

African military expenditures have finally slowed down after more than a decade of steady increases, according to a new report on global defense spending. The main reason, the report found, is a drop in oil prices. “The sharp decreases in …

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Economy

Indian IT Company to Add 10,000 US Jobs

By Yeco on Tuesday, May 2, 2017

India-based technology company Infosys said Tuesday it will create 10,000 jobs in the United States, growing its American footprint at a time when it has become a political target in the U.S. Infosys has been a big user of H1-B …

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Economy

GOP Targets Law Enacted After 2008 Financial Meltdown

By Yeco on Tuesday, May 2, 2017

Republicans who eagerly awaited a GOP president so they could take a heavy knife to many of the regulatory requirements for banks, insurers and other financial institutions finally get their chance. The House Financial Services Committee, led by Texas Rep. …

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Economy

Fed Set to Leave Interest Rates Unchanged

By Yeco on Tuesday, May 2, 2017

The U.S. Federal Reserve is expected to hold interest rates steady at its meeting this week as it pauses to parse more economic data but may hint it is on track for an increase in June. The central bank is …

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Economy

With Visas Tight, US Resorts Struggle to Find Seasonal Help

By Yeco on Tuesday, May 2, 2017

Innkeepers, restaurateurs and landscapers around the U.S. say they’re struggling to find seasonal help and turning down business in some cases because the government tightened up on visas for temporary foreign workers. At issue are H-2B visas, which are issued …

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