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Economy

New Oyster War: Rich Homeowners vs. Working-class Watermen

By Yeco on Monday, May 1, 2017

Oystermen, pirates and police clashed violently more than a century ago over who could collect the Chesapeake Bay’s tasty and lucrative oysters. As the shellfish makes a comeback, a modern-day oyster war is brewing, this time between wealthy waterfront property …

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Economy

Fed Likely to Leave Rates Alone but Signals More Hikes Coming

By Yeco on Monday, May 1, 2017

With the U.S. economy on solid footing and unemployment at a near-decade low, the Federal Reserve remains in the midst of a campaign to gradually raise interest rates from ultra-lows. But this week, it’s all but sure to take a …

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Economy

UN Economic Commission Sees Trade Protectionism as Threat to Growth

By Yeco on Monday, May 1, 2017

A United Nations economic and social report released Monday warns Asia’s positive economic outlook “faces significant risk” from rising trade protectionism, especially concerns over U.S. trade policy with key partners such as China. The U.N.’s Economic and Social Commission for …

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Economy

Shrinking Worm Harvest Upsets Sports Fishing Business

By Yeco on Monday, May 1, 2017

A mysterious decline in two of the most popular fishing worms is depriving fishermen of their favorite bait and threatening the livelihood of Maine’s so-called “wormers.” VOA’s Faith Lapidus reports. …

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Economy

Thousands Take Part in World May Day Protests

By Yeco on Monday, May 1, 2017

Protesters in the United States and around the world have marked International Workers Day, May Day, with rallies and demonstrations that turned violent in displays of anger against authoritarianism and right-wing politics from France to Turkey. WATCH: Luis Ramirez video …

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Economy

Refugees Turn Skills From Home into New Business

By Yeco on Sunday, April 30, 2017

Once they acclimate to their new environment, overcoming language, social and cultural barriers, refugees in the U.S. often thrive. Some translate their experiences into assets that are valuable to their new community, as did Parvin and Yadollah Jamalreza. VOA’s June …

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Economy

Growth Slows in April in China’s Manufacturing Sector

By Yeco on Sunday, April 30, 2017

Growth in China’s manufacturing sector slowed in April, official data showed Sunday, pointing to an unsteady recovery in the world’s second-largest economy.    The monthly purchasing managers’ index by the Chinese Federation of Logistics and Purchasing fell to 51.2 in …

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Economy

On 100th Day in Office, Trump to Focus on Trade

By Yeco on Saturday, April 29, 2017

President Donald Trump will spend his 100th day in office talking tough on trade in one of the states that delivered his unlikely win.   The president is expected to sign an executive order Saturday that will direct his Commerce …

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Economy

Trump Signs Order Opening Arctic for Oil Drilling

By Yeco on Friday, April 28, 2017

President Donald Trump is re-opening for oil exploration areas that President Barack Obama had closed, a move that environmental groups have promised to fight. In an executive order Friday, the president reversed the Obama administration’s decision to prohibit oil and …

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Economy

US Economy Grows at Disappointing 0.7% in First Quarter

By Yeco on Friday, April 28, 2017

The latest economic data indicate the U.S. economy is growing at the slowest rate in three years. The GDP or gross domestic product, the broadest measure of all goods and services produced in the country, increased at a disappointing 0.7 …

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Economy

United Airlines Settles with Doctor Dragged Off Plane

By Yeco on Thursday, April 27, 2017

United Airlines reached an out-of-court settlement Thursday with a doctor who was dragged off one of its flights after he refused to give up his seat. The airline and Dr. David Dao’s lawyers agreed not to disclose the amount of …

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Economy

Investors Have High Hopes for Ghana, Says Finance Minister

By Yeco on Thursday, April 27, 2017

Ghana’s finance minister says investors were optimistic in meetings with senior government officials who accompanied Vice President Mahamudu Bawumia to the World Bank spring meetings in Washington. In an interview with VOA, Ken Ofori-Atta said investors detected a new energy, …

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Economy

Narrow Turkish Referendum Victory Reveals Economic Concerns

By Yeco on Thursday, April 27, 2017

Turkish President Recep Tayyip Erdogan’s referendum victory to extend his powers was bittersweet.   For the first time he lost in Turkey’s main cities, including Istanbul, which has been his electoral power base since 1994.  In the aftermath of his …

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Economy

Trump Agrees to ‘Renegotiate’ Trade Deal with Mexico, Canada

By Yeco on Thursday, April 27, 2017

President Donald Trump says phone conversations Wednesday with Mexican President Enrique Pena Nieto and Canadian Prime Minister Justin Trudeau persuaded him not to imminently withdraw the United States from their countries’ three-way trade pact. “They asked me to renegotiate. I …

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Economy

White House Backs Off as Lawmakers Work to Avert Shutdown

By Yeco on Thursday, April 27, 2017

Lawmakers are nearing agreement on sweeping spending legislation to keep the lights on in government, after the White House backed off a threat to withhold payments that help lower-income Americans pay their medical bills.   It was the latest concession …

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Economy

White House: US Not Withdrawing From NAFTA Now

By Yeco on Thursday, April 27, 2017

After reports that President Donald Trump was considering an executive order to withdraw the United States from the North American Free Trade Agreement, the White House said Wednesday that Trump agreed not to take such action after phone calls with …

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Economy

US Central Bank Could Lean Against Trump Tax Cut

By Yeco on Wednesday, April 26, 2017

President Donald Trump’s plan to slash business and household taxes could shift the U.S. economy into higher gear, but it may have one effect the White House would not welcome — interest rates ratcheted higher than expected by a wary …

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Economy

Ivanka Trump, World Bank Discuss Women Entrepreneur Fund

By Yeco on Wednesday, April 26, 2017

Ivanka Trump has been involved in discussions with the World Bank about establishing a funding operation to support female entrepreneurs, bank and administration officials said Wednesday. The officials stressed that nothing has been set up yet and that talks are …

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Economy

Mnuchin: Trump Has ‘No Intention’ of Releasing Tax Returns

By Yeco on Wednesday, April 26, 2017

President Donald Trump “has no intention” of releasing his tax returns to the public, Treasury Secretary Steve Mnuchin said Wednesday, asserting Americans have “plenty of information” about the president’s financial matters. For decades, presidents have released their tax returns. But …

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Economy

Trump’s Cuts to US Refugee Program Lead to 300-plus Layoffs

By Yeco on Wednesday, April 26, 2017

The president’s desire to cut refugees is also costing U.S. jobs. A reduction in refugee resettlement that began after an executive order by President Donald Trump in late January has led to at least 300 layoffs in the U.S. nonprofit …

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Economy

Romania: Hundreds of Taxis, Buses Protest Uber

By Yeco on Wednesday, April 26, 2017

Some 200 taxis and buses have parked outside the government offices in Romania’s capital, Bucharest, demanding that Uber and other online taxi services be outlawed in the country.    Transport in the already crowded city was disrupted Wednesday morning as …

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Economy

Canada Increasingly Draws Trump’s Ire

By Yeco on Tuesday, April 25, 2017

President Donald Trump and Commerce Secretary Wilbur Ross on Tuesday said they did not fear a trade war with Canada after American punitive action on lumber and milk. “They have a tremendous surplus with the United States,” Trump said, adding …

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Economy

Trump to Unveil Tax Plan Wednesday

By Yeco on Tuesday, April 25, 2017

Anticipation of U.S. President Donald Trump’s plans for big corporate and individual tax cuts spurred Wall Street to record highs Tuesday, and sent Asian markets soaring overnight. Trump is planning to unveil his tax plans Wednesday, with aides saying he …

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Economy

Jobs, Homes at Stake in US-Canada Trade Squabble

By Yeco on Tuesday, April 25, 2017

Canadian officials say a new tariff imposed by the Trump administration will raise the cost of new homes in the United States by $1,000 each, and shut 150,000 Americans out of home ownership. Washington’s decision also puts “thousands” of U.S. …

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