An International Monetary Fund (IMF) team arrives in Sri Lanka on Monday for talks on a bailout program, but time is short for a country just days from running out…
more ...US Treasury Chief: Biden Considering Gas Tax Holiday, Chinese Tariff Cuts
U.S. President Joe Biden is considering declaring a federal gas tax holiday and curbing some tariffs on imported Chinese goods to help Americans cope with the surging cost of consumer…
more ...Bitcoin Drops Below $20,000 as Crypto Selloff Quickens
The price of bitcoin fell below $20,000 Saturday for the first time since late 2020, in a fresh sign that the sell-off in cryptocurrencies is deepening. Bitcoin, the most popular…
more ...WTO Ministers Reach Deals on Fisheries, Food, COVID Vaccines
After all-night talks, members of the World Trade Organization early Friday reached a string of deals and commitments aimed at limiting overfishing, broadening production of COVID-19 vaccines in the developing…
more ...Wall Street Tumbles on Fears for Economy as More Rates Rise
Fear swept through financial markets Thursday, and Wall Street tumbled as worries roared back to the fore that the world’s fragile economy may buckle under higher interest rates. The S&P…
more ...Recession Is ‘Not Inevitable,’ Biden Says in AP Interview
President Joe Biden told The Associated Press on Thursday that the American people are “really, really down” after a tumultuous two years with the coronavirus pandemic, volatility in the economy…
more ...Amid Inflation Worries, Fed Delivers a Higher-Than-Expected Rate Hike
Amid a major stock market downturn, sharply rising inflation, and plummeting consumer confidence, the Federal Reserve Board interest rate-setting body decided Wednesday to raise interest rates by three-quarters of 1%…
more ...US Federal Reserve Imposes Large Interest Rate Hike
The U.S. Federal Reserve announced Wednesday it would raise interest rates by the largest amount in nearly 30 years in an effort to cool inflation without tipping the economy into…
more ...Cartier and Amazon Target Knock-offs in US Lawsuits
Amazon and Cartier joined forces Wednesday in U.S. court to accuse a social media influencer of working with Chinese firms to sell knock-offs of the luxury brand’s jewelry on the…
more ...Biden Tells Oil Refiners: Produce More Gas, Fewer Profits
President Joe Biden on Wednesday called on U.S. oil refiners to produce more gasoline and diesel, saying their profits have tripled during a time of war between Russia and Ukraine…
more ...Study: Facebook Fails to Catch East Africa Extremist Content
A new study has found that Facebook has failed to catch Islamic State group and al-Shabab extremist content in posts aimed at East Africa as the region remains under threat…
more ...LogOn: Companies Are Building the ‘Metaverse’ but What Is It?
Often touted as the next digital shift, the metaverse comprises three-dimensional online spaces where people can work, shop, play games, go to concerts and so on. Michelle Quinn on what…
more ...The S&P 500 is in a Bear Market; Here’s What That Means
Wall Street is back in the claws of a bear market as worries about inflation and higher interest rates overwhelm investors. The Federal Reserve has signaled it will aggressively raise…
more ...Fed Tries to Thread the Needle in Forecasting a ‘Softish’ Landing
U.S. Federal Reserve officials, beset by ongoing high inflation and a weakening growth picture, will lay out on Wednesday how they think their increasingly difficult goal of cooling the economy…
more ...SIPRI STUDY: World Headed for New Era of Nuclear Rearmament
After 35 years of decline, the number of nuclear weapons in the world is set to rise in the coming decade as global tensions flare amid Russia’s war in Ukraine,…
more ...WTO Chief Says ‘Cautiously Optimistic’ Ahead of High-Stakes Meet
The World Trade Organization chief voiced cautious optimism Sunday as global trade ministers gather to tackle food security threatened by Russia’s invasion of Ukraine, overfishing and equitable access to COVID…
more ...UK’s New Northern Ireland Trade Rules Will Not Break Law, Minister Says
Legislation that Britain will unilaterally bring forward on Monday to scrap some of the rules that govern post-Brexit trade with Northern Ireland will not break international law, minister Brandon Lewis…
more ...WTO Looks to Reach Trade Deals With its Fate on the Line
The World Trade Organization is facing one of its most dire moments, the culmination of years of slide toward oblivion and ineffectiveness. Now may be a chance to turn the…
more ...Toes-for-Cash Hoax Reflects Zimbabwe Fears of Soaring Prices
An internet rumor blazed through the country that desperate people were selling their toes for cash. The false report became so widespread that the country’s Deputy Minister of Information Kindness…
more ...Biden Takes Aim at Oil Companies as Inflation Rises
U.S. President Joe Biden said his administration is doing all it can to tackle inflation, placing blame for rising prices on oil and shipping companies, as new data show consumer…
more ...US Stocks Dive to Another Losing Week as Inflation Worsens
Wall Street’s realization that inflation got worse last month, not better as hoped, sent markets reeling on Friday. The S&P 500 sank 2.9% to lock in its ninth losing week…
more ...US Annual Inflation Posts Largest Gain in Nearly 41 Years as Food, Gasoline Prices Soar
WASHINGTON – U.S. consumer prices accelerated in May as gasoline prices hit a record high and the cost of food soared, leading to the largest annual increase in nearly 40…
more ...Why India Holds the Key to Global Rice Market Outlook
India’s surprise decision to ban wheat exports has raised concerns about potential curbs on rice exports as well, prompting rice traders to step up purchases and place atypical orders for…
more ...Teslas with Autopilot a Step Closer to Recall After Crashes
Teslas with partially automated driving systems are a step closer to being recalled after the U.S. elevated its investigation into a series of crashes with parked emergency vehicles or trucks…
more ...Ukraine War Threatens Pre-Pandemic Recovery of Global Foreign Direct Investment
U.N. economists are warning that the war in Ukraine threatens to upend last year’s recovery of foreign direct investment to pre-pandemic levels and send global investment flows spiraling downward in…
more ...Kenyan Firms Decry Share of Business Going to Global Shipping Lines
Even before the COVID-19 pandemic, Kenyan companies that unload freight ships and transport cargo faced growing competition from international shippers. Now, workers unions say unless steps are taken to protect local businesses…
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