America’s employers added a healthy 253,000 jobs in April, evidence of a labor market that still shows surprising resilience despite rising interest rates, chronically high inflation and a banking crisis…
more ...US Names Somali American National Small Business Person of Year
The U.S. Small Business Administration has named Abdirahman Kahin, a Somali American restaurant chain owner in Minneapolis, Minnesota, as the National Small Business Person of the Year for 2023. Mohamud…
more ...As Sales Decline, Adidas Faces Pressure to Find Yeezy Fix
Adidas is set to update investors Friday about the unsold Yeezy shoes that have put the German sportswear giant in a predicament since it cut ties with Kanye West over…
more ...US Central Bank Pushes Key Interest Rate Another Notch Higher
The Federal Reserve, the U.S. central bank, raised its benchmark interest rate by another quarter percentage point on Wednesday but signaled that it could pause further increases as it watches…
more ...Biden to Meet with Congressional Leaders in Effort to Avoid Default
President Joe Biden next week will meet with the Democratic and Republican leaders of the House and Senate in an effort to avoid a catastrophic default on the nation’s debts,…
more ...Ukraine Sowing Season Faces Wartime Obstacles
The sowing season is in full swing in Ukraine despite a series of significant challenges that farmers face as Russia continues its war on the country. The agricultural industry faces…
more ...US Job Openings Dip to 9.6 Million, Lowest Since 2021
U.S. job openings fell in March to the lowest level in nearly two years, a sign that the American labor market is cooling in the face of higher interest rates.…
more ...U.S. Regulator Seizes First Republic Bank, to Sell Assets to JP Morgan
The California Department of Financial Protection and Innovation said Monday it had closed First Republic Bank and agreed a deal to sell its assets to JPMorgan Chase & Co and…
more ...First Republic Auction Underway, with Deal Expected by Sunday
U.S. regulators are trying to clinch a sale of First Republic Bank over the weekend, with roughly half a dozen banks bidding, sources said on Saturday, in what is likely…
more ...Food Prices Fall on World Markets But Not on Kitchen Tables
A restaurant on the outskirts of Nairobi skimps on the size of its chapatis — a flaky, chewy Kenyan flatbread — to save on cooking oil. Cash-strapped Pakistanis reluctantly go…
more ...Disney Sues DeSantis, Claiming Unlawful Retaliation
Florida Governor Ron DeSantis’ very public feud with the Walt Disney Co. entered a new phase this week, when the entertainment conglomerate filed a lawsuit claiming that the governor and…
more ...Fed Faults Silicon Valley Bank Execs, Itself in Bank Failure
The Federal Reserve blamed last month’s collapse of Silicon Valley Bank on poor management, watered-down regulations and lax oversight by its own staffers, and it said the industry needs stricter…
more ...Greece Welcomes Return of Chinese Travelers
With the peak tourism season setting in, Greece is bracing for a record number of arrivals and is welcoming back Chinese tourists. The warm feelings follow a period of discontent…
more ...German Government, Unions Reach Pay Deal for Public Workers
German government officials and labor unions have reached a pay deal for more than 2.5 million public-sector workers, ending a lengthy dispute and heading off the possibility of disruptive all-out…
more ...Panama’s Geisha Coffee Fetches $100 a Cup
People worldwide have long been paying more for a premium cup of coffee. But what about a cost of over $100 for a cup? From Panama City, Panama, Oscar Sulbarán…
more ...China’s GDP Grew by 4.5% in Quarter, Boosted by Consumption
China’s gross domestic product grew 4.5% in the first quarter of the year, boosted by increased consumption and retail sales, after authorities abruptly abandoned the stringent “zero-COVID” strategy. The growth…
more ...House Speaker McCarthy: Republicans Will Raise US Debt Ceiling
U.S. House Speaker Kevin McCarthy pledged Monday that the narrow Republican majority in the House of Representatives will vote to raise the country’s debt ceiling to avert a default on…
more ...Senegal Gas Deal Drives Locals to Desperation, Prostitution
When the gas rig arrived off the coast of Saint-Louis, residents of this seaside Senegalese town found reason to hope. Fishing has long been the community’s lifeblood, but the industry…
more ...Cheaper Gas and Food Provide Some Relief from US Inflation
U.S. consumer inflation eased in March, with less expensive gas and food providing some relief to households that have struggled under the weight of surging prices. Yet prices are still…
more ...Rising Prices Threaten Erdogan’s May Reelection Bid
With Turkey in the grip of soaring food prices, the Islamic holy month of Ramadan offers respite for some with free meals offered to break the day of fasting. Analysts…
more ...Poll: 4 in 10 Americans Say Next Vehicle Will Be Electric
Many Americans aren’t yet sold on going electric for their next cars, a new poll shows, with high prices and too few charging stations the main deterrents. About 4 in…
more ...World Bank, IMF Spring Meetings Get Underway in Complex Economic Environment
The World Bank and International Monetary Fund’s spring meetings kick off this week with an ambitious reform and fundraising agenda likely to be overshadowed by concerns over high inflation, rising…
more ...California Seeks Federal Help for Salmon Fishers Facing Ban
California officials want federal disaster aid for the state’s salmon fishing industry, they said Friday following the closure of recreational and commercial king salmon fishing seasons along much of the…
more ...US Adds 236,000 Jobs Despite Fed’s Rate Hikes
America’s employers added a solid 236,000 jobs in March, reflecting a resilient labor market and suggesting that the Federal Reserve may see the need to keep raising interest rates in…
more ...Nigeria Secures $800 Million Ahead of Fuel Subsidy Removal
Nigeria has secured an $800 million relief package from the World Bank to help cushion the impact of a plan to remove in June a long-held fuel subsidy. Nigeria’s finance…
more ...To Counter China, US Trade Rep Seeks Closer Ties to Allies
The Biden administration is pressing its case for a new approach to global trade, arguing that America’s traditional reliance on promoting free trade pacts failed to anticipate China’s brass-knuckled brand…
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