Washington — The Federal Reserve is gearing up to announce its first interest rate cut for more than four years on Wednesday, with policymakers expected to debate how big a move…
more ...China’s economy softens in August as Beijing grapples with lagging demand
BEIJING — China’s economy softened in August, extending a slowdown in industrial activity and real estate prices as Beijing faces pressure to ramp up spending to stimulate demand. Data published by…
more ...White House takes aim at Chinese fast fashion
Washington — The White House said on Thursday it is acting on Democratic lawmakers’ demands to close what they see as a legal loophole that allows manufacturers — most from China — to…
more ...US inflation reaches 3-year low as Federal Reserve prepares to cut interest rates
Washington — The post-pandemic spike in U.S. inflation eased further last month as year-over-year price increases reached a three-year low, clearing the way for the Federal Reserve to cut interest rates…
more ...European business confidence in China is at an all-time low, report says
HONG KONG — China must reprioritize economic growth and reforms and boost investor confidence by leveling the playing field for all companies in the country, a European business group said Wednesday. …
more ...African nations boost gold reserves amid economic uncertainty
Nairobi, Kenya — Central banks in Africa are turning to gold to protect themselves from economic and geopolitical instability and to diversify their financial portfolios. In September 2023, the price of…
more ...Google loses final EU court appeal against $2.7 billion fine in antitrust shopping case
London — Google lost its final legal challenge on Tuesday against a European Union penalty for giving its own shopping recommendations an illegal advantage over rivals in search results, ending a…
more ...China’s Xi, Spain’s Sanchez seek to ease EU-China trade disputes
beijing — Chinese President Xi Jinping on Monday urged visiting Spanish Prime Minister Pedro Sanchez to play a “constructive role” in improving strained ties between Bejing and the European Union. Sanchez…
more ...Black creatives band together to navigate fashion industry barriers
A lack of opportunities has resulted in underrepresentation of Black designers, stylists and other creatives in the fashion industry. It’s also created a new wave of Black entrepreneurs who are…
more ...Google faces new antitrust trial after ruling declaring search engine a monopoly
ALEXANDRIA, Va. — One month after a judge declared Google’s search engine an illegal monopoly, the tech giant faces another antitrust lawsuit that threatens to break up the company, this time…
more ...Greece to tax cruise ships to protect popular islands from overtourism
Athens — Greece plans to impose a 20-euro ($22) levy on cruise ship visitors to the islands of Santorini and Mykonos during the peak summer season, in a bid to avert…
more ...As Volkswagen weighs its first closure of a German auto plant, workers aren’t the only ones worried
FRANKFURT, Germany — Volkswagen is considering closing some factories in its home country for the first time in the German automaker’s 87-year history, saying it otherwise won’t meet the cost-cutting goals…
more ...Drought forces Kenya’s Maasai, other cattle herders to consider fish, camels
KAJIADO, Kenya — The blood, milk and meat of cattle have long been staple foods for Maasai pastoralists in Kenya, perhaps the country’s most recognizable community. But climate change is forcing…
more ...China’s new pledges reflect concern over its competition in Africa
Johannesburg — After pledging $51 billion in financial support for Africa over the next three years and positioning China as a fellow developing country in contrast to the West’s colonialist past,…
more ...US IRS enforcement efforts recover $1.3 bln in unpaid taxes, Treasury says
Washington — The U.S. Treasury and Internal Revenue Service said on Friday that they have recovered $1.3 billion in unpaid taxes from wealthy individuals under new enforcement initiatives funded by $60…
more ...US trade deficit widens to two-year high on imports
WASHINGTON — The U.S. trade deficit widened to the highest level in more than two years in July as businesses likely front-loaded imports in anticipation of higher tariffs on goods, suggesting…
more ...UN: Workers see dramatic fall in share of global income
Geneva — Workers have seen their slice of the global income pie shrink significantly over the past two decades, swelling inequality and depriving the combined labor force of trillions, the U.N.…
more ...Nigeria struggles to supply gasoline to its consumers
Abuja, Nigeria — Barely 48 hours after Nigeria’s state-owned oil company made a startling revelation, hundreds of commuters joined a line stretching many kilometers for fuel at an NNPC outlet in…
more ...Portable pasteurizer keeps milk disease-free for Kenyan, Rwandan dairy farmers
Nairobi — Kenyan officials have long pushed for milk to be pasteurized before it reaches the marketplace, but much of the milk sold is not pasteurized because small-scale vendors and producers…
more ...Report: EU chief to hand economy job to Italy’s far-right
Berlin, Germany — EU chief Ursula von der Leyen has made her first picks for her top team, with the key economy vice-president job going to Italy’s far-right nominee, German newspaper…
more ...US Fed welcomes ‘soft landing’ even if many Americans don’t feel like cheering
Washington — When Jerome Powell delivered a high-profile speech last month, the Federal Reserve chair came the closest he ever had to declaring that the inflation surge that gripped the nation…
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