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…
more ...OECD Sees Lower World Growth Due to Ukraine War’s ‘Hefty Price’
The OECD warned Wednesday that the world economy will pay a “hefty price” for Russia’s invasion of Ukraine as it slashed its 2022 growth forecast and projected higher inflation. The…
more ...World Bank Warns of Global Economic Slowdown, More Inflation
The World Bank on Tuesday said the world is entering “a protracted period of feeble growth and elevated inflation,” as it cut global growth forecasts by 1.2% to 2.9% for…
more ...White House Confident Ahead of Americas Summit Despite Mexico Boycott
White House says summit of American states will make progress despite boycotts by Mexican president and others over refusal to invite Cuba, Nicaragua, Venezuela …
more ...On Broadway, More Visibility, But Also an Unseen Threat
At a lunch for Tony Award nominees last month, veteran theater producer Ron Simons looked around and smiled. It seemed appropriate that the gathering was held at The Rainbow Room. …
more ...Beirut to Invite US Envoy for Maritime Talks After Spat with Israel
Lebanon said on Monday it would invite a U.S. mediator to Beirut to continue negotiations over a disputed maritime boundary with Israel to prevent any escalation after accusing Israel of…
more ...Sources say Biden to Use Executive Action to Spur Solar Projects Hit by Probe
President Joe Biden will use executive action on Monday to help bridge a solar panel supply gap and kickstart stalled U.S. projects after an investigation froze imports from key foreign…
more ...Biden Faces Pressure About Rising Costs, Inflation
Job growth is strong, wages are up, but May inflation was 8.3%, down slightly from its decades-high of 8.5% reported in April …
more ...Commerce Secretary: US Mulls Lifting Some China Tariffs to Fight Inflation
U.S. Commerce Secretary Gina Raimondo said on Sunday that President Joe Biden has asked his team to look at the option of lifting some tariffs on China that were put…
more ...Biden Says US Job Numbers for May Reflect Strong Economic Foundation
U.S. President Joe Biden Friday used the May jobs report to promote his efforts to boost the economy and fight inflation by lowering the cost of goods and the federal…
more ...Biden Decides on Saudi Visit as OPEC+ Boosts Oil Production
President Joe Biden has decided to travel to Saudi Arabia in the coming weeks and is expected to meet with the kingdom’s crown prince, whom he once shunned for his…
more ...Musk Feels ‘Super Bad’ About Economy, Needs to Cut 10% of Tesla Jobs
Tesla CEO Elon Musk has a “super bad feeling” about the economy and needs to cut about 10% of jobs at the electric carmaker, he said in an email to…
more ...COVID Helps ‘Made in USA’ Goods Compete With Chinese Exports
As China’s COVID-containment lockdowns stall goods en route to price-conscious U.S. consumers, New Jersey manufacturer Mitch Cahn is finding traces of gold in the snapped links of the global supply…
more ...US Prepares to Block Most Imports Tied to China’s Xinjiang Province
The Chinese Foreign Ministry reacted angrily on Thursday to the announcement that, later this month, the Biden administration will begin enforcing a new law barring products made with forced labor…
more ...India Allows Small Amount of Wheat to Move Out After Ban, Big Stocks Still Stuck
India has allowed wheat shipments of 469,202 tons since banning most exports last month, but at least 1.7 million tons is lying at ports and could be damaged by looming…
more ...US Needs More Baby Formula Makers, Biden Tells Manufacturers
U.S. President Joe Biden met with major manufacturers of infant formula on Wednesday, and suggested their ranks should grow, as his administration presses ahead with efforts to boost imported supplies…
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