Sales of personal luxury goods are set to fall 2% this year, making it one of the weakest on record, with price hikes and economic uncertainty shrinking the industry’s customer…
more ...Germany’s Scholz summons top ministers over rival plans to fix economy
Berlin — German Chancellor Olaf Scholz will hold meetings with his top two ministers to try to find common ground after they put forward contradictory plans to fix the nation’s ailing…
more ...US employers add 12,000 jobs last month as hurricanes, strikes reduce payrolls
WASHINGTON — America’s employers added 12,000 jobs in October, a total that economists say was held down by the effects of strikes and hurricanes that left many workers temporarily off payrolls.…
more ...US economy grew at a solid 2.8% pace last quarter on strength of consumer spending
Washington — The U.S. economy grew at a healthy 2.8% annual rate from July through September, with consumers helping drive growth despite the weight of still-high interest rates. Wednesday’s report from…
more ...Beijing files WTO complaint over EU’s new taxes on Chinese EVs
Beijing — Beijing said Wednesday it had lodged a complaint with the World Trade Organization over the European Union’s decision to impose hefty tariffs on Chinese-made electric cars. The extra taxes…
more ...US farmers weigh tariffs, farm bill as Election Day nears
U.S. farmers are facing economic headwinds as they head to the polls this election year. VOA’s Kane Farabaugh has more from Illinois …
more ...Saudi energy minister commits to crude capacity levels and climate targets
RIYADH — Saudi Arabia is “committed” to maintaining crude capacity at 12.3 million barrels per day, Energy Minister Prince Abulaziz bin Salman said on Tuesday. Speaking at the Future Investment Initiative…
more ...Bioeconomy offers path to mitigating climate change, enhancing food production
Nairobi — Bioeconomy is the production, use, and conservation of biological resources to produce goods that sustain communities. A new report says the promotion of bioeconomy as a way to deal…
more ...In suburban Miami, Kmart’s last ‘Blue Light Specials’ flicker
MIAMI, FLORIDA — The last Kmart on the U.S. mainland sits at the west end of a busy suburban Miami shopping center, quiet and largely ignored. All around it are thriving…
more ...IMF raises concerns about effects of Sudan conflict on neighbors
WASHINGTON — The war in Sudan is likely to cause heavy economic damage in neighboring countries, the IMF’s deputy director for Africa, Catherine Pattillo, told AFP. “What is going on there…
more ...Union’s rejection of Boeing offer threatens jobs at aerospace suppliers
Striking workers’ rejection of planemaker Boeing’s BA.N latest contract offer has created a fresh threat to operations at aerospace suppliers such as family-run Independent Forge. If the strike by…
more ...Iran’s aviation woes compounded by latest EU sanctions
Iranian photographer Tannaz was on her way to Tehran’s airport when European sanctions on flag carrier Iran Air forced her to return home, unable to make it to work in…
more ...Boeing reports $6 billion quarterly loss ahead of vote by union workers who have crippled production
EVERETT, Wash. — Boeing reported a loss of more than $6 billion in the third quarter and immediately turned its attention to union workers who will vote Wednesday whether to accept…
more ...Ethiopia begins selling stakes in state-owned company
Ethiopia’s state-owned telecommunications company has started selling shares to the public, in a move aimed at establishing a new national stock market and giving Ethiopians a stake in the company,…
more ...IMF’s economic view: A brighter outlook for US but still-tepid global growth
Washington — The International Monetary Fund on Tuesday upgraded its economic outlook for the United States this year, while lowering its expectations for growth in Europe and China. It left its…
more ...Lower-priced new cars are gaining popularity, and not just for cash-poor buyers
Detroit — Had she wanted to, Michelle Chumley could have afforded a pricey new SUV loaded with options. But when it came time to replace her Chevrolet Blazer SUV, for which…
more ...Should minimum wage be lower for workers who get tipped? Two states are set to decide
Mel Nichols, a 37-year-old bartender in Phoenix, Arizona, takes home anywhere from $30 to $50 an hour with tips included. But the uncertainty of how much she’s going to make…
more ...Broke Argentine province counters austerity cuts with new currency
LA RIOJA, Argentina — They look like cash, fit into wallets like cash and the governor promises they’ll be treated like cash. But these brightly colored banknotes aren’t pesos, the depreciating…
more ...Southeast Asia bears brunt of US trade curbs on Uyghur forced labor
BANGKOK — Southeast Asia is bearing the mounting brunt of U.S. trade curbs aimed at stemming the forced labor of ethnic minority Uyghurs in China, with billions of dollars in blocked…
more ...African port growth hindered by poor road, rail networks, report says
NAIROBI, KENYA — Africa has seen the capacity of its ports grow significantly over the years, but a report from the Africa Finance Corporation says the expansions, upgrades and investments have…
more ...European Central Bank cuts main interest rate a quarter-point to 3.25% as inflation fades
The European Central Bank, which sets interest rates for the 20 countries that use the euro currency, cut borrowing costs once again on Thursday after figures showed inflation across the…
more ...Germany outlines measures to strengthen domestic wind industry
Germany plans to introduce measures aimed at boosting its domestic wind industry, the economy ministry said on Thursday, amid concerns from European governments and companies over Chinese firms gaining momentum…
more ...Gaza unemployment surges to 80% as economy collapses, UN agency says
ZURICH — Unemployment in Gaza has soared to nearly 80% since the Israel-Hamas war erupted, with the devastated enclave’s economy in almost total collapse, the International Labour Organization said Thursday. Economic…
more ...World Bank cuts 2024 growth forecast for sub-Saharan Africa over Sudan
Nairobi — The World Bank said on Monday it had lowered its economic growth forecast for sub-Saharan Africa this year to 3% from 3.4%, mainly due to the destruction of Sudan’s…
more ...Historic Jersey Shore amusement park closes after generations of family thrills
OCEAN CITY, N.J. — For generations of vacationers heading to Ocean City, the towering “Giant Wheel” was the first thing they saw from miles away. The sight of the 140-foot-tall (42-meter)…
more ...Chinese carmaker GAC considers making EVs in Europe as tariffs loom
Paris — Chinese state-owned carmaker GAC is exploring the manufacture of EVs in Europe to avoid EU tariffs, the general manager of its international business told Reuters on Sunday, joining a…
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