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…
more ...Wall Street Week Ahead — US stock rally broadens as investors await Fed
New York — A broadening rally in U.S. stocks is offering an encouraging signal to investors worried about concentration in technology shares, as markets await key jobs data and the Federal…
more ...Wall St Week Ahead — US stock rally broadens as investors await Fed
New York — A broadening rally in U.S. stocks is offering an encouraging signal to investors worried about concentration in technology shares, as markets await key jobs data and the Federal…
more ...Algeria joins BRICS New Development Bank
Algiers — Algeria has been approved for membership in the BRICS New Development Bank (NDB), the country’s finance ministry has announced. The decision was taken on Saturday and announced by NDB…
more ...High rents are forcing small businesses into tough choices
NEW YORK — While many costs have come down for small businesses, rents remain high and in some cases are still rising, forcing many owners into some uncomfortable decisions. “Every time…
more ...High rents are forcing small businesses in into tough choices
NEW YORK — While many costs have come down for small businesses, rents remain high and in some cases are still rising, forcing many owners into some uncomfortable decisions. “Every time…
more ...Lowest euro zone inflation in 3 years sets up ECB for cut
FRANKFURT/TALLINN — Inflation in the euro zone fell to its lowest level in three years in August, setting the stage for a further cut in the European Central Bank’s interest rates…
more ...US second quarter growth stronger than estimated, government says
Washington — The U.S. economy expanded more than initially estimated in the second quarter this year, the Department of Commerce said Thursday, on stronger consumer spending than originally anticipated. The world’s…
more ...US clean energy jobs growth rate double that of overall jobs, report says
Washington — Jobs in the U.S. clean energy industry in 2023 grew at more than double the rate of the country’s overall jobs, and unionization in clean energy surpassed for the…
more ...Wall Street Week Ahead — ‘Super Bowl’ Nvidia earnings stand to test searing AI trade
New York — The rally in U.S. stocks faces an important test […] with earnings from chipmaking giant Nvidia NVDA.O, whose blistering run has powered markets throughout 2024. The S&P…
more ...Fed’s actions spoke louder than words in inflation fight, research shows
JACKSON HOLE, Wyoming — The Federal Reserve’s credibility in the eyes of financial markets helped in its battle against inflation over the past two years, but it had to be earned…
more ...Canadian rail arbitration hearing ends without decision; strike looms
TORONTO — A workers’ union Friday threatened a strike at one of Canada’s two major freight railroads, only hours after the company’s trains restarted following a potentially devastating stoppage. A government-ordered…
more ...Indonesia destroys $1.3M of illegal imports, cracks down on underground economy
Jakarta, Indonesia — Cellphones, electric pots and pans, and car washing machines were among goods worth $1.3 million destroyed Monday by the Indonesian Trade Ministry in West Java. Alcoholic drinks with…
more ...Fed Chief: ‘The time has come’ to begin reducing interest rates
JACKSON HOLE, Wyoming — With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high, Chair…
more ...New EU deforestation regulations a challenge for Namibian farmers
Windhoek, Namibia — Namibia’s minister of agriculture has urged farmers in the Southern African country to look at alternative markets for its charcoal and beef products since the European Union, one…
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