Author: iBiz

A U.S. State Department official has called for an end to Kosovo’s taxes on Serbian goods so that European Union-mediated talks on resolving the dispute between the former war foes could resume. Deputy Assistant Secretary of State Matthew Palmer said Monday full normalization of relations between Serbia and its former province is “essential” for the …

Officials in Charlottesville, Virginia, have voted to divest the city’s operating budget investments from any entity involved in the production of fossil fuels or weapons.   WVIR-TV reports the City Council voted 4-1 last week to complete those divestments within the next 30 days.   Supporters of divestment argued that weapons and fossil fuels do …

Former Foreign Secretary Boris Johnson is stepping up his campaign to be Britain’s next prime minister by challenging the European Union over Brexit terms. Johnson told the Sunday Times he would refuse to pay the agreed-upon 39 billion-pound ($50 billion) divorce settlement unless the EU offers Britain a better withdrawal agreement than the one currently …

The giant e-commerce technology company, Amazon, has announced that it expects to start delivering orders to shoppers’ homes by drones in the coming months. The details are still in the works, but the innovation could change the way we get packages. VOA’s Kevin Enochs reports. …

Rising trade tensions between the U.S. and China have sparked worries about the 17 exotic-sounding rare earth minerals needed for high-tech products like robotics, drones and electric cars.    China recently raised tariffs to 25% on rare earth exports to the U.S. and has threatened to halt exports altogether after the Trump administration raised tariffs …

One down, still others to go. President Donald Trump claimed a victory after Washington and Mexico agreed on measures to stem the flow of Central American migrants into the United States. Trump called off plans to impose a 5% tax on Mexican exports, and Treasury Secretary Steven Mnuchin, speaking to reporters Saturday in Fukuoka on …

Financial leaders of the Group of 20 gathered Saturday to brainstorm ways to adapt global finance to an age of trade turmoil and digital disruptions. The central bank governors and other financial regulators meeting in this southern Japanese port city also flagged risks from upsets to the global economy as Beijing and Washington clash over …

U.S. Treasury Secretary Steven Mnuchin said Saturday that he plans to speak privately with China’s central bank governor about trade on the sidelines of annual Group of 20 finance talks in southern Japan, but has no direct message to give him. Mnuchin and Yi Gang, chairman of the People’s Bank of China, are to hold …

In May, Arkansas became the latest state to cash in on the sale of medical marijuana. Lines of people wrapped around a newly opened dispensary, drawing in customers from all four corners of the Southern U.S. state. “I see them standing outside the window with a big smile on their face,” said Bud Watkins, manager …

Cindy Saine at the State Department contributed to this report.    U.S. President Donald Trump said late Friday that the United States and Mexico had reached a deal on migration to avert tariffs. “I am pleased to inform you that The United States of America has reached a signed agreement with Mexico. The Tariffs scheduled …

FedEx Corp. Friday decided not to renew its contract with Amazon.com Inc. for U.S. cargo delivery through FedEx Express, the unit that delivers packages on planes, a move that reflects the broader trend of the e-commerce company moving services in-house. Amazon has been building out its own delivery network of planes, trucks and vans, a …

Two key U.S. legislators want answers from Boeing and federal regulators about why the company waited more than a year to disclose that a safety alert in its 737 Max plane wasn’t working properly.    U.S. Reps. Peter DeFazio of Oregon and Rick Larsen of Washington sent letters to Boeing and the Federal Aviation Administration seeking details …

Finance ministers and central bank governors meeting in Japan this weekend will try to make headway on long-standing issues such as how much global giants like Facebook and Amazon should pay in taxes.    They’re likely to end up focusing a large share of their attention on how to keep global growth on track when …

U.S. job growth slowed sharply in May and wages rose less than expected, suggesting the loss of momentum in economic activity was spreading to the labor market, which could increase calls for the Federal Reserve to cut interest rates this year. The cool-off in hiring reported by the Labor Department on Friday was even before …

Russian President Vladimir Putin has criticized the United States for using pressure and sanctions to maintain its economic supremacy. Speaking Friday at an investment forum in St. Petersburg, Putin said the U.S. attempt to “spread its jurisdiction to the entire world” challenges the global order. He said globalization “becomes a parody of itself when common …

Italian-U.S. carmaker Fiat Chrysler on Thursday pulled the plug on its proposed merger with Renault, saying negotiations had become “unreasonable” because of  political resistance in Paris.     Fiat Chrysler Automobiles, or FCA, had stunned the markets last week with a proposed “merger of equals” with the French group that would — together with Renault’s Japanese …

The U.S. economy could be weakened by escalating trade wars or a sudden downturn in global financial markets, the International Monetary Fund (IMF) warns. In an annual review of the U.S. economy, the IMF said it was on a 2.6 percent growth track this year, greater than the 2.3 percent growth rate forecast in April. …

A rising share of older Americans is forgoing the concept of a traditional retirement at the age of 65, a trend that some younger workers aren’t particularly thrilled to see. A recent poll by The Associated Press-NORC Center for Public Affairs Research found that workers under the age of 50 were significantly more likely to …

U.S. productivity grew at a strong 3.4% rate in the January-March quarter, the best showing in more than four years, the Labor Department reported Thursday. It was an encouraging sign that productivity may finally be improving after a long stretch of weakness.   The first quarter gain was more than double the 1.3% increase in …

In a double blow for Mexico, credit ratings agency Fitch downgraded the nation’s sovereign debt rating on Wednesday, citing risks posed by heavily indebted oil company Pemex and trade tensions, while Moody’s lowered its outlook to negative. The Mexican peso weakened as much as 1.3% on the news. Cutting Mexico’s rating to BBB, nearing junk …

U.S. refiners warned the Trump administration that tariffs on imports from Mexico could deliver a punishing blow to refiners and raise the cost of gasoline just as the U.S. driving season kicks into high gear, according to sources familiar with the discussions. Trump surprised Mexico last week with a threat to impose 5% tariffs on …

The trade war between the United States and China could cut world economic growth next year, the International Monetary Fund (IMF) warned Wednesday. IMF Managing Director Christine Lagarde said U.S. President Donald Trump’s threat to tax all trade between the two countries would shrink the global Gross Domestic Product (GDP) by one-half of one percent. …