Turkey needs to put a comprehensive and credible economic plan in place if it is to avoid another cut to sovereign credit rating, a senior Moody’s sovereign analyst said on Thursday. New analysis from the rating agency shows Turkey’s recession, the slump in the lira, upcoming refinancing pressures and dwindling reserves have pushed it to …
Author: iBiz
Costs Mounting in US From Trump’s Tariff Fight With China
The costs seem to be mounting in the U.S. from President Donald Trump’s tit-for-tat trade tariff war with China, both for farmers whose sales of crops to China have been cut and U.S. consumers paying higher prices for imported Chinese products. The government said Wednesday that to date it has paid out more than $8.5 …
Costs Mounting in US From Trump’s Tariff Fight With China
The costs seem to be mounting in the U.S. from President Donald Trump’s tit-for-tat trade tariff war with China, both for farmers whose sales of crops to China have been cut and U.S. consumers paying higher prices for imported Chinese products. The government said Wednesday that to date it has paid out more than $8.5 …
Ford: More Lincolns to Be Built for Chinese Market Locally
Ford Motor Co plans to start production of new luxury Lincoln models in China for that market as they are launched, starting with the new Corsair later this year, to benefit from lower costs and avoid the risk of tariffs, a top executive said Monday. “It’s a huge, huge opportunity for Lincoln because we see …
Ford: More Lincolns to Be Built for Chinese Market Locally
Ford Motor Co plans to start production of new luxury Lincoln models in China for that market as they are launched, starting with the new Corsair later this year, to benefit from lower costs and avoid the risk of tariffs, a top executive said Monday. “It’s a huge, huge opportunity for Lincoln because we see …
Trade War Sowing Seeds of Doubt With US Farmers
The typical routines of life on a family farm carry a heavier burden these days for Pam Johnson. “First thing I do is make a pot of coffee,” she told VOA in an interview in one of the cavernous sheds that contain her green and yellow John Deere farming equipment. Once she has that coffee, …
Are Coastal Home Values Feeling Drag of Climate Change?
For sale: waterfront property with sweeping views of the Atlantic Ocean. Waves erode beach regularly. Flooding gets worse every year. Saltwater damage to lawn. Asking price: anyone’s guess. Some research suggests rising sea levels and flooding brought by global warming are harming coastal property values. But other climate scientists note shortcomings in the studies, and …
Stocks Rise, Claw Back Chunk of Monday’s Trade-War Plunge
Stocks climbed on Tuesday and clawed back a chunk of their losses from Monday’s rout, the latest whipsaw move as investors weigh just how badly the escalating U.S.-China trade war will hurt the economy. The day’s rally was nearly a mirror image of Monday’s plunge, when the S&P 500 had its worst day since early …
Stocks Rise, Claw Back Chunk of Monday’s Trade-War Plunge
Stocks climbed on Tuesday and clawed back a chunk of their losses from Monday’s rout, the latest whipsaw move as investors weigh just how badly the escalating U.S.-China trade war will hurt the economy. The day’s rally was nearly a mirror image of Monday’s plunge, when the S&P 500 had its worst day since early …
Uber Drivers Are Contractors, Not Employees, US Labor Agency Says
A U.S. labor agency has concluded that ride-hailing company Uber Technologies Inc’s drivers are independent contractors and not its employees, which could prevent them from joining unions. The National Labor Relations Board’s general counsel, in a memo released on Tuesday, said Uber drivers set their hours, own their cars and are free to work for …
Uber Drivers Are Contractors, Not Employees, US Labor Agency Says
A U.S. labor agency has concluded that ride-hailing company Uber Technologies Inc’s drivers are independent contractors and not its employees, which could prevent them from joining unions. The National Labor Relations Board’s general counsel, in a memo released on Tuesday, said Uber drivers set their hours, own their cars and are free to work for …
Truck Drivers Become Key EU Election Issue in Bulgaria
The future of Bulgaria’s vast number of low-wage truck drivers has become a top campaign issue in the country heading into European Parliament elections, with debates raging on how new EU rules could threaten the workers and deepen divisions between rich and poor nations in the bloc. The European Commission wants to put restrictions on …
Truck Drivers Become Key EU Election Issue in Bulgaria
The future of Bulgaria’s vast number of low-wage truck drivers has become a top campaign issue in the country heading into European Parliament elections, with debates raging on how new EU rules could threaten the workers and deepen divisions between rich and poor nations in the bloc. The European Commission wants to put restrictions on …
Trump: US ‘Can Make a Deal’ with China
Capitol Hill correspondent Michael Bowman and reporter Ira Mellman contributed to this report President Donald Trump said the United States “can make a deal with China tomorrow” to resolve the trade dispute between the world’s two largest economies, adding the accusation that China prevented the two sides from completing an agreement. In a series of …
Trump: US ‘Can Make a Deal’ with China
Capitol Hill correspondent Michael Bowman and reporter Ira Mellman contributed to this report President Donald Trump said the United States “can make a deal with China tomorrow” to resolve the trade dispute between the world’s two largest economies, adding the accusation that China prevented the two sides from completing an agreement. In a series of …
Trump Says US Tariffs on Chinese Goods ‘Fill US Coffers’
U.S. President Donald Trump on Monday said U.S. tariffs on China bring billions of dollars into U.S. coffers. He said China’s retaliatory tariffs can have no effect on the U.S. economy. The escalation of the U.S.-China trade war sent stock markets tumbling on Monday, with the Dow Jones Industrial Average falling more than 600 points. …
Trump Says US Tariffs on Chinese Goods ‘Fill US Coffers’
U.S. President Donald Trump on Monday said U.S. tariffs on China bring billions of dollars into U.S. coffers. He said China’s retaliatory tariffs can have no effect on the U.S. economy. The escalation of the U.S.-China trade war sent stock markets tumbling on Monday, with the Dow Jones Industrial Average falling more than 600 points. …
Supreme Court Allows Lawsuit Over iPhone Apps
The Supreme Court is allowing consumers to pursue an antitrust lawsuit that claims Apple has unfairly monopolized the market for the sale of iPhone apps. New Justice Brett Kavanaugh is joining the court’s four liberals Monday in rejecting a plea from Cupertino, California-based Apple to end the lawsuit over the 30 percent commission the company …
Supreme Court Allows Lawsuit Over iPhone Apps
The Supreme Court is allowing consumers to pursue an antitrust lawsuit that claims Apple has unfairly monopolized the market for the sale of iPhone apps. New Justice Brett Kavanaugh is joining the court’s four liberals Monday in rejecting a plea from Cupertino, California-based Apple to end the lawsuit over the 30 percent commission the company …
China Imposes Tariffs on $60 Billion in US Exports
China said Monday it would impose tariffs on $60 billion worth of imports from the United States, retaliating after President Donald Trump boosted taxes on $200 billion worth of Chinese goods sent to the U.S. and moved to impose duties on another $300 billion of Chinese exports. The Chinese finance ministry said its new 5% …
China Imposes Tariffs on $60 Billion in US Exports
China said Monday it would impose tariffs on $60 billion worth of imports from the United States, retaliating after President Donald Trump boosted taxes on $200 billion worth of Chinese goods sent to the U.S. and moved to impose duties on another $300 billion of Chinese exports. The Chinese finance ministry said its new 5% …
Honda Confirms Closure of UK Car Plant
Honda has confirmed its western England car factory, which employs 3,500 people, will close in 2021. The Japanese carmaker announced Monday that the Swindon plant will shut in two years, “at the end of the current model’s production life cycle.” Honda makes its popular Civic model at the factory, 70 miles (115 kms) west …