The International Monetary Fund said on Wednesday its executive board has recommended the removal of the age limit for its managing director, a move needed for European nominee Kristalina Georgieva to be approved for the job.
Business Category Archive
Argentina will not allow a chaotic fall in the peso and will use its dollar reserves to bolster the currency against political uncertainty that has swept the country since the Aug. 11 primary election, Treasury Minister Hernan Lacunza said on Wednesday.
Mexican tomato producers have reached a deal with the U.S. government to avoid an anti-dumping investigation, Mexican Economy Minister Graciela Marquez said on Wednesday, ending a testy tariff dispute that had rumbled on for months.
Asian shares fell on Wednesday as fresh worries about a global recession led investors to dump risky assets, with U.S. President Donald Trump showing no signs of backing down in his trade war with China.
Prices for Brent oil rose above $60 a barrel for the first time in over a week on Wednesday amid data that showed a larger-than-expected drawdown in U.S. crude inventories, but ongoing worries about a global economic recession capped gains.
Kiva, a San Francisco-based tech charity, is using blockchain to create an online ID database in Sierra Leone allowing people who struggle to get loans to prove their credit history.
U.S. President Donald Trump on Wednesday said he was “the chosen one” to address trade imbalances with China, even as congressional researchers warned that his tariffs would reduce U.S. economic output by 0.3% in 2020.
The dollar was on the defensive on Wednesday, elbowed off a three-week peak by a reversal in U.S. yields as they headed south again ahead of a meeting of central bankers, at which the Federal Reserve is expected to give clues on further rate cuts.
U.S. home sales rose more than expected in July, boosted by lower mortgage rates and a strong labor market, signs the Federal Reserve’s shift toward lower interest rates was adding support for the economy.
Mortgage rates are at a three-year low and housing price appreciation has cooled, but many Americans seeking to buy their first home are facing tough times.
The Federal Reserve debated cutting interest rates more aggressively at its last meeting, although central bankers were united in wanting to avoid the appearance of being on a path to more rate cuts, records from the meeting showed.
U.S. stock index futures rose on Wednesday as upbeat earnings reports from retailers Lowe’s and Target reflected robust consumer demand, helping ease some concerns around slowing economic growth.
Higher trade barriers, including President Donald Trump’s tariffs, are taking a toll on the U.S. economy as rising domestic prices reduce consumers’ purchasing power and increase the cost of business investment,
Investigators probing an engine explosion on an Air France A380 in 2017 are studying a possible manufacturing flaw with a key part in a move likely to trigger checks on dozens of Airbus superjumbos worldwide, people familiar with the matter said.
The International Monetary Fund on Wednesday warned against governments trying to weaken their currencies through monetary easing or market interventions, arguing in a blog post that this would hurt the functioning of the international monetary system and make all nations worse off.
The Citgo Petroleum board of directors appointed by Venezuela’s opposition congress chief was confirmed by a U.S. judge on Wednesday, ending a challenge by former directors loyal to Venezuelan President Nicolas Maduro.
U.S.-based Citigroup and French bank BNP Paribas are caught up in the U.S. criminal case against the chief financial officer of China’s Huawei Technologies, according to newly available documents.
French President Emmanuel Macron said on Wednesday U.S. tech giants paid unfairly low taxes, failing to contribute to the common good, and urged Washington to help reform the global corporate tax code.
Shares of Toll Brothers fell more than 6% on Wednesday after the U.S. luxury homebuilder reported a 36% collapse in orders in California, where other sector players have signaled waning demand from affluent Chinese buyers in light of President Donald Trump’s trade war.
Fitbit Inc will collaborate with the Singapore government on a health initiative that involves the use of its fitness trackers, the company said on Wednesday.
A strike by Ryanair’s Portuguese cabin crew started on Wednesday, with the low cost airline warning passengers that a small number of flights may be affected and the government ordering workers to deliver a minimum service to avoid chaos.
The United Arab Emirates said on Wednesday it would impose a 100% “selective” tax on electronic smoking products and a 50% tax on sweetened drinks starting from January 1, 2020, state news agency WAM reported.
Target Corp beat Wall Street estimates for quarterly same-store sales on Wednesday, as the big box retailer benefited from higher online sales and an increase in shoppers at its stores, sending shares up 5% in pre-market trading.
President Donald Trump on Wednesday said he is not looking at indexing capital gains taxes with the inflation rate, a move which could slash the taxes that investors must pay on their profits from asset sales.
Boeing Co said on Tuesday it plans to add extra staff and hire “a few hundred” additional temporary employees at a facility in Moses Lake, Washington, where it is storing 737 MAX jetliners, the fast-selling model grounded in the wake of deadly crashes.
Shopping center operator Hammerson Plc on Wednesday appointed AIG executive James Lenton as its new finance chief, months after saying Timon Drakesmith would step down from the role this year.
The U.S. Securities and Exchange Commission on Wednesday proposed new guidance that aims to clarify how investors and advisory firms that vote on their behalf should cast their votes in corporate elections on issues like pay and diversity.
Car industry shares drove a rebound in European stock markets on Wednesday, helped by an Italian newspaper report suggesting merger talks between Fiat Chrysler and Renault have gained some traction in recent weeks.
Lowe’s Cos Inc
Ryanair can still avoid a planned strike by British pilots this week if it agrees to a new framework for talks, the chief of UK pilot union BALPA said on Wednesday.
The Irish High Court on Wednesday granted Ryanair an injunction to prevent its Dublin-based pilots from going on strike later this week.
Two groups, including one backed by China’s Fosun <0656.HK>, have made competing offers to buy a 40% stake in London-listed NMC Health
U.S. President Donald Trump said on Wednesday his life would be easier if he had not mounted a trade war with China but said “I am the chosen one” to take on Beijing.
Israel and South Korea concluded three years of negotiations on a free trade agreement on Wednesday, hoping to build on a more than 15% jump in bilateral trade last year to $2.5 billion.
Preferred shares of Brazil state-controlled power utility Centrais Eletricas Brasileiras SA
Mozambique’s talks with the International Monetary Fund (IMF) are making “encouraging progress,” as the country seeks to restore access to international financing, President Filipe Nyusi said on Wednesday.
U.S. and Japanese officials in Tokyo agreed to increase daytime services between Tokyo’s Haneda Airport and U.S. destinations for two dozen new flights daily, the U.S. Transportation Department said on Wednesday.
The liquidity of Britain’s short-term power markets is likely to fall by 10-20% if the country leaves the European Union without a deal at the end of October, a senior executive at the EPEX SPOT power exchange told Reuters.
Osram will most likely waive an agreement that currently prevents AMS from making a takeover bid, paving the way for the Austrian group to enter the ring against finance investors Bain Capital and Carlyle Group , sources told Reuters.
U.S. President Donald Trump chastised automakers on Wednesday for not backing his administration’s plan to roll back Obama-era fuel efficiency rules.
Plains All American pipeline finds itself in a fight with two U.S. shale producers fighting the company’s proposed price increase meant to recover higher steel costs.
Liberty’s Luke Welty walks through a fracking site near Henderson, Colorado on Saturday, July 27, 2019. (Photo by Kelsey Brunner/The Denver Post)
Alphabet Inc’s Google and Firefox browser maker Mozilla took action on Wednesday to block the Kazakhstan government from creating an internet surveillance system using their respective browsers.
Labor representatives at Uniper
Healthcare giant Philips was warned of suspicious sales of its medical equipment to the Brazilian government, and failed to halt them, nearly a decade before an alleged bribery racket was exposed in the company’s Brazil operations last year, Reuters has learned.
Bank of America Corp
Chinese electric car maker BYD Co Ltd posted a 203.6% rise in first-half profit on Wednesday, as China’s new energy vehicle market continues to surge.
Britain posted a smaller-than-expected budget surplus in July as government expenditure rose, underlining budget constraints on new Prime Minister Boris Johnson as he promises to boost spending ahead of Brexit.