Author: Fbiz

European Central Bank head Mario Draghi signaled the bank could trim back its stimulus efforts if the economy keeps strengthening, but said that any such move would be gradual and cautious.   Draghi’s said in a speech Tuesday at an ECB conference in Sintra, Portugal, that “a considerable degree” of stimulus support was still needed …

Jury selection began Monday in the trial of a Chinese billionaire accused of bribing United Nations diplomats to gain their approval of a U.N. conference center he wanted to build. Ng Lap Seng has pleaded not guilty. He has posted $50 million bail, but is restricted to a luxury New York City apartment that he …

Thirteen EU nations voiced support on Monday for a proposal to empower the bloc’s executive to negotiate with Russia over objections to a new Russian gas pipeline to Germany, despite opposition from Berlin. At an informal debate among EU energy ministers, Germany’s partners in the 28-nation bloc spoke out against Russia’s Nord Stream 2 pipeline …

More than half of Cuba’s arable land remains fallow nearly a decade after a government pledge to cultivate it, and food production is sluggish, according to a government report. Cuba has yet to publish an overall figure for last year’s agricultural output. But the report released over the weekend by the National Statistics Office indicated …

Embattled Japanese auto parts manufacturer Takata said Monday it has filed for bankruptcy protection. Takata also announced that rival Key Safety Systems is purchasing Takata for $1.5 billion.  Takata has been overwhelmed with the costs of lawsuits and recalls related to defective airbags linked to the deaths of 16 people and scores of injuries worldwide. …

The global economy has picked up and prospects for the next few months are the best in a long time.   But the recovery is maturing and faces risks from populist rejection of free trade and from high debt that could burden consumers and companies as interest rates rise.   Those were key takeaways from …

A second U-turn this year by Ford Motor Co. in Mexico has raised the specter of Chinese competition for local carmaking, adding to pressure on the industry after repeated threats by U.S. President Donald Trump to saddle it with punitive tariffs. Ford announced on Tuesday it would move some production of its Focus small car …

After starting work in a hotel kitchen, Zhai Meiqin began selling furniture and built a billion-dollar conglomerate, but she took great pride in being recognized this week for driving a new phenomenon in China: philanthropy. Zhai, one of China’s richest women and president of the privately owned HeungKong Group Ltd., said she never forgot her …

Cambodian activists fighting plans to transform Phnom Penh’s largest lake into a luxury development made a tactical decision when they took to the streets: put women on the frontline to show a “gentle” face and prevent violence. But it was wishful thinking. The women of Boeung Kak Lake, once home to a thriving community, have …

Soaring temperatures and a lack of rainfall across Italy have cost farmers 1 billion euros ($1.12 billion) so far this year, the national agricultural association said on Friday. The government declared a state of emergency in the gastronomic heartland around the northern cities of Parma and Piacenza, a usually lush valley that produces tomatoes, cheese, …

China is probing the loan practices of a group of big private sector conglomerates who have been on a high-profile global spending spree over the past few years. And although the review targets only a few of the country’s most politically-connected companies, some analysts see an attempt to increase government control over the role played …

China let through the first shipments of beef from the United States in 14 years on Friday, after the two nations agreed to resume the trade in May, state media reported. The imports were brought in by Cofco Meat Holdings Ltd from U.S. meat processor Tyson Foods Inc., China National Radio (CNR) reported on Friday, …

Demeaning images in advertising of women doing domestic chores or scantily clad act as stubborn obstacles to gender equality, the head of U.N. Women said Thursday, urging the global ad industry to become a weapon for good. Advertising has the power to create positive portrayals of women and eliminate stereotypes, Phumzile Mlambo-Ngcuka, executive director of …

Minnesota’s government and businesses will continue to engage with Cuba in the areas they can, like agricultural trade, despite U.S. President Donald Trump’s partial rollback of the detente, Lieutenant Governor Tina Smith said on Thursday. The first U.S. state representative to make an official visit to Communist-run Cuba since Trump’s announcement on Friday, Smith said …

JetSmart, a low-cost airline set to launch this year in Chile, said on Thursday it will offer one-way tickets for less than $2, as the nation’s passenger air market becomes increasingly competitive. “We will have 30,000 tickets for 1,000 pesos ($1.50) per one-way trip plus taxes, to fly within Chile … in 2017,” JetSmart, owned …

European Union leaders open a two-day summit in Brussels Thursday to address everything from Britain’s planned exit from the regional economic bloc to the resurging economy. British Prime Minister Theresa May’s remarks at the two-day meeting are expected to include reassurances about the futures of the three million citizens of other EU countries currently living …

Every 45 seconds or so, a neatly wrapped VanHeusen dress shirt destined for a J.C. Penney store in the United States drops off a new production line at a factory north of Vietnam’s capital. Next door, rice paddies the size of 40 football fields have been filled for the $320 million textile mill which Hong …

Military conflicts and growing threats around the world continue to underpin demand for weapons, but industry and government leaders from the United States, Europe, Russia and the Middle East say they don’t see a huge near-term spike in arms orders. Executives report being busier than ever at this year’s Paris Airshow, the oldest and biggest …

Although Afghan businesses have long wanted to exploit the potential of India’s huge market, trade between the two countries has been hampered due to their tense relations with Pakistan. But a plane loaded in Kabul with 60 tons of medicinal plants landed in New Delhi this week, raising hopes of giving a major boost to …

Travis Kalanick, the combative and troubled CEO of ride-hailing giant Uber, resigned Tuesday under pressure from investors. The company’s board confirmed the move early Tuesday, saying in a statement that Kalanick is taking time to heal from the death of his mother in a boating accident -while giving the company room to fully embrace this …

The United States Treasury Department announced additional sanctions Tuesday against Russia, pro-Russian separatists in eastern Ukraine, and individuals and companies associated with them. The move comes on the heels of a White House meeting Tuesday between President Donald Trump and Ukrainian President Petro Poroshenko. The increased sanctions is in response to continued Russian support for …

Chinese stocks will be included for the first time in a leading U.S. index of emerging market shares. The New York-based index giant MSCI said Tuesday that it would add 222 Chinese A shares beginning next year. “International investors have embraced the positive changes in the accessibility of the China A shares market over the …

Countries that make up the Association of Southeast Asian Nations will be a wellspring of opportunity for the United States because of growth in the region’s digital economy and its young population, researchers say. Those combined forces will “create a much more dynamic [economy] … over the coming decades,” said Satu Limaye, head of the …

As South Korea’s new leadership works toward easing long strained inter-Korean relations, U.S. experts are eyeing the country’s conciliatory overtures to the Kim Jong Un regime, worried that a possible resumption of the Kaesong Industrial Complex could provoke discord with the Trump administration. Shortly after South Korean President Moon Jae-in named Cho Myoung-gyun to be …

The U.S. Supreme Court on Monday handed a victory to Chevron Corp. by preventing Ecuadorean villagers and their American lawyer from trying to collect on an $8.65 billion pollution judgment issued against the oil company by a court in Ecuador. The justices turned away an appeal by New York-based lawyer Steven Donziger, who has spent …

The U.S. Supreme Court on Monday tightened rules on where injury lawsuits may be filed, handing a victory to corporations by undercutting the ability of plaintiffs to bring claims in friendly courts in a case involving litigation over the Bristol-Myers Squibb Co. blood-thinning medication Plavix. The justices, in an 8-1 ruling, threw out a lower …