Author: Fbiz

Climate change, trade and terrorism were highlighted Monday at a Beijing meeting of foreign affairs officials from Brazil, Russia, India, China and South Africa, known collectively as the BRICS nations. The five nations are seeking to further align their views on key issues at a time when President Donald Trump is withdrawing the U.S. from …

Colombia on Friday reached a deal with public school teachers to end a 37-day strike that has kept millions of children out of classes, amid criticism the government has failed to keep its promise to improve public education after a peace deal with Marxist rebels. Union members participating in the nationwide walkout held near-daily marches, …

McDonald’s Corp ended its 41-year-old sponsorship of the Olympic Games three years early, the International Olympic Committee said Friday, reflecting the U.S. fast-food giant’s focus on its core business as well as rising Olympics sponsorship costs and declining TV ratings. McDonald’s deal would have run through the Tokyo Olympics in 2020, and bowing out will …

President Donald Trump’s Washington hotel saw almost $20 million in revenue during its first few months of operation, a period that coincided with his election and inauguration as the 45th president. His Mar-a-Lago resort in Florida, which he’s visited seven times as president, pulled in millions of dollars more than it had previously.   The …

From the president of Mozambique to the US Secretary of Commerce, greater US economic engagement in Africa is the dominant theme at this year’s business summit organized by the Corporate Council on Africa. VOA Correspondent Mariama Diallo was there and reports. …

U.S. authorities moved on Thursday to seize a Picasso painting given to American movie star Leonardo DiCaprio and the rights to two Hollywood comedies, as they filed complaints to recover about $540 million they say was stolen from the 1Malaysia Development Berhad sovereign wealth fund. The U.S. Justice Department filing was the latest legal action …

The White House lacks a unified plan to increase the government’s borrowing cap as a likely September deadline is drawing near, said Mick Mulvaney, director of the Office of Management and Budget. A failure by Congress to raise the debt ceiling could send dangerous shock waves through the global economy. The federal government could be …

New data show the U.S. job market becoming a bit stronger, while credit card costs are increasing for American consumers. Thursday’s report from the Labor Department says the number of newly-laid off workers signing up for assistance fell 8,000 last week to a nationwide total of 237,000. Experts say any level below 300,000 indicates strong …

A new report by the International Labor Organization (ILO) says getting more women into the world labor market would add trillions of dollars to the global economy and boost tax revenues.  According to the report, the ILO World Employment and Social Outlook: Trends for Women 2017, just more than 49 percent of women globally are …

The sanctions imposed by Saudi Arabia and other Arab states on Qatar have been a blessing for Mohammed Kuwari and his al-Rawa brand of yoghurt. With competing Saudi products off the shelves, his business is booming. “Our sales doubled! There’s lots of production as you can see and we have a big share in the …

Wind and solar accounted for more than 10 percent of U.S. electricity generation for the first time in March, the Energy Department’s Energy Information Administration said on Wednesday. Wind and solar power capacity has been growing in the United States, accounting for an average of up to 7 percent of electricity in 2016. Texas, a …

Panama’s business community on Tuesday cheered the Central American country’s decision to establish full diplomatic ties with China and ditch Taiwan, hoping to deepen links with a key customer of the nation’s shipping canal. Although there was regret at the cost to Taiwan, an ally of various Central American nations, there was broad support for …

Mexico’s ancient civilizations cultivated crops such as maize, tomatoes and chilies for thousands of years before the Spanish conquerors arrived — and now those native plants could hold the key to sustainable food production as climate change bites, said a leading ecologist. José Sarukhán Kermez, who helped set up Mexico’s pioneering National Commission for the …

With a record-breaking 26.5 million people going hungry in the Horn of Africa, development banks are increasing their humanitarian funding to fill a gap left by traditional donors, a high-level mission said on Tuesday. Food rations for 7.8 million Ethiopians are due to run out in July due to funding shortages, while neighboring Somalia is …

The Trump administration is proposing to curb the authority of the consumer finance watchdog created following the economic crisis as it drives toward easing restrictions on banks and financial institutions. The Treasury Department issued Monday the first part of a review that was ordered by President Donald Trump in one of his earliest acts as …

Britain’s descent into political crisis just days before Brexit talks begin has sapped confidence among business leaders and infuriated bosses who were already grappling with the fallout from the vote to leave the EU. The failure by Prime Minister Theresa May to win a parliamentary majority in last week’s election has pushed the world’s fifth …

The Trump administration has a backup plan to keep the government from defaulting on its financial obligations even if Congress misses an August deadline to raise the debt limit, Treasury Secretary Steven Mnuchin told a congressional panel Monday. Mnuchin had previously set an August deadline for the federal government to avoid a catastrophic default. Mnuchin …

The International Labor Organization (ILO) reports children caught in conflict and natural disasters are most at risk of child labor and of falling prey to trafficking, sexual exploitation and abuse. To mark the World Day Against Child Labor, the ILO is calling on governments to eliminate the worst forms of child labor. The world is …

General Electric says Jeff Immelt is stepping down as CEO and John Flannery, president and CEO of the conglomerate’s health care unit, will take over the post in August.   The 61-year-old Immelt will stay on as chairman until his retirement from the position at the end of the year, with the 55-year-old Flannery stepping …

They were no common protests. As angry farmers dumped milk and vegetables on the streets in India’s western Maharashtra state and six farmers were killed by police in Madhya Pradesh state when they blocked roads and burnt vehicles, the spotlight has turned on growing rural distress in the country. The protests flared unexpectedly when bumper …

The New York Times and other media are reporting that Uber’s board is considering placing the CEO of the ride-hailing company on leave.   The Times says three people with knowledge of the matter have confirmed that the board is meeting Sunday to consider recommendations from a law firm hired to review its corporate culture. …

U.S. Commerce Secretary Wilbur Ross is likely to impose a new sugar trade deal with Mexico even if final revisions to it fail to win support from the U.S. industry, trade lawyers and experts say. After announcing a deal this week that would dramatically cut the amount of refined sugar that Mexico ships to the …

French cosmetics and luxury goods group L’Oreal has started exclusive talks to sell The Body Shop business to Brazilian makeup company Natura Cosmeticos in a possible 1 billion euros ($1.1 billion) deal. Earlier this year, L’Oreal had announced it was reviewing its strategy for The Body Shop, which it bought for 652 million pounds in …

Thanks to an explosion of bike share apps and providers, China is rediscovering its love of bicycles. In cities across the country and in the capital of Beijing, a colorful bike-share revolution is taking over on the streets, helping ease traffic snarls and keeping the air cleaner. It is also creating some problems. China used …

Ivanka Trump’s fashion brand sought to distance itself from a Chinese manufacturer that has come under scrutiny after activists investigating labor conditions there were detained, saying the company last made its products three months ago. In a statement released Wednesday, the brand’s president, Abigail Klem, said Ivanka Trump shoes, which are made by licensing partner …

Days before the first supertanker carrying 140,000 tons of Chinese-bound crude oil arrived in Myanmar’s Kyauk Pyu port, local officials confiscated Nyein Aye’s fishing nets. The 36-year-old fisherman was among hundreds banned from fishing a stretch of water near the entry point for a pipeline that pumps oil 770 kilometers (480 miles) across Myanmar to …