Author: Fbiz

Federally Insured Banks Largely Off-Limits to Cannabis Business

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 …

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Two Execs Out as Uber Stock Sputters

Uber is parting ways with two of its top executives less than a month after the company’s rocky stock market debut. CEO Dara Khosrowshahi told employees in an email Friday that he plans to be more involved in day-to-day operations now that the initial public offering of stock has passed. He said the heads of …

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Fiat Chrysler Drops Renault Merger Idea

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 …

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Fiat Chrysler Drops Renault Merger Idea

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 …

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IMF: US Trade Wars Are Risk to America’s Economy

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. …

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IMF: US Trade Wars Are Risk to America’s Economy

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. …

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Vietnam Businesses Push for Green Economy

Liz Hung supports a lot of the imaginative concepts being discussed to make Vietnam “greener” economically and in terms of urban planning.   Consider traffic lights. Hung described how government authorities could collect smartphone data to see which streets are crowded, and then calibrate the stoplights to optimize traffic flow.   Hung and others in …

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Vietnam Businesses Push for Green Economy

Liz Hung supports a lot of the imaginative concepts being discussed to make Vietnam “greener” economically and in terms of urban planning.   Consider traffic lights. Hung described how government authorities could collect smartphone data to see which streets are crowded, and then calibrate the stoplights to optimize traffic flow.   Hung and others in …

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In Double Whammy, Fitch Downgrades Mexico and Moody’s Lowers Outlook

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 …

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In Double Whammy, Fitch Downgrades Mexico and Moody’s Lowers Outlook

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 …

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US Refiners to Trump: Tariffs on Mexico Could Raise Gas Prices

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 …

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US Refiners to Trump: Tariffs on Mexico Could Raise Gas Prices

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 …

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Trump’s Cruise Ban Hits Cuba’s Private-Sector Workers

Lazaro Hernandez, who has made a good living showing U.S. cruise ship passengers around Havana in his pink 1950s Chevrolet, says the new U.S. ban on cruises to Cuba will wipe out 90% of his business overnight. Hernandez is one of thousands of Cubans who benefited from the boom in American visitors to the Caribbean’s …

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Trump’s Cruise Ban Hits Cuba’s Private-Sector Workers

Lazaro Hernandez, who has made a good living showing U.S. cruise ship passengers around Havana in his pink 1950s Chevrolet, says the new U.S. ban on cruises to Cuba will wipe out 90% of his business overnight. Hernandez is one of thousands of Cubans who benefited from the boom in American visitors to the Caribbean’s …

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IMF Warns US-China Trade War Could Cut Global Economic Growth

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. …

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IMF Warns US-China Trade War Could Cut Global Economic Growth

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. …

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Experts: US-China Trade Tensions Could Impact Pyongyang Sanctions Support

Christy Lee of VOA’s Korean Service contributed to this report. The escalating trade dispute between the United States and China could distract Beijing from dealing with nuclear North Korea and undermine its efforts to enforce international sanctions, potentially hampering the U.S. attempt to denuclearize the country, experts said. Even as the Trump administration pursues its …

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Experts: US-China Trade Tensions Could Impact Pyongyang Sanctions Support

Christy Lee of VOA’s Korean Service contributed to this report. The escalating trade dispute between the United States and China could distract Beijing from dealing with nuclear North Korea and undermine its efforts to enforce international sanctions, potentially hampering the U.S. attempt to denuclearize the country, experts said. Even as the Trump administration pursues its …

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How Vietnam Will Avoid Currency ‘Manipulator’ Label, Save its Economy

Vietnam is likely to make concessions to the United States so it can escape a U.S. watch list of possible currency manipulators and head off a hit to its fast-growing economy led by exchange rate-sensitive exports, analysts who follow the country say. The Southeast Asian country, they forecast, will probably talk to the U.S. side …

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Uber Says IRS Probing its 2013-14 Tax Returns

The U.S. Internal Revenue Service is auditing Uber Technologies’s taxes for 2013 and 2014 and the ride-hailing company expects unrecognized tax benefits to be reduced within the next year by at least $141 million. In its full quarterly report on Tuesday, Uber said various state and foreign tax authorities were also looking into its taxes …

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Uber Says IRS Probing its 2013-14 Tax Returns

The U.S. Internal Revenue Service is auditing Uber Technologies’s taxes for 2013 and 2014 and the ride-hailing company expects unrecognized tax benefits to be reduced within the next year by at least $141 million. In its full quarterly report on Tuesday, Uber said various state and foreign tax authorities were also looking into its taxes …

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Trump: ‘More Likely’ Tariffs Will Be Imposed on Mexican Products

VOA’s Michael Bowman contributed to this story. President Donald Trump said Tuesday he is “more likely” than not to impose a new 5% tariff on imported products from Mexico next week. Trump offered his assessment at a London news conference with British Prime Minister Theresa May. He made his comments even as U.S. and Mexican …

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Trump: ‘More Likely’ Tariffs Will Be Imposed on Mexican Products

VOA’s Michael Bowman contributed to this story. President Donald Trump said Tuesday he is “more likely” than not to impose a new 5% tariff on imported products from Mexico next week. Trump offered his assessment at a London news conference with British Prime Minister Theresa May. He made his comments even as U.S. and Mexican …

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World’s Biggest Nutella Factory Blocked by French Workers

No more Nutella?! French workers are threatening as much, bringing the world’s biggest Nutella factory to a near-standstill in a showdown over salary negotiations. Tensions have been mounting at the site in Villers-Ecalles in Normandy, where activists from the Workers’ Force union have been barring trucks from entering or leaving the factory for a week. …

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World’s Biggest Nutella Factory Blocked by French Workers

No more Nutella?! French workers are threatening as much, bringing the world’s biggest Nutella factory to a near-standstill in a showdown over salary negotiations. Tensions have been mounting at the site in Villers-Ecalles in Normandy, where activists from the Workers’ Force union have been barring trucks from entering or leaving the factory for a week. …

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Mexican President Urges Oil Independence Amid US Trade Tensions

Mexican President Andres Manuel Lopez Obrador reiterated on Sunday the need for oil independence as his government said it would tender six construction contracts in June for a planned oil refinery in the southern state of Tabasco. Tensions between Mexico and the United States have been running high in recent days after President Donald Trump …

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