Stories tagged: economy
Tue., Dec. 6, 2016, 8:30 a.m.
Saudi Arabia switches OPEC tack with eye on world’s top IPO
To understand why Saudi Arabia changed course and decided OPEC should go back to managing supply, look at two of the kingdom’s biggest policy challenges: the urgent need to plug …
Tue., Dec. 6, 2016, 7:44 a.m.
EU’s Brexit negotiator puts time pressure on Britain
Britain may not have two years to negotiate its divorce from the European Union after all.
Tue., Dec. 6, 2016, 7:35 a.m.
Trump interjects himself in Air Force One, business deals
President-elect Donald Trump, a political newcomer who touts his corporate skills, turned businessman-in-chief Tuesday, first demanding the government cancel a multibillion-dollar order for new presidential planes and then hailing a …
Tue., Dec. 6, 2016, 7:24 a.m.
U.S. trade deficit widens in October from a nearly 3-year low
The U.S. trade deficit climbed in October from its lowest monthly level in nearly three years. Imports of consumer goods such as medicine, cell phones and clothing increased, while exports …
Tue., Dec. 6, 2016, 7:20 a.m.
U.S. factory orders up 2.7 percent in October
Orders to U.S. factories rose in October by the largest amount in 16 months but a key category that tracks business investment posted an anemic gain.
Mon., Dec. 5, 2016, 3:01 p.m.
Cereal maker General Mills to cut as many as 600 jobs
General Mills, which has been struggling with weaker sales for its cereal and yogurt, plans to cut between 400 and 600 jobs around the world as it restructures its business.
Mon., Dec. 5, 2016, 2:14 p.m.
Trump’s ‘retribution’ tax stirs legal questions, GOP resistance
Donald Trump’s threats to use taxes as “retribution” against U.S. companies that move jobs overseas are legally dubious, tax specialists say – and they’re prompting resistance from some Republican leaders …
Mon., Dec. 5, 2016, 1:46 p.m.
Google deal puts Africa on cusp of first smartphone plant
A Johannesburg startup is set to become the first company ever to manufacture smartphones in Africa, taking advantage of low costs and growing local demand to build handsets, tablets and …
Mon., Dec. 5, 2016, 1:36 p.m.
Ford said to issue $2 billion in auto debt for tech spending
Ford plans to issue about $2 billion in debt, the company’s first automotive borrowing in almost four years, as it boosts spending on self-driving cars, mobility services and electrified vehicles.
Mon., Dec. 5, 2016, 12:50 p.m.
Greece gets some short-term debt relief from eurozone
Greece’s creditors in the 19-country eurozone have agreed to give the cash-strapped country some short-term debt relief even though they remain to be convinced that the Greek government has delivered …
Mon., Dec. 5, 2016, 11:41 a.m.
Tyson announces plans for $150 million venture fund
Arkansas-based Tyson Foods Inc. announced plans Monday to create a venture fund aimed at developing innovations in food production.
Mon., Dec. 5, 2016, 11:19 a.m.
McDonald’s revamps $4 billion McCafe brand as it lags Starbucks
McDonald’s Corp., losing ground in its battle for the nation’s coffee drinkers, is planning to shake up its McCafe brand — part of a bid to challenge Starbucks Corp. and …
Mon., Dec. 5, 2016, 9:40 a.m.
Amazon unveils ‘self-driving’ brick-and-mortar convenience store
Call it Amazon.com’s driverless store. The tech giant has built a convenience store in downtown Seattle that deploys a gaggle of technologies similar to those used in self-driving cars to …
Mon., Dec. 5, 2016, 8:24 a.m.
Cars without drivers scoot around Nissan plant, towing cars
Nissan Motor Co. is testing self-driving cars at one of its plants in Japan that can tow vehicles on a trailer to the wharf for loading on transport ships.
Mon., Dec. 5, 2016, 8:02 a.m.
Supersonic passenger planes may begin test flights in 2017
The time it takes to fly from New York to London may be cut by more than half if Virgin Group founder Richard Branson and a Denver startup create a …
Mon., Dec. 5, 2016, 8 a.m.
Wal-Mart joining corporate surge to protect LGBT employees
Wal-Mart Stores Inc. added insurance coverage for transgender workers this year, joining more than 500 companies taking a bigger role in advancing the rights of LGBT employees in a competitive …
Mon., Dec. 5, 2016, 7:59 a.m.
US services firms grow at fastest pace since October 2015
U.S. services companies expanded last month at their fastest pace in more than a year.
Sun., Dec. 4, 2016, 10:53 a.m.
Airlines swim in cash but leave airport workers high and dry
After losing more than $50 billion in the decade following the Sept. 11 terrorist attacks, U.S. airlines have been enjoying some financially robust times of late.
Fri., Dec. 2, 2016, 3:14 p.m.
Trump looked into hotels in Cuba ‘no more than 6 months ago,’ Spanish exec claims
As a candidate, President-elect Donald Trump looked into the possibility of establishing hotels in Cuba, according to the head of a major Spanish hotel chain.
Fri., Dec. 2, 2016, 2:31 p.m.
Mall of America welcomes its first black Santa
Dozens of Santas cycle through Twin Cities shopping centers each year, spreading joy to children who entrust them with their holiday wish lists. What has been missing from that experience, …
Fri., Dec. 2, 2016, 1:54 p.m.
Next test for pipeline protesters: the North Dakota winter
So far, the hundreds of protesters fighting the Dakota Access pipeline have shrugged off the heavy snow, icy winds and frigid temperatures that have swirled around their large encampment on …
Fri., Dec. 2, 2016, 1:50 p.m.
Obama’s health care law can’t keep pace with medical spending
Public and private spending for U.S. health care increased to $3.2 trillion in 2015 or nearly $10,000 per person, according to a government report released Friday.
Fri., Dec. 2, 2016, 12:46 p.m.
Denmark files charges against Uber over ‘illegal’ business
Danish prosecutors have filed charges against Uber’s European regional hub in the Netherlands with “helping to commit illegalities.”
Fri., Dec. 2, 2016, 11:50 a.m.
1st U.S. offshore wind farm to begin production within days
There has been a hiccup at the nation’s first offshore wind farm as it prepares to start delivering power.
Fri., Dec. 2, 2016, 11:45 a.m.
Indonesia to host IMF-World Bank annual meeting in 2018
Indonesia has been selected to host the 2018 Annual Meetings of the International Monetary Fund (IMF) and World Bank on the resort island of Bali, during which central bankers and …
Fri., Dec. 2, 2016, 11 a.m.
Indonesia backs out of OPEC amid production cut
Indonesia has temporarily withdrawn from the Organization of the Petroleum Exporting Countries (OPEC) following the group’s decision to cut production by 1.2 million barrels of oil per day (bopd) next …
Fri., Dec. 2, 2016, 9 a.m.
China makes move on Latin America as Trump steps back from trade deals
Now that Donald Trump is preparing to take charge and has said he’ll withdraw from U.S. trade agreements, China is signaling that it plans to capitalize on the worries of …
Fri., Dec. 2, 2016, 8:28 a.m.
Incoming Treasury Secretary Steve Mnuchin steps down from Sears board
Steven Mnuchin, who was nominated by Donald Trump as the next Treasury secretary, is stepping down from the board at Sears.
Fri., Dec. 2, 2016, 8:20 a.m.
Next Starbucks CEO brings tech savvy
After turning Starbucks Corp. into the world’s largest coffee chain, Chief Executive Officer Howard Schultz will hand the reins to a lieutenant who could solidify its role as a technology …
Fri., Dec. 2, 2016, 7:30 a.m.
Snapchat maker expands in London ahead of public offering
The maker of Snapchat is taking some of its biggest steps to expand outside the U.S.