Voice of America : Economy (58)

US Sues to Stop AT&T's Takeover of Time Warner

The U.S. Justice Department is suing to stop AT&T's multi-billion dollar bid to take over another communications giant, Time Warner, calling it illegal and likening it to extortion. "The $108 billion acquisition would substantially lessen competition, resulting in higher prices and less ...

Technology Companies, Retailers Send US Stock Indexes Higher

U.S. stocks are higher Monday as technology and industrial companies, banks and retailers all make modest gains. Drugmakers and other health care companies are trading lower. Companies that make opioid pain medications are down sharply after the government released a much higher estimate of the ...

Yellen to Leave Fed Board When New Leader Sworn In

Fed Chair Janet Yellen says she will leave the U.S. central bank's board when her successor is sworn in early next year. Jerome Powell was chosen by President Donald Trump to head the Federal Reserve when Yellen's term expires. Powell must be confirmed by the U.S. Senate before he can take office, ...

Amsterdam, Paris Picked to Host EU Agencies After Brexit

The European Union went back to its roots Monday by picking cities from two of its founding nations — France and the Netherlands — to host key agencies that will have move once Britain leaves the bloc in 2019. During voting so tight they were both decided by a lucky draw, EU members except ...

US State of Nebraska OKs Keystone Oil Pipeline Route

Regulators in the U.S. state of Nebraska have voted to approve a route for TransCanada Corp's Keystone XL pipeline - the last major obstacle to complete the oil pipeline that President Donald Trump has supported. The regulatory body, which by state law could not consider the risk of leaks or ...

Bitcoin Hits Record High After Smashing Through $8,000 for First Time

Bitcoin hit a new record high on Monday after smashing through the $8,000 level for the first time over the weekend, marking an almost 50 percent climb in just eight days. The new high came after leading U.S. payments company Square Inc. said late last week that it had started allowing select ...

White House: Opioid Crisis Cost US Economy $504 Billion in 2015

Opioid drug abuse, which has ravaged parts of the United States in recent years, cost the economy as much as $504 billion in 2015, White House economists said in a report made public on Sunday. The White House Council of Economic Advisers said the toll from the opioid crisis represented 2.8 ...

With Little Movement, NAFTA Talks Said to Run Risk of Stalemate

Talks to update the North American Free Trade Agreement appeared to be in danger of grinding toward a stalemate amid complaints of U.S. negotiators' inflexibility, people familiar with the process said on Sunday. The United States, Canada and Mexico are holding the fifth of seven planned rounds of ...

Toyota Banking on Hydrogen Fuel Cell Technology

When it comes to cars, generally there are three options, there is gas, a gas-battery hybrid, or a full electric car. But for a fourth option, some car companies are banking on hydrogen as the fuel of the future. VOA's Kevin Enochs reports.

Report: No Fireworks — or Progress — at NAFTA Talks

Negotiators at high stakes talks to update NAFTA have so far kept their tempers but are not making much progress on tough U.S. demands that could sink the 1994 trade pact, a well-placed source said Saturday. Officials from the United States, Canada and Mexico are meeting in Mexico City for the fifth ...

Some Republicans Nervous NAFTA Talks Could Fail

Pro-trade Republicans in the U.S. Congress are growing worried that U.S. President Donald Trump may try to quit the NAFTA free trade deal entirely rather than negotiate a compromise that preserves its core benefits. As a fifth round of talks to modernize the North American Free Trade Agreement ...

Unions Take NAFTA Wage Fight to Mexican Senate

The head of Canada's biggest private-sector union headed to Mexico's Senate on Friday, promising to fight at the NAFTA trade pact talks for improved Mexican wages and free collective bargaining as a way of benefiting workers across North America. The issue of tougher labor standards has emerged as a ...

US Revises NAFTA Goals to Reflect Demands in Talks

The Trump administration on Friday revised its negotiating objectives for revamping the North American Free Trade Agreement, largely to reflect the demands it has made in NAFTA talks on agriculture, intellectual property and investment. The revised objectives are now in line with U.S. proposals to ...

How Much Is a Life Worth, Ask Activists Fighting Slavery?

From $7 for a Rohingya refugee to $750 for a North Korean “slave wife,” human rights activists have voiced concerns that it is becoming increasingly easy to enslave another human being as the cost plummets. The average modern-day slave is sold for $90-100 compared to the ...

Experts: Puerto Rico May Struggle for More Than a Decade

Puerto Rico could face more than a decade of further economic stagnation and a steep drop in population as a result of Hurricane Maria, experts say. The stark estimates were presented this wee to members of a federal control board overseeing finances of a U.S. territory that is already in the 11th ...

Probe Finds Ongoing Radioactive Leaks at Illinois Nuclear Plants

Radioactive waste continues to pour from Exelon's Illinois nuclear power plants more than a decade after the discovery of chronic leaks led to national outrage, a $1.2 million government settlement and a company vow to guard against future accidents, an investigation by a government watchdog ...

Venezuela, State Oil Firm Default on Billions Worth of Bonds

The Venezuelan government and its state-owned oil company PDVSA have officially defaulted on billions of dollars' worth of bonds, the latest chapter of the country's deep financial collapse.  The International Swaps and Derivatives Association, a group of banks and brokers that determines whether ...

Megacities Get Smart, But Concerns Grow That Girls Being Left Behind

Megacities of the future will boast high-speed rail, superfast broadband, and green energy systems — but experts Thursday said they were failing to leave space for one thing: girls. Proposed by leaders worldwide, so-called Smart Cities are being built to cater for a growing global middle class ...

NAFTA Demise Would Not Be Devastating, Mexico says

Mexico's economy minister said on Thursday he did not agree with statements made by U.S. Commerce Secretary Wilbur Ross that it would be devastating for Mexico if the United States pulls out of the North American Free Trade Agreement . "No, I don't think so," Ildefonso Guajardo said in a television ...

Keystone Pipeline Spills 5,000 Barrels of Oil in South Dakota

TransCanada Corp.’s Keystone pipeline leaked an estimated 210,000 gallons of oil onto agricultural land in northeastern South Dakota, the company and state regulators said Thursday, but state officials don’t believe the leak polluted any surface water bodies or drinking water systems. ...

Schools Are Best Means of Ending Child Labor, Experts Say

Access to education is key to ending child labor, but many countries are not investing enough to rescue 150 million children globally from often hazardous work, experts said. When schools offer meals, transport and occupational training, children can often stop working, experts said Thursday at the ...

Tesla to Enter Trucking Business With New Electric Semi

After more than a decade of making cars and SUVs — and, more recently, solar panels — Tesla Inc. wants to electrify a new type of vehicle: big trucks. The company was set to unveil its new electric semitractor-trailer Thursday night near its design center in Hawthorne, California. The move ...

Big Businesses From Apple to Walmart Say Train Suppliers to Stamp Out Slavery

Businesses striving to stamp out slavery from their supply chains should not dismiss struggling suppliers but train them to improve the lives of workers, and technology can play a part, leading companies including Apple and Walmart said on Wednesday. In recent years modern-day slavery has ...

Ivory Coast to Expel Cocoa Farmers From Largest Forest Reserve

Top cocoa producer Ivory Coast will launch an operation to expel thousands of illegal farmers from the Goin-Debe forest reserve, the West African nation's largest, a government spokesman said on Thursday. The decision is part of efforts to protect forests in Ivory Coast, which has lost much of its ...

House Republicans Clear Key First Step to Send Tax Bill to Trump

The U.S. House of Representatives passed significant changes to the nation's tax code for the first time in three decades and by a comfortable vote margin Thursday, giving President Donald Trump and congressional Republicans a much-needed win after a year of legislative setbacks. "This is nothing ...

Trump Pushing House Republicans to Adopt Tax Overhaul

U.S. President Donald Trump is pushing Thursday for adoption of a wide-ranging overhaul of the country's complex tax laws as he meets with the majority Republican caucus in the House of Representatives shortly before a scheduled vote on the issue. Republican leaders in the House have voiced optimism ...

Analysts: Resolving Farm Issue Could Help Zimbabwe's Battered Economy

Zimbabwe's economy has been hammered by political unrest, soaring inflation, a shortage of foreign cash, a trade deficit and many other problems. Residents say the economic turbulence has driven thousands of people out of the country and makes daily life challenging. But an economic analyst says ...

The Ultimate in Luxury Air Travel

If you're wealthy and you want to buy an airplane, no matter how big, you want to go to the biennial Dubai Air Show. There, you will find everything, from a small two-seater to a diamond-encrusted jet. Aircraft manufacturers say business is booming as more and more rich people try to avoid crowded ...

Mexico Rejects Special Benefit in NAFTA for AT&T

Mexico shot down a proposal by the United States to include provisions in the North America Free Trade Agreement that would benefit AT&T, Mexico’s Economy Minister Ildefonso Guajardo said Wednesday. “AT&T, which is North American, asked its government to reflect its interests in the ...

Border Jam Threatens Mongolia’s Coal Lifeline

In Mongolia’s Gobi desert, thousands of heavy-duty trucks laden with coal inch along a cluttered highway toward the Chinese border in a journey that can take more than a week. Truckers cook, eat and sleep in vehicles covered in coal dust, many subsisting on the same meat soup that fueled ...

Adidas Leads Way as 4 Companies Win 'Stop Slavery' Award

German sportswear giant Adidas led the pack as four companies won a global award on Wednesday for shining a light on their own supply chains to eradicate modern slavery from their operations. Adidas was revealed as the overall winner of the second Thomson Reuters Foundation Stop Slavery Award, which ...

NAFTA Unlikely to Hurt Mexico-US Security Ties, But Election Might

Mexico's threats to weaken U.S. narcotics and migration co-operation if NAFTA dies are pure bluster, Mexican and U.S. officials say, with next year's election posing a far greater challenge to future collaboration. Mexican officials have threatened to strike back if U.S. President Donald Trump kills ...

UN Warns Manage Climate Risks or Face Much More Hunger by 2050

Climate change threats, from worsening drought and flooding to sea level rise, could increase the risks of hunger and child malnutrition around the world by 20 percent by 2050, food security researchers warned Wednesday. But looking carefully at the very different risks facing each country, region ...

Urban Expo: Cities Need Support Now to Handle Future Residents

Many cities are being overwhelmed by growing numbers of people migrating to them, and will become highly vulnerable to floods, storms and other disasters unless authorities receive more support, urban experts said Wednesday. The proportion of the global population living in urban areas has risen ...

Threats, Torn Maps Test India's Digitization of Century-old Land Titles

India's push to digitize its land records to minimize conflicts and increase transparency of transactions is marred by torn maps, tradition and disputes dating back decades, according to an analysis of the progress made by three states. The national land record modernization program, launched in ...

Venezuela Wins Russia, China Backing as It Says It Is Honoring Debt

Venezuela won easier debt terms from Russia and got a vote of confidence from China on Wednesday, as the oil-rich country said it had starting making interest payments on bonds after a delay that had threatened to trigger a default. A debt restructuring deal with Russia that allows Caracas to make ...

Electric Trucks Emerging But Still Have a Long Haul

Electric trucks are having a moment in the spotlight, but they won’t replace diesel-powered trucks in big numbers until they overcome costs and other limitations. Tesla Inc. plans to unveil a semitractor-trailer this week, its first foray into trucking after more than a decade of making cars ...

Managing Overtourism an Increasing Feature of Global Travel

Venice is planning to divert massive cruise liners. Barcelona has cracked down on apartment rentals. Both are at the forefront of efforts to get a grip on "overtourism," a phenomenon that can disrupt communities, imperil fragile buildings and harm the experience of travelers. Tourism-phobia has ...

Airbus to Sell 430 Planes to Indigo for $49.5 Billion

Airbus announced on Wednesday that it will sell 430 airplanes to U.S. firm Indigo Partners for $49.5 billion in the European firm's biggest deal ever. The announcement came at the Dubai Air Show and the deal includes 273 A320neos and 157 A321neos. The airlines that use the aircraft will include ...

Employers Hire Sexual Harassment Trainers

Recent accusations of sexual misconduct by Hollywood movie mogul Harvey Weinstein is impacting the upper echelons of the business world. The "Weinstein Effect” has men in powerful positions facing similar accusations. It is also increasing awareness about where the line is between friendly ...

Mexico to Respond to Tough US Proposals at Fifth NAFTA Round

Mexico will respond to U.S. demands for changes in content rules for autos and an automatic expiration clause in the NAFTA trade deal when negotiations on reworking the accord begin again this week, a top government official said on Tuesday. A fifth round of talks to overhaul the North American Free ...

Urban Farming Technologies Crop Up in Homes, Restaurants

How do you obtain the freshest, locally grown produce in a big city? For an increasing number of urbanites, the answer is to grow it yourself. Cam MacKugler can help. MacKugler was at the recent Food Loves Tech event in Brooklyn, New York showing off Seedsheets, roll-out fabric sheets embedded with ...

US Senate Republicans Tie Tax Plan to Repeal of Key Obamacare Mandate

U.S. Senate Republicans on Tuesday linked repealing a key component of Obamacare to their ambitious tax-cut plan, raising new political risks and uncertainties for the tax measure that financial markets have been monitoring closely for months. In comments that infuriated Democrats and left some ...

AP Explains: What's the Deal with the Uranium One Deal?

The sale of Uranium One, a Canadian firm with rights to mine U.S. uranium, to a Russian company is in the news again with the Department of Justice signaling it could appoint a special counsel to look into the matter. U.S. President Donald Trump and his supporters have criticized the deal and ...

Flirting With Default, Venezuela Vows Debt Payment

Venezuela's cash-strapped government on Tuesday vowed it was making debt payments responsibly, even as two ratings agencies declared partial default on a crippling debt load that has fueled hunger and disease. President Nicolas Maduro’s government left investors scratching their heads on Monday ...

Alaska Airlines Discontinues Los Angeles-Havana Daily Flight

Alaska Airlines says it will stop flying to Havana after demand dropped and the Trump administration imposed new restrictions on travel to Cuba.   The Seattle-based airline said Tuesday that its last flight between Los Angeles and Havana is planned for Jan. 22.   Last week, the Trump ...

Sudan to Unify Currency Rate in Bid to Win Foreign Investment

Sudan is taking steps to close the gap between its official and unofficial currency rates and scrap subsidies by end-2019 to win foreign investment after U.S. sanctions ended, Minister of State for Finance Magdi Hassan Yassin told Reuters on Tuesday. Washington last month suspended 20-year sanctions ...

US Commerce Chief: 'Some Sort' of NAFTA Deal Will Reach Trump

U.S. Commerce Secretary Wilbur Ross said on Tuesday that he believes NAFTA negotiations will produce "some sort" of a deal for President Donald Trump to evaluate but repeated his warnings that the United States will walk away from the trade pact if key problems are unresolved. Ross, speaking before ...

From Catering to Coding, Jobs Help Survivors of Slavery to Rebuild Lives

With modern slavery emblazoned in headlines around the world, a growing number of companies and charities are stepping forward to help survivors get something they desperately need — jobs. From making clothes and furniture in India to cooking, catering and even coding in the United States, such ...

US Oil, Gas 'Resurgence' Expected as Global Demand Grows

Oil will continue growing as a source of energy for over two decades, with the U.S. set to become the undisputed leader in crude and gas production, the International Energy Agency said Tuesday. The report from the Paris-based agency will come as grim news for officials attending global climate ...