Economy

Economy news. Economy refers to the system of production, distribution, and consumption of goods and services within a society. It encompasses everything from individual spending and business operations to government policies and international trade. The economy is influenced by numerous factors, including supply and demand, inflation, employment rates, and fiscal policies

Workers Benefiting from Tight Labor Market

Another solid month for the U.S. economy as American companies added 200,000 new workers to their payrolls last month. The unemployment rate remained unchanged at 4.1 percent, but wages are …

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Federal Reserve Imposes New Penalties on Wells Fargo 

The Federal Reserve announced Friday that it was imposing more penalties on Wells Fargo, freezing the bank’s growth until it can prove it has improved its internal controls. In addition, …

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US Stocks Swoon, Sending Dow Down More Than 650 Points

U.S. stocks slumped Friday, pulling down the Dow Jones industrial average by more than 650 points and handing the market its worst week in two years. Technology, banks and energy …

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Britain Embraces China’s ‘One Belt’ Initiative; Washington Offers Warning

Britain has made clear its desire to be part of China’s so-called “One Belt One Road” initiative — a cornerstone of President Xi Jinping’s vision to boost Chinese investment and …

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Mugabe’s Demise Brings Hope to Zimbabwe’s Ousted White Farmers

A new political dawn in Zimbabwe has sparked talk among farmers of land reform and the return of some whites who lost their land and livelihoods to President Robert Mugabe …

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Mugabe’s Political Demise Brings Hope to Zimbabwe’s Ousted White Farmers

A new political dawn in Zimbabwe has sparked talk among farmers of land reform and the return of some whites who lost their land and livelihoods to President Robert Mugabe …

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Refugees Ready to Go Green, Become ‘Innovation Hubs’

Many refugees would like to buy low-carbon stoves and lights but poor access in camps and a lack of funding is forcing them to rely on “dirty and expensive” fuels, …

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Colorful Makeover Puts Mumbai Slum on Tourist Map

A colorful paint job has transformed one of Mumbai’s drab hilltop slums into a tourist destination, even prompting comparisons with Italy’s picturesque Amalfi Coast. During a recent journey on a …

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NEM Foundation: Coincheck Hackers Trying to Move Stolen Cryptocurrency

Hackers who stole around $530 million worth of cryptocurrency from the Coincheck exchange last week — one of the biggest such heists ever — are trying to move the stolen …

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IMF Chief Says Middle Eastern Nations Must Broaden Tax Bases

Middle Eastern countries should pursue fiscal policies to support growth and build broader tax bases to fund infrastructure projects and social spending, the head of the International Monetary Fund said Tuesday. …

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As Trade Tensions Rise With US, China Prepares to Retaliate

As trade tensions grow between the United States and China, there is concern among foreign companies in China that a possible trade war between the two countries could leave them …

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Nutella Scuffles: France Investigates Discounts After Frenzy

French consumer fraud authorities are investigating a promotional campaign for Nutella that prompted scuffles in several supermarkets – and even a police intervention. The Finance Ministry’s fraud agency said Tuesday …

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Trump to Herald Economic Progress in State of the Union

President Donald Trump will herald a robust economy and push for bipartisan congressional action on immigration in Tuesday’s State of the Union address, as he seeks to rally a deeply …

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Cuba Tourism Slides in Wake of Hurricane Irma, Trump

Tourism to Cuba, one of the few bright spots in its ailing economy, has slid in the wake of Hurricane Irma and the Trump administration’s tighter restrictions on travel to …

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US Rejects Proposals to Unblock NAFTA, But Will Stay in Talks

U.S. President Donald Trump’s trade chief on Monday dismissed Canadian proposals for unblocking NAFTA modernization talks but pledged to stay at the table, easing concerns about a potentially imminent U.S. …

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Argentina Freezes Some Government Salaries, Cuts Jobs in Austerity Push

Executive branch government employees in Argentina will get no pay raises this year and one out of every four “political positions” appointed by ministers will be cut, President Mauricio Macri …

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Mozambique Takes Legal Action Over $2 Billion Loans

Mozambique’s Attorney General has filed a legal complaint against officials and state-owned companies involved in securing $2 billion in loans that were not approved by parliament or disclosed publicly, her …

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Experts: Amazon’s ‘HQ2’ Will Bring Strain as Well as Gain to Winning City

As the 20 shortlisted cities vying to host Amazon.com’s second North American headquarters hone their bids to attract thousands of high-paid jobs, they should also plan for rising housing costs …

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Secret Service Warns Financial Firms of ATM Cyberattacks

The Secret Service is warning financial institutions about a type of cyberattack known as jackpotting. Secret Service officials say the crime involves installing malicious software or hardware at ATMs that …

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IKEA Furniture Magnate Ingvar Kamprad Dies at 91

Ingvar Kamprad, who founded Sweden’s IKEA furniture brand and transformed it into a worldwide business empire, has died at the age of 91. Kamprad died Saturday of pneumonia in the …

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Mumbai’s Dharavi Breaks Stereotypes of Slum for Foreign Tourists

Why has Mumbai’s largest slum, which packs some one million people in about two square kilometers, emerged as an unlikely stop for foreign tourists? The draw is not images of …

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Trump Lauds US Economic Performance

U.S. President Donald Trump touted the continued growth of the U.S. economy on Sunday, saying it is “better than it has been in many decades.” “Businesses are coming back to …

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