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Economy News

Old jobs die hard in China's rustbelt

Saerhtu - Once the pride of Communist rulers and now hit by a global glut and slowing domestic growth, China's largest oilfield epitomises Beijing's reluctance to cut jobs at loss-making state-run operations.

Cuba considers legalizing small private businesses

Havana - The Cuban authorities are considering legalizing certain private businesses, a potentially transformative move for the communist island as it liberalizes its economy.

Brazil leader hails deficit win, corruption scandal lurks

Bras - Brazil's interim president Michel Temer celebrated a first victory Wednesday for his urgent economic reforms after Congress agreed to widen the budget deficit, but fresh corruption allegations haunted his government.

Brazil congress approves deficit spending

Bras - Brazil's congress early Wednesday approved a deficit spending plan proposed by the interim government of President Michel Temer after 16 hours of debate. The government says it is facing a record 170.

No work, no trade on empty Silk Road in northern Afghanistan

Termiz - Some days there is no train at all crossing the bridge to Uzbekistan, yawns a customs officer in Hairatan, formerly a teeming Silk Road border town whose decline is a barometer of economic depression in Afghanistan's north.

Greece in debt relief breakthrough with eurozone, IMF

Brussels - Eurozone finance ministers reached a vital deal with Greece on Wednesday to start debt relief for Athens as demanded by the International Monetary Fund, and to unlock 10.3 billion euros ($12 billion) in bailout cash.

Brazil president urges economy reforms, slams 'psychological aggression'

Bras - Brazil's acting president Michel Temer on Tuesday called for reforms to haul Latin America's biggest economy back from crippling recession and slammed what he called "psychological aggression" against his government.

Out of order: India bank says third of ATMs don't work

Mumbai - A third of India's cash machines don't work, the central bank said, posing a challenge for the government as it strives to provide banking services to millions of poor citizens living in rural areas.

Venezuelan middle-class struggles with shrinking money

Caracas - Venezuela's minimum monthly salary is 15,051 bolivares, which a government subsidy for all workers bumps up to nearly 18,600 bolivares. But no matter how you cut it, it's barely enough to live on.

Bolivian leader visits embattled Venezuelan counterpart

Caracas - Bolivian President Evo Morales made a brief visit to Venezuela on the weekend during which he reiterated support for his embattled ally, Nicolas Maduro, state media reported.

Greece to adopt more cuts, tax hikes for bailout cash

Atenas - Greece on Sunday was set to adopt fresh cuts and tax hikes ahead of a Eurogroup meeting that is expected to unlock desperately-needed bailout funds for the debt-ridden nation.

International concern mounts over Venezuela

Caracas - International concerns are mounting over the economic and political crisis in Venezuela, where the military on Saturday wrapped up two days of exercises ordered by embattled President Nicolas Maduro.

G7 warns of Brexit 'shock' to global economy

Sendai - A British vote to quit the European Union would inflict a "shock" on the global economy, G7 ministers said Saturday, presenting a united front against the prospect of a "Brexit".

G7 warns over global economy as currency row flares

Sendai - G7 finance ministers on Saturday voiced concern about the sputtering global economy as they looked for a plan to stoke growth, while a currency policy clash overshadowed their meetings.

G7 warns over global economy as currency row flares

Sendai - G7 finance ministers on Saturday voiced concern about the sputtering global economy as they looked for a plan to stoke growth, while a currency policy clash overshadowed their meetings.

Brazil deficit much worse than thought: Minister

Bras - Brazil's projected budget deficit for this year will be nearly twice as big as forecast when Dilma Rousseff was president, the new finance minister said Friday.

Venezuela's armed forces are political too

Caracas - Venezuela's armed forces, which are conducting exercises against perceived internal and external threats, hold immense power in the government of President Nicolas Maduro and notably have interests in the vital oil sector.

Chile, Argentina, Uruguay call for 'political dialogue' in Venezuela

Santiago - Chile, Argentina and Uruguay appealed Friday for an "effective political dialogue" in Venezuela amid a deepening crisis in the leftist-led South American country.

Argentina president vetoes anti-layoff law

Buenos Aires - Argentina's President Mauricio Macri fought back against his opponents on Friday in his quest to reform Latin America's third-biggest economy, vetoing their bid to curb his unpopular job cuts.

Plane crash prolongs Egypt's economic misery

Cairo - Egypt's latest air disaster is another crushing blow to a country whose tourism-dependent economy is struggling to recover from years of jihadist attacks and political turmoil, analysts said.

Cuba bracing for rough waters as leftist tide goes out

Havana - Cuba is bracing for rough waters ahead as it navigates a political sea change in Latin America, where the left is fighting an outgoing tide.

Venezuela flexes military muscle with exercises

Caracas - Venezuela on Friday launched what it called its biggest-ever military exercises as unpopular President Nicolas Maduro sought to display his grip on power amid an economic meltdown and a push to vote him out of office.

Mediators push for 'national dialogue' to calm Venezuela crisis

Caracas - Foreign mediators trying to bring crisis-hit Venezuela back from the abyss announced a bid to get embattled President Nicolas Maduro's government and the opposition to sit down for talks.

Mediators push for 'national dialogue' to calm Venezuela crisis

Caracas - Foreign mediators trying to bring crisis-hit Venezuela back from the abyss announced Thursday a bid to get embattled President Nicolas Maduro's government and the opposition to sit down for talks.

Four and a half months in Venezuela: Timeline of crisis

Caracas - Venezuela's political crisis has intensified with the opposition demanding a recall referendum against President Nicolas Maduro, who has declared a state of emergency.Here is a timeline of recent events in the major South American oil producer.

Venezuela opposition courts international pressure on Maduro

Caracas - Venezuela's opposition leader met with foreign mediators in Caracas on Thursday in a bid to up the pressure for a recall referendum against embattled President Nicolas Maduro.

Venezuela president ready to escalate state of emergency

Caracas - Venezuelan President Nicolas Maduro said Wednesday he was prepared to escalate a state of emergency imposed this week after opposition-led protests in the capital and other cities.

U.S. embassy in Venezuela stops visa work over staff shortage

Caracas - The US embassy in Caracas said Wednesday it has suspended processing new applications for short-stay visas because the Venezuelan government was barring the entry of consular staff.

'We want food!': Venezuela crisis deepens

Guarenas - It was around noon when a food truck rolled up to a Venezuelan state-subsidized supermarket in the town of Guarenas just east of the capital.But, to the fury of the long line of people waiting out front, the cargo wasn't unloaded.

Venezuela police block anti-Maduro protest in Caracas

Caracas - Riot police firing tear gas blocked a 1,000-strong anti-government protest in the center of Caracas on Wednesday, one of 20 opposition rallies across crisis-hit Venezuela venting fury at President Nicolas Maduro and demanding his ouster.
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Backus  Schoenholtz  Coronado  and Reinhart at the Economic Outlook Forum at NYU Stern on September ...
Backus, Schoenholtz, Coronado, and Reinhart at the Economic Outlook Forum at NYU Stern on September 3, 2014
Schoenholtz  Coronado  Reinhart  and Backus at the Economic Outlook Forum at NYU Stern on September ...
Schoenholtz, Coronado, Reinhart, and Backus at the Economic Outlook Forum at NYU Stern on September 3, 2014
UK - London: Occupy London  2012
UK - London: Occupy London, 2012
xpgomes9
UK: HM Treasury entrance
UK: HM Treasury entrance
HM Treasury
Russian President Vladimir Putin has forecast the economy will bounce back 1.4 percent in 2017
Russian President Vladimir Putin has forecast the economy will bounce back 1.4 percent in 2017
Igor Ageyenko, AFP
Coronado  Schoenholtz  Reinhart  and Backus at the Economic Outlook Forum at NYU Stern on September ...
Coronado, Schoenholtz, Reinhart, and Backus at the Economic Outlook Forum at NYU Stern on September 3, 2014
 We are the Champions : Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundhei...
"We are the Champions": Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundheit in Berlin
Hawaii: APEC 2011
Hawaii: APEC 2011
APEC
Republicans just can t seem to find it in themselves to share the nation s enthusiasm over the recov...
Republicans just can't seem to find it in themselves to share the nation's enthusiasm over the recovery.
Department of Labor
Along with the closeout merchandise and surplus merchandise markets  the returned merchandise and li...
Along with the closeout merchandise and surplus merchandise markets, the returned merchandise and liquidation industry generates over $100 billion dollars in revenue annually.
 We are the Champions : Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundhei...
"We are the Champions": Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundheit in Berlin
President Barack Obama greets Rep. Gabrielle Giffords  D-Ariz.  as he arrives on the floor of the Ho...
President Barack Obama greets Rep. Gabrielle Giffords, D-Ariz., as he arrives on the floor of the House Chamber to deliver the State of the Union address at the U.S. Capitol in Washington, D.C., Jan. 24, 2012
Pete Souza / White House
The economic divide in Cabbagetown.
The economic divide in Cabbagetown.
Sen. Hatch  left  enjoys some Ogden chili.
Sen. Hatch, left, enjoys some Ogden chili.
Hatch DC office
Occupy London: The piazza of St Paul’s Cathedral
Occupy London: The piazza of St Paul’s Cathedral
Eman Jueid / Aslan Media
President Obama delivers his State of the Union address at the U.S. Capitol  D.C.
President Obama delivers his State of the Union address at the U.S. Capitol, D.C.
Lawrence Jackson / White House
Berlin:  We are the Champions
Berlin: "We are the Champions"
millenials by the numbers
millenials by the numbers
From http://blog.k12.com/
Pudong  China s financial and commercial hub  situated in Shanghai.
Pudong, China's financial and commercial hub, situated in Shanghai.
Wikipedia