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Economy News

Eurozone growth shudders on trade worries, French protests

Paris - Global trade war fears and disruptions caused by anti-government protests in France pushed business growth in the eurozone to a four-year low in December, an influential survey showed Friday, raising concerns the region's economy might stall.

EU backs modest eurozone reform despite French push

Apo - EU leaders will approve a modest list of euro single currency reforms on Friday that are a far cry from the vast overhaul to the European project sought by France.

40 years in the making: Five lives changed by China's reforms

Bejing - China's "reform and opening up" policy brought monumental changes to society in the world's most populous country since its launch 40 years ago under late paramount leader Deng Xiaoping.

Yemen central bank expects $3 bn deposits from Gulf donors

Aden - Yemen's central bank expects a $3 billion cash injection from Gulf allies Kuwait and the United Arab Emirates, an official said Thursday, as the war-battered country seeks to prop up its sagging economy.The deposits, if confirmed, would follow a $2.

Slovenian MPs pass ten percent minimum wage rise

Ljubljana - Slovenia's parliament on Thursday approved a phased ten percent increase in the minimum wage, as the eurozone country's economy continues to rebound from a 2013 crisis with its fifth year of growth.

Argentina's economic program yielding results: IMF

Washington - Argentina's economic program, including tough budget cuts, is yielding results and stabilizing financial markets, an International Monetary Fund spokesman said Thursday.

End of an era as ECB set to withdraw crisis-fighting stimulus

Frankfurt Am Main - A chapter of eurozone history will come to a close Thursday, with the European Central Bank widely expected to withdraw a key element of support for the economy while reassuring observers fearful of the growing risks.

Investors reject Mexico bond buyback in blow to president

Mexico - Investors rejected a new, sweetened offer from the Mexican government Wednesday to buy back their bonds from a cancelled airport project, deepening a growing quagmire for President Andres Manuel Lopez Obrador.

Raising cattle a risky business for Venezuela ranchers

Barinas - Rotting hides on the road are all that is left of three butchered cows. Such carnage is common in Venezuela's cattle country, where thieves, squatters and government policy threaten a vital food resource.

Global economy in 2019: Growth beginning to fray

Washington - American farmers have been forced to warehouse a bumper crop of soybeans, or sell at a loss, while a Midwest medical supply company is considering shipping production overseas amid growing uncertainty.

Macron blows hole in budget with 'yellow vest' measures

Paris - French President Emmanuel Macron's measures to help low-income families and so end the "yellow vest" protests will blow a hole in the budget and perhaps his reputation too, analysts say.

Myanmar and India strengthen ties in key state visit

Nay Pyi Taw - India inked science and tech deals with Myanmar on Tuesday, as well as pledging to train judges and build houses in crisis-hit Rakhine state, as Delhi cosies up to the strategically important Southeast Asian country.

India's rupee slides as central bank chief quits

Mumbai - India's rupee plunged on Tuesday after the country's central bank chief quit following a dispute with the government that analysts say raises fears about its independence.

India central bank chief quits after spat with government

New Delhi - The head of India's central bank resigned on Monday following a public spat with Prime Minister Narendra Modi's administration about alleged government interference.

From shopping to tourism, French protests hit economy

Paris - Shops shuttered in the run-up to Christmas, chaos on the roads: France's "yellow vest" protests are dealing a blow to the economy which the finance minister says is no less than a "catastrophe".

OPEC agrees joint 1.2 mn bpd cut with partners

Vienna - OPEC members and 10 other oil producing nations agreed Friday to cut output by 1.2 million barrels a day in a bid to boost prices.

Odebrecht boss says worst is over after vast corruption scandal

S - The reputation of Odebrecht, a Brazilian construction giant, has become linked with corruption after it admitted to paying hundreds of millions of dollars in bribes in a dozen countries to secure public works contracts.

Maduro announces $6 bn in Russian investments in Venezuela

Moscow - Venezuela's President Nicolas Maduro announced $6 billion in Russian oil and gold mining investments in his crisis-wracked South American country Thursday, after talks in Moscow with Kremlin officials.

Five consequences of France's 'yellow vest' protests

Paris - Anti-government protesters wearing fluorescent yellow jackets have roiled France for nearly three weeks and shaken the government of President Emmanuel Macron.

WTO chief warns of economic danger of trade war

Washington - All countries will lose in a global trade war, the head of the world's trade referee warned in a speech on Wednesday.

Number of poor in Brazil grows by two million

Bras - The number of people living in poverty in Brazil grew by two million last year in the wake of the country's worst recession on record, according to the government statistics bureau.The figure, going from 52.8 million poor in 2016 to 54.

Trump asks OPEC not to cut production

Washington - US President Donald Trump on Wednesday urged OPEC members not to slash production at their upcoming meeting, saying global oil prices should remain low.

Putin vows 'support' as Venezuela's Maduro seeks financial aid

Moscow - Russian President Vladimir Putin on Wednesday voiced support for Venezuelan leader Nicolas Maduro as he visited Moscow seeking financial assistance for the socialist country's collapsing economy.

'He thinks he's God': Macron's style fuels French protesters' ire

Le Mans - The French have gone sour on their 40-year-old President Emmanuel Macron, who has been heckled and booed in recent days as he grapples with a tax revolt. Why does he inspire such hatred among the "yellow vest" protesters?

Luxury 'Red Flag' models buck China auto sales slump

Bejing - Car sales are falling in China this year but one brand is speeding ahead: The national "Red Flag" sedan is flying high, powered by purchases from the government, state companies and patriotic citizens.

Cuba set to tighten screws on private sector

Havana - Ten years after they were first authorized to do business in Cuba, private entrepreneurs will be subjected to tougher restrictions from Friday -- a move likely to stall their expansion on the communist-ruled island.

Trump fears sap EU digital tax plans

Apo - A top EU official Tuesday said the fear of retaliation by US President Donald Trump has blunted Germany's ambition for a European digital tax, with Paris and Berlin now proposing a scaled down version.

Will Macron's U-turn stop France's 'yellow vest' protests?

Paris - The French government has announced a major U-turn in suspending fuel tax rises in a bid to end increasingly violent demonstrations.

Italy PM says new budget proposal 'in coming hours'

Rome - Italian Prime Minister Giuseppe Conte said Tuesday that a revised draft budget to avoid penalties from Brussels would be ready "in the coming hours".

Italy PM says new budget proposal 'in coming hours'

Milan - Italian Prime Minister Giuseppe Conte said Tuesday that a revised draft budget to avoid penalties from Brussels would be ready "in the coming hours".
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UK: HM Treasury entrance
UK: HM Treasury entrance
HM Treasury
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
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"Assembly." Detroit Publishing Company, 1923 May 7. Touring Turn-of-the-Century America: Photographs from the Detroit Publishing Company, 1880-1920.
Library of Congress
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Schoenholtz, Coronado, Reinhart, and Backus at the Economic Outlook Forum at NYU Stern on September 3, 2014
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"We are the Champions": Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundheit in Berlin
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For sale sign
Diana Parkhouse (CC BY 2.0)
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Berlin: "We are the Champions"
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US GDP 2010 to 2012
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Canberra: Bus Depot Markets.
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millenials by the numbers
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"We are the Champions": Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundheit in Berlin
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Obama addresses Congress - State of the Union Address 2013
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Fred Olsen Windcarrier's Brave Term jack-up vessel was used in the construction of the Block Island Wind Farm.
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Pete Souza / White House