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By Harry Robertson LONDON New trades in the enormous U.S. dollar interest rate swap market have almost entirely
2023-06-06 21:22

Volvo Cars September sales rise 25%, demand up in China
STOCKHOLM Volvo Cars' sales grew 25% in September from a year earlier to 61,666 cars as sales grew
2023-10-05 15:21

Mushroom farms that employed Half Moon Bay mass shooting suspect cited for 'serious' health and safety violations
Two mushroom farms that employed the Half Moon Bay mass shooting suspect were cited for "serious" health and safety violations in an investigation stemming from the January workplace attacks, the California Division of Occupational Safety and Health announced in a news release Monday.
2023-06-28 22:56

US Treasury posts August surplus after student loan cost reversal
By David Lawder WASHINGTON The U.S. government posted a rare August surplus of $89 billion due to the
2023-09-14 02:23

Microsoft to defend customers on AI copyright challenges
Microsoft will pay legal damages on behalf of customers using its artificial intelligence (AI) products if they are
2023-09-08 01:22

San Francisco mayor proposes tearing down Westfield Mall and other shuttered downtown retailers
San Francisco Mayor London Breen suggested remaking the city's struggling downtown neighborhood by tearing down abandoned retail space. Breed argued that a shift to online shopping has contributing to declining foot traffic in the area.
2023-06-24 03:18

Why Janet Yellen’s frequent stops in India are important at a time of tensions with China
US treasury secretary Janet Yellen is back in India for the third time in nine months, this time to meet finance ministers from the Group of 20 nations about global economic challenges like the increased threat of debt defaults facing low-income countries. Ms Yellen will use her time in Gandhinagar to try to foster warming relations between the US and India. She also plans a stop in Hanoi, Vietnam, to address supply chain reliability, clean energy transition and other matters of economic resilience. Ms Yellen's goals for her time in India: press for debt restructuring in developing countries in economic distress, push to modernize global development banks to make them more climate-focused and deepen the ever-growing US-India relationship. Ms Yellen’s frequent stops in the country signal the importance of that relationship at a time of of tensions with China. India’s longstanding relationship with Russia also will loom as the Kremlin's invasion of Ukraine continues despite US and allied countries’ efforts to sanction and economically bludgeon Russia's economy. India has not taken part in the efforts to punish Russia and maintains energy trade with that country despite a Group of Seven agreed-upon price cap on Russian oil, which has seen some success in slowing Russia's economy. Still, the US increasingly relies on India and has courted its leaders. President Joe Biden hosted a White House state visit honoring Indian prime minister Narendra Modi in June, designed to highlight and foster ties. The two leaders pronounced the US-India relationship never stronger and rolled out new business deals between the nations. Raymond Vickery Jr, a policy expert on US-India relations at the Center for Strategic and International Studies, said Ms Yellen's coming to India shortly after visiting China is meaningful in that Indian officials “are going to want to know in great detail what happened in the meetings with her Chinese counterparts and see where it fits with their perspective on economic relations with China.” “They’re going to want to know whether or not the United States is serious about moving some of its sourcing activity from China to India.” A senior Treasury official, speaking on condition of anonymity to preview Ms Yellen’s trip, said there was hope that debt treatments for Ghana and Sri Lanka will be discussed and completed quickly at the meetings. Sri Lanka and Ghana defaulted on their international debts last year, roughly two years after Zambia defaulted. And more than half of all low-income countries face debt distress, which hurts their long-term ability to function and develop. Last month, Zambia and its government creditors, including China, reached a deal to restructure $6.3bn in loans, on the sidelines of a global finance summit in Paris. The agreement covers loans from countries such as France, the U.K., South Africa, Israel and India as well as China – Zambia’s biggest creditor at $4.1bn of the total. The deal may provide a roadmap for how China will handle restructuring deals with other nations in debt distress. Ms Yellen’s trip comes shortly after she spent a week in China, meeting the nation’s finance ministry and discussing mutual trade restrictions and national security concerns. Harold W Furchtgott-Roth, a senior fellow at the Hudson Institute, said Ms Yellen's trip to India “is a reflection of a naturally developing alliance.” “India has a great deal of tension with China – they have constant border disputes,” he said. “And India wants to develop and has developed into sort of an Indian Ocean naval power, which is also a region that China wants to develop." Read More What Britain needs is a ‘grown-up’ relationship with China US Treasury Secretary Janet Yellen visits China as part of efforts to sooth strained relations Yellen says Washington might 'respond to unintended consequences' for China due to tech export curbs Janet Yellen expresses hopes her Beijing visit has put US-China ties on a ‘surer footing’ Janet Yellen highlights record US-China trade and talks ‘fair rules’ during Beijing visit Ukraine war’s heaviest fight rages in east - follow live Charity boss speaks out over ‘traumatic’ encounter with royal aide
2023-07-16 19:16

Australia Voice Referendum Defeated After Divisive Campaign
Australia has voted against including First Nations people in the country’s constitution, projections show, rejecting a proposal to
2023-10-14 17:57

Where Did All That Russian Gas Go?
Much of Russia’s existing gas export infrastructure points West. Unfortunately for Moscow, most of its gas customers are
2023-06-29 12:19

From Barbie to millennial pink, the cultural phenomenon behind the color that sells
The release of “Barbie” is upon us, and the color pink is nearly inescapable
2023-07-21 20:57

US airlines cancel over 1,000 flights as Hurricane Idalia makes Florida landfall
(Reuters) -Airlines in the United States canceled more than 1,000 flights on Wednesday as Hurricane Idalia slammed into the Big
2023-08-31 00:59

Chief of LG Electronics Backs EVs to Drive New Chapter of Growth
One of the world’s leading home-appliance makers is looking to electric vehicles to help drive its growth, specifically
2023-09-26 06:54
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