Business

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Trade tensions, dollar danger cloud economic optimism in Davos

DAVOS, Switzerland (Reuters) - A trade war between the United States and China and a strengthening dollar are among the biggest threats to a brightening global economic outlook, according to leading economists at the World Economic Forum in Davos.<p>As political leaders, businessmen and bankers …

World Economy

IMF boosts growth forecast for US, cites Trump impact

AP Radio AP Radio News:<p>Latest News<p>WASHINGTON (AP) -- The International Monetary Fund on Monday raised its forecast for the U.S. economy over the next two years, saying President-elect Donald Trump's policies should boost economic growth, particularly in 2018. But officials warned that if Trump's …

Economics

Why The Merger Of Essilor And Luxottica's Cultures Is The Key To Extraordinary Value Creation

On the surface, everything about combining Essilor and Luxottica makes complete sense. Yet there’s a fundamental cultural disconnect that risks haunting the merger for years to come. The more leadership focuses merging cultures early on, the more successful they are going to be over time. And the …

Leadership

Trump to Germany: You bring your cars here, you pay 35 percent tax

Already taking aim at Mexico, President-elect Donald Trump is now warning he might enact a 35 percent "border tax" on Canadian and German automobile imports.<p>"You can build cars for the United States, but for every car that comes to the USA, you will pay 35 percent tax," Trump told the German …

21st Century

Study: 8 people have same wealth as world's poorest half

A new study shows 8 famous billionaires have a net worth that equals the poorest half of the world. Researchers are calling on world leaders to change that. USA TODAY NETWORK<p>Income inequality is so now lopsided that eight men now own the same amount of wealth as the poorest half of the world.<p>A top …

Wealth

Theresa May to confirm UK exit from EU single market

Control over immigration and removing Britain from jurisdiction of European court of justice top priorities, speech will say<p>Theresa May is expected to use the most important speech of her premiership to confirm that Britain will be leaving the single market while insisting that it wants to remain …

Brexit

You May Be Eligible For A Cash Payout If You Bought Milk In This Timeframe

Got milk? Get money.<p>It’s time for dairy producers to put their money where their milk is.<p>If you purchased milk or a dairy product any time between 2003 and 2011 and happened to live in one of 16 places (see full list below), you maybe be eligible for a sizable cash payout. This is thanks to a …

Milk

Alibaba unites with Louis Vuitton and Samsung to clean up its reputation

Chinese e-commerce giant Alibaba has a mixed reputation when it comes to counterfeit goods, but it's working hard to make nice.<p>Alongside partners including Louis Vuitton, Samsung and Mars, the company announced the Alibaba Big Data Anti-Counterfeiting Alliance on Monday. The Alliance will use …

Louis Vuitton

Chinese president to defend globalization in Davos

DAVOS, Switzerland (Reuters) - Chinese President Xi Jinping will defend globalization in the face of mounting public hostility in the West on Tuesday in a speech at the World Economic Forum that will underline Beijing's growing global role.<p>Xi's appearance, a first for a Chinese leader at the annual …

China

UK businesses wary about investment on Brexit doubts: survey

LONDON (Reuters) - British businesses are increasingly cautious about their investment plans as they worry about how the country's planned departure from the European Union will affect the economy this year, a survey showed on Tuesday.<p>Business confidence in December remained at its second-highest …

European Union

Sterling skids to three-month low as 'hard Brexit' fears bite

LONDON (Reuters) - Sterling skidded to its lowest levels - bar a "flash crash" in October - in 32 years on Monday, hit by fears that Prime Minister Theresa May will say on Tuesday Britain is set for a "hard" Brexit out of the EU and its single market.<p>The pound fell as much as 1.5 percent against …

Forex

Oil prices inch up on Saudi commitment to cut output

SINGAPORE (Reuters) - Oil edged up on Tuesday after Saudi Arabia said it would strictly adhere to a commitment to cut output, but worries in financial markets about the outlook for crude supply dragged on prices.<p>U.S. West Texas Intermediate (WTI) crude oil futures were trading up 15 cents at $52.52 …

Oil

Japan's Ishihara says market moves reflect uncertainty about global economy

TOKYO (Reuters) - Japanese Economy Minister Nobuteru Ishihara said on Tuesday that a fall in the British pound and declines in stocks reflected uncertainty about Britain's departure from the European Union and about the global economy.<p>"These moves show there is a lot of focus on uncertainty for the …

Japan

Venezuela releases new banknotes in bid to ease cash crisis

Venezuela released larger denomination banknotes as the country grapples with heavy inflation. President Nicolas Maduro set out last month to rid Veneuela of the 100-bolivar note.<p>The Venezuelan government's release of larger denomination banknotes to its citizens comes weeks behind schedule.<p>The new …

Latin America

State Farm isn't cutting rates fast enough and could be fined billions, insurance regulator says

The California Department of Insurance says State Farm is not moving fast enough to lower its rates for homeowners and renters and it could face billions of dollars in fines if it doesn’t speed up the process.<p>The threat of hefty fines, sent Friday to State Farm, escalates an increasingly bitter …

Insurance

Deutsche Boerse-LSE merger make markets healthier: Blackrock

FRANKFURT (Reuters) - Blackrock (BLK.N), the second-largest shareholder in both Deutsche Boerse (DB1Gn.DE) and London Stock Exchange Group (LSE.L), publicly voiced its support for the $28 billion merger of the two European exchanges as key regulatory decisions on the tie-up loom.<p>Deutsche Boerse and …

FinTech

American Apparel starts laying off 2,400 workers in Southern California

American Apparel began to lay off 2,400 workers in Southern California on Monday — kicking off its final chapter as the country’s largest garment maker.<p>Layoffs will continue through the rest of the week and affect workers on the manufacturing and production side, American Apparel said. The company …

American Apparel

UK's May signals EU clean break: no 'half-in, half-out'

LONDON (AP) — Britain will make a clean break from the European Union and not seek to remain "half-in, half-out," Prime Minister Theresa May will say Tuesday, disappointing businesses and voters who want the country to stay in the bloc's single market.<p>In her most detailed speech on the U.K.'s exit …

UK Politics

88 million tons a year: Auditors decry EU food waste

BRUSSELS (AP) — The sheer waste of food had been bothering teacher Marijke De Jongh for so long that two years ago she set up a pop-up restaurant to serve perfectly good groceries and meat that were approaching their expiry date.<p>With her Rekub team, she followed it up with an app that brings …

Agriculture

OPEC sees market stability in 2017, Venezuela aims for $70 price

CARACAS (Reuters) - OPEC Secretary-General Mohammed Barkindo forecast on Monday that stability would return to oil markets this year while price hawk Venezuela said it hoped its crude basket would rise to $70 in coming months.<p>The head of the Organization of the Petroleum Exporting Countries was …

Oil

Asia stocks and pound sag, May speech awaited for Brexit stance

TOKYO (Reuters) - Asian stocks and the pound sagged on Tuesday ahead of a speech by British Prime Minister Theresa May that could have implications for broader risk sentiment.<p>Media have reported that May, due to speak later on Tuesday, will lay out plan to exit the European Union that would see …

Forex

For Young Entrepreneurs, College Debts Can Snuff Out Start-Up Hopes

Saddled with $40,000 in college loans, Catherine Berendsohn, 29, struggled to get a web design business off the ground after graduating from Florida State University in 2010. Ms. Berendsohn, an artist-entrepreneur, wanted to rent a storefront and start a roving studio in Monterey, Calif. Her …

Loans

Double Robotics says it has sold 8,000 robots and generated $20 million in sales since 2013

Double Robotics says there’s a big audience for its telepresence robots and thinks it has the numbers to prove it. In the past four years, the company said, more than 8,000 of its robots were sold worldwide, generating more than $20 million in sales revenue. With this traction, Double Robotics has …

Robotics

Venezuela debuts new banknotes amid soaring inflation

CARACAS, Venezuela (AP) — Venezuelans are standing in long ATM lines to take out new, larger-denominated bills that President Nicolas Maduro hopes will help stabilize the crisis-wracked economy.<p>Maduro last month said he was scrapping circulation of the most-used 100-bolivar note and replacing it …

Latin America

Merkel tells German industry she will fight for free trade

COLOGNE, Germany (Reuters) - Chancellor Angela Merkel told German industry leaders on Monday that she would remain committed to free trade in an indirect rebuttal to comments from U.S. President-elect Donald Trump's about border taxes on car imports.<p>Speaking to the German Chamber of Commence and …

Germany

Too soon to say if Italy needs fresh measures to curb deficit: minister

ROME (Reuters) - Economy Minister Pier Carlo Padoan said on Monday it was too soon to say if Italy needed additional measures to reduce the budget deficit this year, as fresh doubts arose over its economic outlook.<p>"We'll see if further measures are necessary," Padoan told state broadcaster RAI …

Economics

Male employees have a really hard time with performance reviews, study finds

Performance reviews can be tough for anyone. But men take their annual evaluations particularly hard, a new study found.<p>Adobe surveyed 1,500 U.S. office workers and found that most people think performance reviews are a waste of time. About two-thirds of employees and managers think formal reviews …

The Workplace

Fly From the West Coast to Europe for $69

And they're on sale now.<p>Following an announcement by budget carrier Norwegian Air that $69 flights from the U.S. to Europe would become a reality in …

Airlines

South Korean prosecutors seek to arrest Samsung's vice chairman following president's impeachment

South Korean prosecutors on Monday sought a warrant for the arrest of the Samsung Group’s de facto leader — one of the nation’s wealthiest and most-powerful executives — in a bribery case related to last month's impeachment of the country’s president.<p>Investigators allege that Lee Jae-yong, vice …

Korean Peninsula

Old Confronts New In A Gentrifying D.C. Neighborhood

Ernest Peterson has spent his entire adult life in Washington, D.C. — almost all of it in Shaw, a neighborhood of colorful row houses and tree-lined side streets about 2 miles from the White House. In Shaw, Peterson bought his first house and started a business. And, for 20 years, on the Saturday …

Housing

American Apparel starts layoffs: sources

(Reuters) - American Apparel LLC started to lay off staff on Monday, after Canada's Gildan Activewear Inc <GIL.TO> withdrew its initial plan to buy some of the bankrupt U.S. fashion retailer's manufacturing operations, people familiar with the matter said.<p>Gildan won the rights to American Apparel's …

American Apparel

China suspends plans for 85 coal power plants

It's not an intentional bid to save the planet, but we'll take it.<p>China is taking some steps to curb pollution (it doesn't have much choice), but one of its most recent steps may be more of a happy accident. The country's National Energy Administration is suspending 85 planned or in-progress coal …

China

McDonald's website vulnerability puts your password at risk

You can trust McDonald’s to serve you its less than nourishing Big Macs, but you certainly shouldn’t trust its website with your password.<p>Dutch independent software engineer Tijme Gommers has uncovered a still-active vulnerability in the main website of the iconic fast food franchise McDonalds.com …

Black Market

Report: Trucking firms using gadgets to cheat on emissions

BERLIN (AP) — German public broadcaster ZDF reports that trucking companies in Europe may be using electronic equipment to commit large-scale emissions fraud.<p>Tests commissioned by ZDF and freight industry organization Camion Pro found that one in five diesel trucks operated by Eastern European …

Finance

Rhode Island governor wants to make tuition free, too

<b>New York (CNN) —</b> The push for free tuition gained support in another state.<p>On Monday, Rhode Island Governor Gina Raimondo became the second governor to propose a free tuition policy at public colleges this year, following New York Governor Andrew Cuomo. Both plans need to be approved by their …

College & University

Syngenta CEO expects regulatory approval for ChemChina deal soon: CNBC

ZURICH (Reuters) - Syngenta Chief Executive Erik Fyrwald expects regulatory approval soon for ChemChina's proposed $43 billion takeover of the Swiss pesticides and seeds group, he said on Monday.<p>"I am very confident that we will finish the deal. We are making a lot of progress," he told broadcaster …

21st Century

McDonald's accused of exploiting homeless people in Rome

Local group says fast-food chain’s pledge to donate 1,000 meals is a cynical PR strategy after Vatican restaurant opening<p>McDonald’s has been accused of exploiting homeless people in Rome as part of a public relations strategy to gain favour with locals following the controversial opening of a …

Black Market