The US economy has been chugging along, expanding at a “slight-to-moderate pace” but labor shortages and trade uncertainty continue to weigh on the outlook, the Federal Reserve said Wednesday.
US and Chinese officials are tentatively working to finalize a new trade agreement, with a signing ceremony expected as soon as late May, The Wall Street Journal reported Wednesday.
The US decision to enforce a tough but long-delayed law in Cuba could have far-reaching effects, including triggering an avalanche of lawsuits as well as action before the World Trade Organization.
United Continental still expects to receive new Boeing 737 MAX planes in 2019 and does not expect a fight with the manufacturer over recovering costs from the planes’ grounding, United executives said Wednesday.
The European Union and Canada warned Wednesday of reprisals after the United States for the first time allowed lawsuits against foreign companies operating in Cuba, including EU and Canadian firms.
Czech police believe billionaire Prime Minister Andrej Babis should be indicted for alleged involvement in EU subsidy fraud worth two million euros, a spokesman said Wednesday.

Business News Lawsuit accuses Chinese tech billionaire of rape

A Chinese college student is suing tech billionaire and JD.com founder Richard Liu for allegedly raping her last year during a US visit.

Business News Disney donates $5 mn to restore Notre-Dame

Disney will donate $5 million for the reconstruction of Notre-Dame, the company announced Wednesday, calling the French cathedral an “irreplaceable masterpiece.”

Business News South Korea’s Moon kicks off three-country Central Asian tour

South Korean President Moon Jae-in kicked off a trade and investment-focused tour of Central Asia on Wednesday with a visit to Turkmenistan, as he seeks to ease reliance on China and the US.

Business News India’s stricken Jet Airways suspends all operations

India’s debt-stricken Jet Airways halted all of its operations Wednesday after failing to secure emergency funding from lenders, leaving it teetering on the edge of bankruptcy.

Business News US trade deficit hits 8-month low in February on autos, aircraft

The US trade deficit in February fell to its lowest level in eight months, thanks in part to rising aircraft and auto exports, according to government data released Wednesday.

Business News SA emerging chicken importers say hiking poultry tariffs would hurt consumers

A chairperson says slapping massive import tariff increases is the low road, and simply a way to shut down competition.

Business News US firms in China frustrated, business lobby says

American firms in China remain frustrated and are growing more pessimistic about their prospects in the country, a top business lobby said Wednesday, while a trade war between Washington and Beijing continues to fester.

Business News Petrol lines in Portugal as strike bites

Lines stretched out at petrol stations in Portugal on Wednesday as supplies were hit by a fuel haulers strike days before a long holiday weekend.

Business News Ericsson, Swisscom launch Europe’s first large scale 5G network

Telecom equipment manufacturer Ericsson said Wednesday it had launched the first European large scale commercial 5G network together with Swiss operator Swisscom, as Ericsson posted a first quarter profit boosted by sales in North America.

Business News EU threatens $12 bn in tariffs over US Boeing subsidies

The EU on Wednesday unveiled a wide-ranging list of US-made goods, from beeswax to car parts, subject to tariffs in retaliation for subsidies to Boeing as a transatlantic trade war risked re-erupting.

Business News MC Mining wins as appeal against environmental authorisation for coal project is dismissed

Its subsidiary Baobab Mining and Exploration is developing the hard coking and thermal coal project in Limpopo province.

Business News Bailouts could lead to ratings downgrade, warns Moody’s

A report released by the ratings agency kindest to SA has led to a drop in the rand.

Business News Clicks Group interim earnings up 13.2%

CEO Vikesh Ramsunder says the group is planning capital investment of R700 million for the year.

Business News Rolfes Pigments eyes expansion into southern Africa

A managing director says the key attraction is the size of the southern African market and their potential for growth.

 

 

 

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