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U.S.-China Trade Tensions to Hammer Air Cargo

Trade tensions between the US and China will hammer air cargo this year, an industry body warned Tuesday, the latest sign the tariff slugfest is damaging the global outlook. 

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U.S. Set to Become Net Exporter of Oil

Crude production is set to continue expanding in the United States thanks to shale oil, with the country becoming a net exporter from 2021, a development which should reinforce global energy security, the IEA said Monday.

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Boeing Stock Plunges after Ethiopia Crash, Sending Dow Lower

Tumbling shares in U.S. aviation giant Boeing on Monday tore a hole in the Dow Jones Industrial Average, sending the benchmark index into the red for a sixth day.

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Tesla Changes Course, Will Keep More Showrooms Open

Electric carmaker Tesla is reversing course on its decision to move most of its sales online, saying it will keep many of its showrooms open -- but will need to hike prices to do so.

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Turkey Tumbles into Recession as Polls Loom

Turkey's economy fell into its first recession in a decade, official data showed on Monday, just weeks before President Recep Tayyip Erdogan's government faces local elections when growth and inflation will be key issues for voters.

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Court Bars Ghosn from Attending Nissan Board Meeting

A Japanese court on Monday barred Carlos Ghosn from attending a Nissan board meeting, as the bailed former chairman prepares his defense against charges of financial misconduct.

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Poor South African Savers Ruined by Bank Collapse

"As treasurer of my stokvel, I had to go to the bank almost every day to find out what is happening," said Annah Muambadzi, 65, of the panic that gripped her savings club.

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Philadelphia Says No to Totally Cashless Future

With an increasing number of U.S. businesses no longer accepting cash, Philadelphia -- the City of Brotherly Love -- is taking a stand to protect the so-called "unbanked" and will force merchants to accept greenbacks.

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Italy's PM Heads Off Coalition Split over High-Speed Rail Project

Italy's Prime Minister Giuseppe Conte appears to have headed off a crisis over the disputed Turin-Lyon high-speed rail project that threatened to split the coalition government, Italian media reported Sunday.

Conte, a trained lawyer, helped draft a legal document late Friday to find a way out of the conflict between coalition partners the far-right League and the anti-establishment Five Star movement (M5S), said Italian daily Corriere della Sera.

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China Says Will Not Devalue Currency to Spur Exports

China has gone to great lengths to support its currency and would not devalue the renminbi to spur exports or combat trade frictions, the governor of the central bank said Sunday.

Speaking on the sidelines of China's annual parliamentary session, Yi Gang said Washington and Beijing had discussed exchange rates in recent trade talks and reached a consensus on many "crucial" issues.

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