A recent series of Ukrainian drone strikes targeting Russian oil refineries has significantly reduced Moscow’s processing capacity — as Kyiv and its allies aim to deprive Russia of its main source of revenue. Henry Ridgwell reports from London. …
Washington — The Biden administration has reached an agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants in Arizona, Ohio, New Mexico and Oregon. President Joe Biden plans to …
WASHINGTON — Lori Shelton can’t fathom ever having the money to buy a home — and that’s a major reason why so many voters feel down on the economy ahead of this year’s presidential election. Shelton, 67, drives an Uber to …
Taipei, Taiwan — During a trade mission visit to Manila this week, U.S. Commerce Secretary Gina Raimondo announced plans to invest more than $1 billion in the Philippines’ tech sector and help double the number of semiconductor factories in the country. …
WASHINGTON — Consumer prices in the United States picked up last month, a sign that inflation remains a persistent challenge for the Federal Reserve and for President Joe Biden’s reelection campaign, both of which are counting on a steady easing of …
BEIJING — China needs to do more to boost employment and stabilize its property market, top officials acknowledged Saturday, as policymakers struggle to revive the country’s battered economy. Beijing is grappling with a prolonged property sector crisis, record youth unemployment and …
CAIRO — Egypt said Wednesday it has reached a deal with the International Monetary Fund to increase a bailout loan to $8 billion. Prime Minister Moustafa Madbouly announced the news in televised comments on Wednesday. Egypt has for months negotiated with …
Taipei, Taiwan — China’s top leaders set an ambitious economic growth target of 5% for 2024 Tuesday, vowing to “seek progress while maintaining stability” amid a sluggish economy and weak confidence among investors and consumers. Delivering his first work report since …
China kicked off its annual session of parliament Tuesday in Beijing. VOA’s Bill Gallo, who attended the event, says Chinese leaders are trying to put a positive spin on the many economic problems they face. …
WASHINGTON — An inflation gauge favored by the Federal Reserve increased in January, the latest sign that the slowdown in U.S. consumer price increases is occurring unevenly from month to month. The government reported Thursday that prices rose 0.3% from December …
London — Europe’s automakers and their already-stretched suppliers face a tough year as they race to cut costs for electric models to counter leaner Chinese rivals which are bringing cheaper vehicles to challenge them on their home turf. A big question …
Geneva — Since late last century and the early days of the web, providers of digital media like Netflix and Spotify have had a free pass when it comes to international taxes on films, video games and music that are shipped …
Washington — Inflation has changed the way many Americans shop. Now, those changes in consumer habits are helping bring down inflation. Fed up with prices that remain about 19%, on average, above where they were before the pandemic, consumers are fighting …
Ukraine’s economy shrank 29% in 2022, the year Russia launched its full-scale invasion. In addition, Ukrainian businesses were destroyed, exports were halted and millions of people were displaced. But in 2023, Ukranian officials’ say, the economy actually grew 5%. Eastern …