A pack of Nobel Prize-winning economists gave Donald Trump and his policy plans the thumbs-down on Friday, with one saying the president-elect’s programs could lead to a deep recession.Speaking on a panel during the first day of the annual American Economic Association meeting in Chicago, the Nobel laureates voiced a variety of concerns about the billionaire developer’s stance, from his haranguing of US companies about their outsourcing plans to the risk that his tax and spending proposals could

SAN FRANCISCO (AP) -- Apple penalized CEO Tim Cook for the iPhone maker's first sales slump in 15 years with a 15 percent pay cut.Cook still did extremely well, with a compensation package valued at $8.7 million for Apple's fiscal year that ended Sept. 24, according to a regulatory filing made Friday. But the amount was down from nearly $10.3 million in the prior year.The Cupertino, California, company cited a downturn in Apple's revenue and operating profit as the main reason it cut the pay of

 WASHINGTON (AFP) - SpaceX says it has determined the cause of a launchpad explosion that destroyed a satellite in September and is ready to start launches again as early as Sunday.　An unmanned SpaceX Falcon 9 rocket exploded September 1 in Cape Canaveral, destroying a satellite that Facebook planned to use to beam high-speed internet to Africa.　That marked a setback for the California-based private space firm and its founder Elon Musk, who wants to revolutionize the launch industry by making ro

SHANGHAI (AFP) -- China is the world's second-largest economy and has one of the fastest growth rates of any G20 nation, but its  stock markets have been among the worst performing in the world this year.Starting with a botched attempt to reduce volatility that instead triggered a spectacular meltdown, Chinese bourses have spent the year struggling against feckless policymakers, massive capital flight and a languishing currency.The benchmark Shanghai Composite Index (SCI) closed Friday down 12.3

BRUSSELS -- Apple on Monday launched a legal challenge against a landmark EU decision that the tech giant pay billions in back-taxes to Ireland, claiming the EU has ignored the law.The European Commission, the EU executive arm, in August ordered iPhone maker Apple to reimburse a record 13 billion euros ($14 billion) in unpaid taxes in Ireland.The EU, led by its competition chief Margrethe Vestager, accused Ireland of handing Apple a secret tax deal that allowed the iPhone maker to enjoy almost z

South Korea has started the second round of free trade talks to discuss ways to boost bilateral economic exchanges and investment, the trade ministry said Sunday.   The FTA talks that started in Jerusalem earlier in the day will run through Thursday, according to the Ministry of Trade, Industry and Energy.   The first round of negotiations took place in Seoul in June, seven years after the two countries began discussions on starting FTA talks in 2009.   FTA negotiations between Seoul and Jerusal

BRUSSELS (AFP) -- Eurozone inflation rose to a two-and-a-half-year high in November as Europe inched away from very low consumer prices that have threatened an already fragile economic recovery.The level matched forecasts by analysts and will come as a relief to the European Central Bank which has embarked on a highly controversial and massive stimulus programme to boost inflation.The Eurostat statistics agency on Wednesday said consumer prices in the 19-country currency bloc rose by 0.6 percent

VIENNA (AP) -- With Saudi Arabia declaring a "critical day" for OPEC, oil ministers of the cartel moved closer Wednesday to end infighting and reach an agreement to cut output for the first time in eight years.The price of oil rallied as chances grew that the 14-nation group will agree on individual quotas for its members _ the international benchmark for crude oil soared $3.22 to $49.60 a barrel.An OPEC decision to cut production could have an impact on consumers, as oil price increases feed in

FRANKFURT (Bloomberg) -- The European Central Bank warned that the risk of an abrupt global market correction on the back of rising political uncertainty has intensified, posing a threat to banks, stability and economic growth.“More volatility in the near future is likely and the potential for an abrupt reversal remains significant,” the central bank said in its twice-yearly Financial Stability Review published on Thursday.“Elevated geopolitical tensions and heightened political uncertainty amid

MANILA (AP) -- Continued engagement by the United States with Asia under President-elect Donald Trump would be good for both the region and America, the head of the Asian Development Bank said Thursday.Takehiko Nakao, who began his second term as president of the Manila-based development bank on Thursday, also said there is a strong case for regional agreements to liberalize trade and investment despite Trump's threat to withdraw from the 12-nation Trans-Pacific Partnership. Nakao made the comme

A single drop of milk. A newborn baby. The ravages of war and terrorism. The defiance of those who protest and the fear of those entrapped.      All are included in a multimedia project featuring Time magazine's most influential images of all time, released Thursday through a new book, videos and a website.      Many of the photos or frames from films are familiar, engrained in the collective conscious, including the Pulitzer Prize-winning ``Falling Man,'' taken on 9/11 by Richard Drew of The As

General Electric and Baker Hughes are joining their oil and gas businesses to create a powerful player in an energy sector buffeted by years of weak prices. The deal could give the new company, which will be called the ``New'' Baker Hughes, more leverage both in technology, and with oil drillers that are cutting back on contracts with oilfield service companies like Baker Hughes.  Baker Hughes is the smallest of the big three oilfield services companies. It has a market capitalization less than