WASHINGTON (AP) ― Just as the U.S. job market has finally strengthened, the Federal Reserve now confronts a new worry: A sputtering global economy that’s spooked investors across the world. The economic slump could spill into the United States, potentially weakening job growth and keeping inflation well below the Fed’s target rate. Such fear has led some analysts to suggest that the Fed might wait until deep into next year to start raising interest rates ― and then raise them more gradually than

China and Russia agree currency swap line and sign energy, finance deals

Clotilde Narzisi and Luca Soliman have run the Caffe Orefici, 200 feet from Milan’s iconic Duomo Cathedral, for 10 years. Forced to sell their business because of high taxes, they say their only hope now is to leave it in Chinese hands. “They are the only ones who are buying,” said 43-year-old Narzisi during a break after the lunch-time rush of businessmen and shoppers in the heart of Italy’s financial capital. “We want to sell, taxes are too high; we work eight hours a day for the state and one

A visitor walks past Volkswagen Passat sedans displayed inside the Oriental Pearl Tower in the Pudong area of Shanghai. (Bloomberg)Volkswagen AG will expand technology development with Chinese partner FAW Car Co. and prolong cooperation for 25 years to defend its leadership in the world’s fastest-growing major car market and fend off General Motors Co. Europe’s largest automaker will additionally invest 100 million euros ($126 million) together with its second local partner, SAIC Motor Corp., in

Company has received nearly 145,000 requests a day to be ‘forgotten’

HAMBURG (AFP) ― China’s Premier Li Keqiang said Saturday the world’s second-biggest economy must open further to harness the innovative and creative talents of its 1.3 billion people.After three decades of reforms, China ― often called the world’s manufacturing workshop ― had launched administrative and market reforms “to boost creation and innovation,” he said on a visit to Germany.“What we hope is to incentivize 1.3 billion people, including 800 million-900 million workers, to mobilize their i

GENEVA (AFP) ― Switzerland’s embattled banking secrecy could be dealt a final death blow in 2018, after the government decided on Wednesday to launch talks with other nations on the automatic exchange of account details.In a statement, the government said it had “adopted definitive negotiation mandates for introducing the new global standard for the automatic exchange of information in tax matters with partner states.”“Negotiations with partner states should commence shortly,” it added.Long the

PARIS (AFP) ― The OECD pointed to a weak outlook for growth in the eurozone, particularly in Germany, on Wednesday when its index of leading economic indicators pointed to stable growth elsewhere.This latest signal of gloom for the eurozone came the day after the International Monetary lowered its forecast for growth in the 18-member single currency area.“In Europe, signs are emerging of a loss of growth momentum in the Euro area,” the Organization for Economic Cooperation and Development said.I

NEW YORK (AP) ― Wal-Mart Stores Inc., America’s largest private employer, plans to eliminate health insurance coverage for some of its part-time U.S. employees in a move aimed at controlling rising health care costs.Wal-Mart told the Associated Press that starting Jan. 1, it will no longer offer health insurance to employees who work less than an average of 30 hours a week. The move affects 30,000 employees, or about 5 percent of Wal-Mart’s total part-time workforce, but comes after the company