When government leaders in Saxony learned that Rheinmetall, Germany’s most prominent arms manufacturer, was considering building a new munitions factory in the former East German state, they saw visions of economic boom. It was a chance, they thought, to capitalize on the city’s storied airfield — home to the Red Baron in World War I, […]
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Just a few weeks ago, China Evergrande, the world’s most debt-saddled property developer, was writing its final chapter and working to resolve financial disputes with its creditors. Then a stream of bad news came and the pages were torn up. Staff at the company’s wealth management arm have been detained by the authorities. Two former […]
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Hospitality workers in Las Vegas have voted overwhelmingly to authorize a strike against major resorts along the Strip, a critical step toward a walkout as the economically challenged city prepares for major sporting events in the months ahead. The authorization vote on Tuesday by members of Culinary Workers Union Local 226 and Bartenders Union Local […]
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Hundreds of workers at a factory in Shenyang in northeastern China weld automated machines, 95 yards long, that are used to bore subway tunnels. At another factory there, employees assemble robots that China’s solar panel makers will use to streamline their production. Shenyang is the capital of Liaoning Province, one of three large provinces in […]
Read More Hundreds of workers at a factory in Shenyang in northeastern China weld automated machines, 95 yards long, that are used to bore subway tunnels. At another factory there, employees assemble robots that China’s solar panel makers will use to streamline their production. Shenyang is the capital of Liaoning Province, one of three large provinces in […]
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Paris Skouros pointed toward the sky outside his office in Athens on a recent weekday. In the past six months, four high-rises had sprung up, built by Greek and international builders to be sold for use as tourist rentals, foreign real estate investments and company offices. Farther afield, a fresh crop of new buildings dotted […]
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The United States and China have created a new structure for economic dialogue in an effort to improve communication between the world’s largest economies and stabilize a relationship that has become increasingly strained in recent years. The Treasury Department said on Friday that the United States and China had agreed to create economic and financial […]
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An accountant in northeast China deposited her life savings and received a letter guaranteeing her investment in a trust firm. Workers at a state-owned utility pooled money from friends and relatives believing that their investments were backed by the government. A man sank $140,000 into an account that he was told would make a 10.1 […]
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Isolated from the world and pulled closer into Beijing’s orbit over the past three years, Hong Kong is finding that its fortunes are tied more than ever to China. The city’s stock market, which is seen as a proxy for China’s economy, is among the world’s worst performing this year. The rivers of money that […]
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Deeper Into the Numbers: Core inflation slowed faster than expected. The volatility and international nature of energy prices means policymakers are also closely watching other measures of inflation to determine how embedded price growth has become in the economy. A key gauge of domestic price pressures is core inflation, which strips out energy and food […]
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Emmanuel Cherry, the chief executive of an association of Ghanaian construction companies, sat in a cafe at the edge of Accra Children’s Park, near the derelict Ferris wheel and kiddie train, as he tallied up how much money government entities owe thousands of contractors. Before interest, he said, the back payments add up to 50 […]
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China’s trains, planes, stores and beaches were a little fuller last month than a year ago, and the pace of activity picked up at factories, particularly those making mobile phones and semiconductors. A batch of numbers released on Friday by China’s National Bureau of Statistics showed a modest improvement in the country’s overall retail sales […]
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The European Central Bank on Thursday raised interest rates for a 10th consecutive time in an effort to force inflation down. The bank lifted its three key interest rates by a quarter of a percentage point, raising the deposit rate to 4 percent, the highest in the central bank’s two-decade history. “Inflation continues to decline […]
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China’s central bank announced a policy change on Thursday that will allow the country’s banks to lend more money, but a nationwide economic slowdown has left many companies and households wary of borrowing. The move is the latest in a series of economic stimulus measures by the Chinese government as growth has failed to rebound […]
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Not long after Crystal Springs started her new job at a large insurance company in Midtown Manhattan earlier this year, she realized that a much bigger chunk of her paycheck than she expected was going directly to child care for her 5-year old daughter. Ms. Springs had dreamed that the job, which allowed her and […]
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For decades, America’s corporate chieftains saw China as a money spinner. They gushed about its hundreds of millions of consumers, called it “one of the biggest opportunities” and made predictions that this would be “China’s century.” Now, those executives have come away from recent visits to the country with a more sober view. Western companies […]
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As of early September, more than 100,000 migrants had arrived in New York City since the spring of 2022. The city has struggled to respond as people from all over the world have arrived, sometimes by the hundreds each week. Many have sought shelter with the city, which has a legal obligation to give beds […]
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Two megatrends have shaped American life since the 1980s: The rise of China and the hollowing out of American industry. China’s economic boom prompted a thousand predictions — that it will soon surpass us as an economic power, that the 21st century is going to be a Chinese century, that America is an aging, decadent […]
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