US companies

Dollar extends gains on Trump tax hopes, Nikkei lifted by Abe win

Hong Kong - Muslimchronicle

The dollar climbed against rivals Monday, helping to push up European and Japanese stock markets, while share prices in the US moved modestly higher at the start of a heavy week of corporate earnings report and a much-anticipated European Central Bank meeting. Key earnings reports were expected from many of the biggest US companies, including Google parent Alphabet, ExxonMobil, McDonald'sRead more

Bloomberg leads mass coalition declaring support

New York - AFP

Former New York mayor Mike Bloomberg led nearly 1,000 business and government officials declaring they would honor the Paris climate accord on Monday, days after US President Donald Trump announced a US exit from the 190-plus nation pact. Experts said the groundswell of support from the private sector, big states such as New York and California, and state and localRead more

US businesses getting hammered by Venezuela crisis

Washington - Arab Today

The political and economic crisis in Venezuela is costing US companies dearly, as General Motors (GM) can attest following the unexpected nationalization of its plant there. The big automaker shut down its operations in Venezuela and laid off its 2,700 workers after the government on Wednesday seized the plant, which had been idle because of the chaotic market environment. TheRead more

Trump sets US tax reform announcement, orders tax rule review

Washington - Arab Today

President Donald Trump on Friday promised a big announcement about tax reform next week and ordered an administration review of Obama-era tax rules written to discourage US companies from relocating overseas to cut their tax bills. “We will be having a big announcement on Wednesday having to do with tax reform. The process has begun long ago, but it reallyRead more

US Treasury will not waive Russia sanctions for oil companies

Washington - AFP

The US Treasury on Friday said it would not waive trade sanctions for US companies seeking to resume oil drilling in Russia, including ExxonMobil. The announcement followed media reports that Exxon had sought a waiver to resume a joint venture with Russia's Rosneft oil company. "In consultation with President Donald J Trump, the Treasury Department will not be issuing waiversRead more

Tillerson declares the Iran nuclear deal a failure

Washington - Arab Today

Secretary of State Rex Tillerson declared the Iran nuclear deal a failure on Wednesday but left open the possibility the Trump administration will uphold it nonetheless. The top American diplomat sought to reinforce the notion that the US is aggressively countering Iran’s destabilizing behavior throughout the Middle East, even though President Donald Trump so far has not pulled out ofRead more

IMF: Trump’s tax cuts could lead to risk-taking

Washington - Arab Today

The International Monetary Fund (IMF) warned on Wednesday that US President Donald Trump’s proposed tax cuts and rollback of financial regulations could spark a new round of financial risk-taking of the type that preceded the last crisis in 2008. The IMF said in its semi-annual Global Financial Stability Report that risks to stability have generally diminished in the last sixRead more

Iran to start exporting gas to Iraq next week

Baghdad – Naglaa El Ta’ee

Iranian Oil Minister, Beigen Zangana announced on Sunday that Iran is going to export gas to Iraq with a pass-through card of 50 million cubic meters. According to Iranian “Fares” news agency, Zangana said that the operation will happen during April, adding that most countries wish to extend the freeze production agreement with OPEC, and Iran supports that decision andRead more

US tells companies not to overlook qualified Americans

Washington - Arab Today

The Trump administration has issued a stern warning to US companies as they begin applying for coveted skilled-worker visas, cautioning that it would investigate and prosecute those who overlook qualified American workers for jobs. The message came on the opening day of applications for American employers seeking visas known as H-1B, which are used mostly by technology companies to bringRead more

‘Japan will tell US to respect WTO rules’

Tokyo - Arab Today

Japan will tell the US in their economic talks that any border tax the US government imposes on imports should not violate World Trade Organization (WTO) rules, an adviser to Prime Minister Shinzo Abe said on Wednesday. Yasutoshi Nishimura also said Japan would not rule out a bilateral trade agreement with the US, but talks may not start soon becauseRead more