Saudi bombs prop up failing ally in Yemen after Shiite rebel gains

Mar 27, 2015

Saudi bombs prop up failing ally in Yemen after Shiite rebel gains

Saudi Arabia led airstrikes against Shiite rebels in Yemen as it seeks to prop up an allied government facing the loss of its last remaining stronghold. The Saudis headed a coalition of 10 Sunni-ruled nations that carried out raids around Yemen’s capital Sanaa, which ...

Mar 25, 2015

Trader Sumitomo braces for worst losses since 1997

Sumitomo Corp. said it expects an annual loss of ¥85 billion ($711 million), more than four times the number forecast by analysts, after the trading house posted additional write-downs on its resources investments. The drop in energy and commodity prices means Sumitomo will need ...

Mar 8, 2015

China defends island-building in South China Sea

China’s foreign minister on Sunday defended his government’s controversial policy of reclamation on disputed isles in the South China Sea, which has sparked regional concern, and said Beijing is not seeking to overturn the international order. Last year, Chinese President Xi Jinping tried to ...

Feb 9, 2015

Current account surplus hit record low in 2014

The current account surplus was the smallest in 2014 since comparable data became available in 1985, with the trade deficit swelling thanks to a surge in gas imports and a weaker yen, government data showed on Monday. The current account surplus, one of the ...

New U.N. sanctions proposed for Islamic State group oil trading

Feb 7, 2015

New U.N. sanctions proposed for Islamic State group oil trading

A proposed U.N. resolution to crack down on the financing of terrorist groups calls for sanctions on individuals and companies trading oil produced by the Islamic State and other al-Qaida-linked groups. The Russian-sponsored resolution, obtained Friday by The Associated Press, would also require all ...

Feb 6, 2015

Russian inflation hits 15% as economic pain deepens

Russia’s inflation hit 15 percent in January, official data showed on Thursday, underscoring the growing economic pain from sliding oil prices and Western sanctions linked to the Ukraine conflict. Inflation has been shooting up in recent months as a result of a slide in ...

Islamic State fighters admit defeat in Syrian town of Kobani

Feb 1, 2015

Islamic State fighters admit defeat in Syrian town of Kobani

The Islamic State group has acknowledged for the first time that its fighters have been defeated in the Syrian town of Kobani and vowed to attack the town again. In a video released by the pro-Islamic State Aamaq News Agency late Friday, two fighters ...

Consumer optimism puts  U.S. economy on steady course

| Jan 31, 2015

Consumer optimism puts U.S. economy on steady course

There’s a good reason the U.S. economy is impressing the world right now despite a slowdown in the final three months of 2014: In a word, steadiness. Companies have been hiring at healthy rates for the past year. Layoffs hover near historic lows. Auto ...