Soon after presenting his credentials to the German president, the new U.S. ambassador to Germany, Richard Grenell, told German companies to start leaving Iran. “As Donald Trump said, U.S. sanctions will target critical sectors of Iran’s economy. German companies doing business in Iran should wind down operations immediately,” Grenell tweeted Tuesday. His tweet came as U.S. President Donald Trump announced he is pulling the United States out of the nuclear deal with Iran and reimposing sanctions. Businesses continuing to work with Iran could be subject to U.S. penalties. Germany is one of the signatories, and Chancellor Angela Merkel believes the U.S. should have remained in the deal. …

Wooden dhows crammed with secondhand Japanese cars have been sailing unhindered into Yemeni ports for the past three years despite rigid wartime controls on imports of aid and other vital supplies. Like many Yemeni traders, Ali al-Mahry jumped at this chance to turn a profit by supplying customers at home with cars bought cheaply at auction in the United Arab Emirates. A Saudi-led military coalition, of which the UAE is part, has been battling Houthi rebels since 2015 with the aim of restoring the Yemeni government in exile. The coalition has imposed controls to deny arms to the Houthis, fighters aligned with Iran who control the capital Sanaa and Hodeidah, the largest port. The measures have choked off supplies of fuel, food and medicine to Yemen, where millions face starvation and disease. Yet coalition forces appear to have turned a blind eye to the dhows that regularly carry cars from …

The Trump administration is unveiling a multibillion-dollar roster of proposed spending cuts but is leaving this year’s $1.3 trillion catchall spending bill alone.   The cuts wouldn’t have much impact, however, since they come from leftover funding from previous years that wouldn’t be spent anyway.   The White House said it is sending the so-called rescissions package to lawmakers Tuesday. Administration officials, who required anonymity because they weren’t authorized to speak publicly on the matter, said the package proposes killing $15 billion in unused funds. A senior official said about $7 billion would come from the Children’s Health Insurance Program, or CHIP, which provides health care to kids from low-income families, though that official stressed the cuts won’t have a practical impact on the popular program.   The administration is trying to use its authority to prod Congress to “rescind” spending approved years ago, but even if the package is …

Australia’s government is expected to release annual spending plans on Tuesday with a focus on winning votes at elections due within a year. Cheaper craft beer plus personal tax cuts compensated by strengthening company tax revenue have been flagged as well as more investment on roads and rail to stimulate economic growth. Some media have reported that the government might better its timetable for returning the budget to surplus by the 2020-21 fiscal year by balancing the books 12 months earlier. New budget starts July 1 Treasurer Scott Morrison, who will reveal to the Parliament later Tuesday his economic blueprint for the year starting July 1, said the government would live within its means. “The plan for a stronger economy that I will be announcing tonight is about improving the opportunities for all Australians to live in a stronger economy,” Morrison told reporters outside Parliament House. “It’s a plan to …

U.S. oil giant ConocoPhillips is pressing for control of Venezuela’s key offshore operations in the Caribbean, seeking to recoup $2 billion from a decade-old dispute with the nation struggling to feed its people, a source confirmed Monday.   The Houston-based ConocoPhillips is asking a court in the Dutch Antilles for control of facilities that Venezuela’s state-run oil firm PDVSA operates, a person familiar with the claim confirmed to The Associated Press. The person was not authorized to discuss the legal action.   PDVSA relies heavily on the facilities on the islands of Curacao, Bonaire and St. Eustatius used to refine and store Venezuela’s heavy crude before shipment to the U.S., China and India, three major global markets. Dozens of ships that transport oil pumped from Venezuela sat idle Monday docked in the country’s ports, according to an online vessel-tracking website.   Venezuela holds the world’s largest underground oil reserves but …

Air France’s share price dived Monday after its CEO quit and the French government warned that the country’s flagship carrier might collapse. A new strike Monday over wage demands, meanwhile, prompted the cancellation of about 15 percent of Air France flights worldwide. The number of striking staffers appears to be slightly declining as the airline enters its 14th day of walkouts this year, but the labor action has already cost the company more than 300 million euros ($360 million) in a matter of weeks.   Air France’s share price plunged nearly 13 percent at the open Monday and was trading 10.9 percent lower at 7.21 euros early afternoon Paris time amid questions about its future management and direction.   The share price woes follow the resignation Friday evening of Air France-KLM CEO Jean-Marc Janaillac after workers rejected the company’s latest wage proposal.   The Air France drama is posing yet …

The Trump administration has drawn a hard line in trade talks with China, demanding a $200 billion cut in the Chinese trade surplus with the United States, sharply lower tariffs and advanced technology subsidies, people familiar with the talks said Friday. The lengthy list of demands was presented to Beijing before the start of talks Thursday and Friday between top-level Trump administration officials and their Chinese counterparts to try to avert a damaging trade war between the world’s two largest economies. A White House statement did not mention specific demands, but said the U.S. delegation “held frank discussions with Chinese officials on rebalancing the United States-China bilateral economic relationship, improving China’s protection of intellectual property, and identifying policies that unfairly enforce technology transfers.” The statement gave no indication that U.S. President Donald Trump would back off on his threat to impose tariffs on up to $150 billion in Chinese goods …

The Central Bank of Nigeria (CBN) and Peoples Bank of China (PBoC) have agreed on a currency swap worth $2.5 billion to reduce their reliance on the U.S. dollar in bilateral trade. CBN Governor Godwin Emefiele led Nigerian officials, while the PBoC governor, Yi Gang, led the Chinese team to the signing ceremony in Beijing last week. The agreement is aimed at providing sufficient local currency liquidity for Nigerian and Chinese industrialists and other businesses and to reduce difficulties as they search for a third currency. The deal, purely an exchange of currencies, also will make it easier for Chinese manufacturers seeking to buy raw materials from Nigeria to obtain naira, the Nigerian currency, from Chinese banks to pay for their imports. According to Nigerian economist Yusha’u Aminu, excluding United States in the agreement would help to lower the exchange rates between both countries. This report originated in VOA’s Hausa …

U.S. employers stepped up hiring modestly in April, and the unemployment rate fell to 3.9 percent, evidence of the economy’s resilience amid the recent stock market chaos and anxieties about a possible trade war. Job growth amounted to a decent 164,000 last month, up from an upwardly revised 135,000 in March. The unemployment rate fell after having held at 4.1 percent for the prior six months largely because fewer people were searching for jobs. The overall unemployment rate is now the lowest since December 2000. The rate for African-Americans — 6.6 percent — is the lowest on record since 1972. Many employers say it’s difficult to find qualified workers. But they have yet to significantly bump up pay in most industries. Average hourly earnings rose 2.6 percent from a year ago. The pace of hiring has yet to be disrupted by dramatic global market swings, a recent pickup in inflation …

Venezuela said on Thursday it would take over the country’s leading private bank, Banesco, for 90 days and announced the arrest of 11 top executives for “attacks” against the country’s rapidly depreciating bolivar currency. The detentions came on the heels of last month’s shock arrests of two Venezuelan executives working in the country for U.S. oil company Chevron Corp. Oil-rich Venezuela is suffering from hyperinflation and a steady collapse of the bolivar currency, which President Nicolas Maduro has attributed to an “economic war,” but critics blame on incompetence and failed socialist policies. Maduro’s foes say he is cracking down on the business sector to try to shore up support and halt price increases ahead of a controversial May 20 presidential election, which key opposition parties have boycotted as a sham. Chief Prosecutor Tarek Saab announced the arrests in a televised press conference, but did not provide evidence of wrongdoing or take any questions. “We have determined the [executives’] presumed responsibility for a series of irregularities, …

A federal grand jury in Detroit has indicted former Volkswagen CEO Martin Winterkorn with conspiracy and wire fraud in the car builder’s scheme to rig diesel emissions tests. “If you try to deceive the United States, then you will pay a heavy price,” Attorney General Jeff Sessions said Thursday. “The indictment unsealed today alleges that Volkswagen’s scheme to cheat its legal requirements went all the way to the top of the company.” Winterkorn is alleged to have conspired with other top Volkswagen bosses to defraud the U.S. government and consumers with false claims that the company was complying with the Clean Air Act. Volkswagen already admitted it installed devices on diesel models designed to turn on pollution control devices during emissions tests and turn them off when the car is driven on actual highways. Volkswagen was fined $2.5 billion and ordered to recall the affected cars. Winkerton is the ninth …

The U.S. trade deficit narrowed sharply in March as exports increased to a record high amid a surge in deliveries of commercial aircraft and soybeans, bolstering the economy’s outlook heading into the second quarter. While other data on Thursday showed a modest increase in new applications for jobless benefits last week, the number of Americans receiving unemployment aid fell to its lowest level since 1973, pointing to tightening labor market conditions. Wage growth is also rising, with hourly compensation accelerating in the first quarter, more evidence that inflation pressures are building. “The good news is that we are exporting more, but with the labor markets incredibly tight, labor costs are accelerating as well,” said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania. “The rise in labor costs will undoubtedly factor into policymakers’ thinking when they meet again in June.” The Federal Reserve on Wednesday left interest rates …

South Korea is looking into developing and financing economic projects with North Korea that could take effect if a nuclear deal is reached with the United States. South Korean Finance Minister Kim Dong-yeon said on Wednesday the government was “internally carrying out preparations” to organize, finance and implement possible inter-Korea projects. But he also emphasized that Seoul would first seek support from the international community for any North Korean development projects, and would only proceed if the U.S. -North Korea summit, expected to be held in late May or June, produces a joint denuclearization agreement. North Korea is under tough sanctions imposed by the U.N. Security Council for its nuclear weapons and missiles tests, including accelerated efforts in the last two years to develop a long-range nuclear missile that could potentially target the U.S. mainland. The international sanctions ban an estimated 90 percent of the country’s external trade. Seeking sanctions …

A high-level U.S. trade delegation has begun talks with Chinese officials in Beijing as Washington tries to address deep concerns about China’s economic policies. The meeting is seen by some as a positive step, as the two sides attempt to avoid the possible outbreak of a trade war. Analysts say it is unlikely their differences will be resolved during the meetings but a decision to keep talking would be welcome progress. President Donald Trump said on Twitter U.S. officials are “trying to negotiate a level playing field on trade.” Raymond Yeung, a senior economist for Greater China at the Australia and New Zealand Banking Group, says if the two sides can at least agree to keep talking with each other that would be big progress.   “I think it is too demanding to expect that both sides can come up with an agreement or an announcement or sign a deal,” …

The International Monetary Fund censured Venezuela on Wednesday for failing to hand over essential economic data to the fund. “The [Executive] Board noted that adequate data provision was an essential first step to understanding Venezuela’s economic crisis and identifying possible solutions,” an IMF statement said. The board is giving Venezuela another six months to comply or face possible expulsion from the IMF. “The Fund stands ready to work constructively with Venezuela toward resolving its economic crisis when it is prepared to re-engage with the Fund,” the IMF said. Venezuela has not responded to the IMF’s action. But President Nicolas Maduro’s socialist government has long declined to provide data to the IMF. It regards the IMF as a U.S. tool and part of a Washington-inspired economic war against Venezuela. Corruption and the collapse of world energy prices has led to an economic calamity in oil-rich Venezuela, including hyperinflation and severe shortages …

A Chinese company that manufactured Ivanka Trump shoes and has been accused of serious labor abuses is being celebrated in a blockbuster propaganda film for extending China’s influence around the globe.   The state-backed documentary “Amazing China” portrays the Huajian Group as a beneficent force spreading prosperity — in this case, by hiring thousands of Ethiopians at wages a fraction of what they’d have to pay in China. But in Ethiopia, Huajian workers told The Associated Press they work without safety equipment for pay so low they can barely make ends meet.   “I’m left with nothing at the end of the month,” said Ayelech Geletu, 21, who told the AP she earns a base monthly salary of 1,400 Birr ($51) at Huajian’s factory in Lebu, outside Addis Ababa. “Plus, their treatment is bad. They shout at us whenever they want.” With epic cinematography, “Amazing China” — produced by China …

When Andrew Chamberlain started in his job four years ago in the research group at jobs website Glassdoor.com, he worked in a programming language called Stata. Then it was R. Then Python. Then PySpark. “My dad was a commercial printer and did the same thing for 30 years. I have to continually stay on stuff,” said Chamberlain, who is now the chief economist for the site. Chamberlain already has one of the jobs of the future — a perpetually changing, shifting universe of work that requires employees to be critical thinkers and fast on their feet. Even those training for a specific field, from plumbing to aerospace engineering, need to be nimble enough to constantly learn new technologies and apply their skills on the fly. When companies recruit new workers, particularly for entry-level jobs, they are not necessarily looking for knowledge of certain software. They are looking for what most …

With their manicured nails, immaculate makeup and matching handbags and stilettos, you would be forgiven for mistaking the five women seated in the cafe of the upscale Nairobi hotel for a group of senior female executives. Sipping white hot chocolate from delicate porcelain cups, they discuss their long working hours and challenges in finding time with their children, and share strategies on networking and dealing with difficult clients. But these Kenyan women aren’t company directors, finance professionals or corporate lawyers — they are part of a new breed of women who are breaking into the male-dominated taxi sector and hitting Nairobi’s roads as e-cabbies. “Taxi driving is not something I would have considered before, but after driving for a taxi app service, I think it’s a really good job for women,” said Lydia Muchiri, 29, in a knee-length fitted white dress with floral print. “It’s convenient, easy and safe — much better than sitting at home and depending on handouts,” she said, …

U.S. President Donald Trump is extending tariff exemptions on aluminum and steel exports from the European Union, Canada, and Mexico for at least another month. The temporary exemptions of the tariffs already imposed on such nations as China, Japan, and Russia, were to have expired Tuesday. But the White House says it is giving negotiators 30 more days to work out a deal. The European Commission criticized the temporary extension in a statement Tuesday, saying the EU has been willing to discuss the issue and “will not negotiate under threat.” “The U.S. decision prolongs market uncertainty, which is already affecting business decisions,” it said. “The EU should be fully and permanently exempted from these measures, as they cannot be justified on the grounds of national security.” Trump has called the tariffs a national security issue because overproduction by some countries makes U.S. exports more expensive and undesirable on the global …

U.S. President Donald Trump has postponed his decision on whether to impose tariffs on steel and aluminum imports from the European Union, Canada and Mexico until June 1. The announcement Monday provides more time to negotiate deals to exempt those countries from U.S. steel and aluminum tariffs. The Trump administration announced broad tariffs in early March that went into effect for China, Russia, Japan and many other exporters. VOA’s Zlatica Hoke reports. …

With cities facing their fastest growth ever, the head of the United Nations’ agency for urban development is on a mission — to revitalize the organization and ensure people, particularly women, are central to future planning. Maimunah Mohd Sharif, the former mayor of Penang who took up the role of UN-Habitat executive director in January, said cities need to more liveable for women to succeed if they are home, as expected, to 70 percent of the population by 2050. But first, she said, she had to put UN-Habitat back on track to ensure it could help meet the United Nations’ latest set of global goals calling for cities to become inclusive, safe, resilient and sustainable by 2030. For UN-Habitat has struggled in recent years to attract funding from national governments — its primary donors — with the Nairobi-based agency receiving just $2.5 million of a  two-year $45 million budget for …

Uganda’s President Yoweri Museveni was criticized this month when he asked the Finance Ministry to find a way to tax social media use, in order to control what he called “gossip” online. Officials have since walked back that characterization, though they say they are pushing ahead with efforts to add a daily tax on mobile data use beginning this July. For VOA, Halima Athumani reports from Kampala. …

The third and fourth biggest U.S. wireless carriers, T-Mobile and Sprint, said Sunday they plan to merge, the third attempt they’ve made to join forces against the country’s two biggest mobile device firms, Verizon and AT&T. The deal, if it happens this time, calls for T-Mobile to buy Sprint for $26 billion in an all-stock deal. The combined carrier would have 126 million customers, still third in the pecking order of U.S. wireless carriers, but closer to the top two. Verizon has more than 150 million customers, and AT&T more than 142 million. The latest agreement caps four years of on-and-off talks between T-Mobile and Sprint. Sprint dropped its bid for T-Mobile more than three years ago after U.S. regulators objected and another proposed merger fell through last November. The new deal could help the combined companies slash costs to make the new business more competitive with industry leaders. But …

Much remains to be done before a new North American Free Trade Agreement is reached, Mexican Economy Minister Ildefonso Guajardo said Thursday, tempering hopes for a quick deal as ministers met in Washington for a third successive day. Negotiators from the United States, Mexico and Canada have been working constantly for weeks to clinch a deal, but major differences remain on contentious topics such as autos content. Complicating matters, the Trump administration has threatened to impose sanctions on Canadian and Mexican steel and aluminum on May 1 if not enough progress has been made on NAFTA. President Donald Trump, who came into office in January 2017 decrying NAFTA and other international trade deals as unfair to the United States, has repeatedly threatened to walk away from the agreement with Canada and Mexico, which took effect in 1994. “It is going, it’s going, but not easy — too many things, too …