G20 watchdog urges governments to address non-bank financial risks
ZURICH — The Financial Stability Board (FSB) on Wednesday pitched recommendations for governments to reduce risks around hedge funds, insurers and other non-bank financial intermediaries, which now account for almost half of global financial assets. The sector of non-bank financial…
Nissan, Honda confirm talks on closer collaboration but say there’s been no decision on a merger
BANGKOK — Japanese automakers Nissan Motor Corp. and Honda Motor Co. confirmed Wednesday that they are discussing closer collaboration but denied reports they have decided on a merger. Nissan’s share price soared more than 22% in Tokyo after reports citing…
Japan targets 40-50% power supply from renewable energy by 2040
Tokyo — Japan wants renewable energy to account for up to 50% of its electricity mix by fiscal year 2040 with nuclear power taking up another 20%, according to a draft of its revised basic energy policy, as it makes…
Labor organization: International migrants play crucial role in global economy
GENEVA — Migrants play a crucial role in the global economy by filling essential jobs in foreign countries and sending much-needed remittances to their home countries, according to a report released Monday by the International Labour Organization. The report’s release…
First salmon in century reach Oregon’s Klamath Basin after dam removal
On the U.S. West Coast, conservationists for the world’s largest dam-removal project are both celebrating initial successes and encountering short-term obstacles. VOA’s Matt Dibble has our story from the Klamath River on the border between California and Oregon. Source: voanews.com
After losing beloved lake, a community navigates its future
In the Pacific Northwest, the world’s largest river restoration project has removed hydroelectric dams from the Klamath River to help migrating salmon. The project emptied a lake beloved to its surrounding community. VOA’s Matt Dibble went to the former Copco…
Trump promises lower prices, more oil for US economy
The economy was one of the biggest issues for voters in this year’s U.S. presidential election. As they await Donald Trump’s return to power, many Americans say they expect improving the economy will be one of his first priorities. VOA…
Moody’s hands France surprise downgrade over deteriorating finances
PARIS — Credit ratings agency Moody’s unexpectedly downgraded France’s rating on Friday, adding pressure on the country’s new prime minister to corral divided lawmakers into backing his efforts to rein in the strained public finances. The downgrade, which came outside…
As tourists discover Finland’s Santa Claus Village, some locals call for rules to control the masses
Rovaniemi, Finland — Shuffling across icy ground on a cold December afternoon, lots of tourist groups poured into Santa Claus Village, a winter-themed amusement park perched on the edge of the Arctic Circle. They frolic in the snow, take a…
South Korea’s tourism, soft power gains, at risk from extended political crisis
SEOUL, SOUTH KOREA — From plastic surgery clinics to tour firms and hotel chains, South Korea’s hospitality sector is wary of the potential impact of a protracted political crisis, as some overseas travelers cancel trips following last week’s brief bout…