European Union regulators accused social media company Meta Platforms on Monday of breaching the bloc's new digital competition rulebook by forcing Facebook and Instagram users to choose between seeing ads or paying to avoid them.
Meta began giving European users the option in November of paying for ad-free versions of Facebook and Instagram as a way to comply with the continent's strict data privacy rules.
Full StorySigns reading "I'm buying dollars" line the doors of Víctor Vargas' shoe shop in the heart of Bolivia's biggest city, a desperate attempt to keep his family business alive.
Just a few years ago, the 45-year-old Vargas would unlock the doors at 8 a.m. to a crush of customers already waiting to buy tennis shoes imported from China. Now, his shop sits hopelessly empty.
Full StoryTurkey on Friday welcomed a decision by an international watchdog to remove it from a so-called " gray list " of countries that have not fully implemented measures to fight money laundering and terrorism financing.
The announcement by the Financial Action Task Force in Singapore could bolster foreign investments in Turkey, which is trying to rebound from a deep economic downturn.
Full StoryWhen COVID-19 hit, long lines formed outside shops selling gold in Poland. Then came Russia's full-scale invasion of Ukraine, triggering another rush for gold.
Piotr Kozik, the manager of a Warsaw shop selling gold bars and coins produced by the Mint of Poland, remembers how the day of Russia's invasion, Feb. 24, 2022, was Fat Thursday, when Poles gorge themselves on paczki, jam-filled donuts.
Full StoryIt's a scenario that terrifies America's auto industry.
Chinese carmakers set up shop in Mexico to exploit North American trade rules. Once in place, they send ultra-low-priced electric vehicles streaming into the United States.
Full StoryThousands of doctors in England are staging their 11th walkout on Thursday in a long-running dispute with the government over pay and working conditions, disrupting hospital services just days before the U.K. general election.
The five-day strike by junior doctors — those in the early years of their careers — shines a spotlight on the troubles besetting the chronically underfunded National Health Service, Britain's state-funded public health system, a topic that is a a top concern for voters going to the polls on July 4.
Full StoryShares fell Thursday in most world markets ahead of a key U.S. inflation report due Friday that might point the way ahead for interest rates.
Hong Kong led the decline, falling more than 2%. U.S. futures also fell, while oil prices rebounded.
Full Story
Cash-strapped Sri Lanka said Wednesday it had clinched a restructuring deal with a majority of bilateral lenders covering up to $5.8 billion in debt, a key step towards recovery after a 2022 financial crash.
Full StoryThe U.S. Treasury Department said Tuesday it is imposing economic sanctions on 50 people and firms across Hong Kong, the United Arab Emirates and the Marshall Islands that have been acting as a "sprawling shadow banking network" for Iran's military.
Treasury's Office of Foreign Assets Control said the entities and individuals are involved in the sale of Iranian oil and petrochemicals, which have helped Iran's military and government gain illicit access to the international financial system.
Full StoryA global tax on the super-rich is proposed in a new report that Brazil commissioned for its current presidency of the leading 20 rich and developing nations.
Individuals with more than $1 billion in total assets would be required to pay the equivalent of 2% of their wealth in income tax, according to the proposal in the report by Gabriel Zucman, a French economist who teaches at the Paris School of Economics.
Full Story