Global Glance: Nigeria officially in recession; Commercial flight from US to Cuba set

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Here are today’s top business headlines from across the nation and world:

Africa’s biggest economy officially enters a recession

LAGOS, Nigeria (AP) — Africa’s biggest economy is officially in recession. Nigeria released data on Wednesday showing its gross domestic product declined by 2.06 percent in the second quarter of the year. The oil- and import-dependent economy also declined by 0.36 percent in the first quarter. Nigeria has been slammed by low petroleum prices, attacks by oil militants and foreign currency shortages. Read more

Historic commercial flight from US to Cuba set to take off

FORT LAUDERDALE, Fla. (AP) — The first commercial flight between the United States and Cuba in more than a half century is scheduled to fly from Fort Lauderdale to the central city of Santa Clara on Wednesday morning, re-establishing regular air service severed at the height of the Cold War. JetBlue Flight 387 was set to take off at 9:45 a.m. EDT for a 72-minute journey that will open a new era of U.S.-Cuba travel, with about 300 flights a week connecting the U.S. with an island cut off from most Americans by the 55-year-old trade embargo on Cuba and formal ban on U.S. citizens engaging in tourism on the island. Read more

Weak Eurozone inflation bolsters case for more stimulus

BRUSSELS (AP) — Consumer price inflation in the eurozone was stuck at 0.2 percent in August, a low rate that could encourage the European Central Bank to offer more stimulus sooner rather than later. The figure reported Wednesday by statistics agency Eurostat was the same as in July and below economists’ expectations for an uptick to 0.3 percent. It also remains far short of the European Central Bank’s target of 2 percent. The main culprit was a 5.7 percent annual drop in energy prices. But inflation for other goods and services was also relatively weak. Read more

California farmworkers on edge over historic overtime bill

MENDOTA, Calif. (AP) — Many California farmworkers who make up the backbone of the nation’s No. 1 agricultural state were praising historic legislation that brings them closer to receiving the same overtime pay as the rest of the state’s workers who are paid by the hour. If signed into law by Gov. Jerry Brown, a new overtime bill would put California at the forefront nationally of farm labor pay and mark a victory in the fight to improve farmworkers rights in the decades old movement launched by Cesar Chavez, the legendary co-founder of the National Farm Workers Association who fought for higher farm worker pay. Read more

Abercrombie closing up to 60 stores after posting wider loss

NEW YORK (AP) — Abercrombie & Fitch Co. reported a wider loss for its second quarter on Tuesday and said it’s closing up to 60 stores in the United States as both U.S. and international sales fell. The teen-focused retailer also offered a downbeat outlook for a key sales measure, as business continues to be hurt by a decline in tourists to its flagships in key cities. The closures will represent about 8 percent of its store count in the domestic market. Abercrombie’s shares tumbled more than 20 percent in midday trading. Read more


Slim pickings: Without EU laborers, who’ll harvest UK fruit?

LONDON (AP) — British farmers may soon be unable to find workers for low-skilled but essential tasks like harvesting berries because of the U.K.’s vote to leave the European Union. British fruit and vegetable growers rely on seasonal workers from other EU countries to harvest their crops because local workers no longer want the poorly paid, physically demanding jobs that offer little security. EU citizens have the automatic right to work in any member state, and low-skilled east European laborers have helped fuel Britain’s economy since their countries joined the bloc in 2004. That labor supply is under threat after concerns about immigration drove the campaign to leave the EU. Read more


Vegas, Asian investors betting on Sin City’s Chinese tourism

LAS VEGAS (AP) — Sin City and Asian investors are going all in on Chinese tourism, as some of Las Vegas’ latest developments on and off the Strip target Chinese nationals and Chinese-Americans. The Chinese have been regulars along the resort corridor for decades. Now officials and developers, intent on capitalizing on burgeoning Chinese wealth and Asian-American population growth, are courting them in a major way. Nonstop flights from mainland China are planned for the first time, and two Asian-themed casinos will be among the first post-recession additions to Sin City’s glittering skyline. Read more


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