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International Business, a part of every day life, business, and a must add curriculum to any field of education!
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It's Not Just the Weather Freezing British Farms as Brexit Bites

It's Not Just the Weather Freezing British Farms as Brexit Bites | YGlobalBiz Education | Scoop.it
Plans to expand his family’s 150 acres (60 hectares) of strawberry patches in Herefordshire are now on hold. The U.K.’s decision to leave the European Union means growers like him don’t know if they’ll be able to attract the migrant labor they need to harvest their crops.


Ben DrummondSource: E.C. Drummond (Agriculture) Ltd.
“Most of our operations are manual as strawberries need to be planted and picked by hand,” he said. “We need flexibility to hire seasonal labor for our picking and packing.”

As the U.K. stumbles toward EU trade talks, growers have little idea how immigration rules, tariffs or farm subsidies will change. Food retailers like J Sainsbury Plc warn that a failure to agree on a free-trade deal could see perishables piling up at the border. Brexit uncertainty, and a weak pound, is already detering Europeans from coming to Britain for seasonal jobs, and forcing farmers to cut plans to expand or seek other ways to raise income.
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Unemployment Back to Precrisis Level in Rich Countries

Unemployment Back to Precrisis Level in Rich Countries | YGlobalBiz Education | Scoop.it
The Paris-based research body said the jobless rate for its 35 members fell to 5.6% from 5.7% in September, the same level as in April 2008. The OECD said it considers that month to be the last before the start of the global financial crisis.

However, with more people having joined the workforce over the last decade, the number of people without jobs remains 2.5 million above the precrisis figures.

There have also been big differences in the pace of recovery across developed economies. At 4.1% in October, the jobless rate in the U.S. was below its 5% precrisis level. By contrast, the eurozone’s jobless rate remained well above its precrisis level of 7.4%. That gap reflects the fact that whereas the U.S. jobless rate peaked in late 2009, the eurozone’s government debt and banking crisis delayed the bloc’s jobless peak until mid-2013.
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EU Officials Urge U.S. to Not Go It Alone on Mideast Peace Efforts

EU Officials Urge U.S. to Not Go It Alone on Mideast Peace Efforts | YGlobalBiz Education | Scoop.it
EU foreign- policy chief Federica Mogherini on Monday afternoon said the U.S. is an indispensable player in any peace processl but warned that Washington must secure international backing for its eventual proposals.

“There can be no illusion from the United States side that a United States initiative alone would be successful,” she said.
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Iraqi Kurdish President Steps Down After Independence Push Backfires

Iraqi Kurdish President Steps Down After  Independence Push Backfires | YGlobalBiz Education | Scoop.it
Masoud Barzani resigned Sunday as president of Iraq’s semiautonomous Kurdish region, a month after an independence referendum he orchestrated angered Baghdad, reversing years of political and military gains by the Kurds and dashing their dreams of statehood.
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U.S. Treasury Declines to Label China a Currency Manipulator

U.S. Treasury Declines to Label China a Currency Manipulator | YGlobalBiz Education | Scoop.it
he U.S. Treasury again declined to label China a currency manipulator, though it continued to criticize Beijing for its large trade surplus and restrictions on foreign investors.

“Treasury remains concerned by the lack of progress made in reducing the bilateral trade surplus with the United States,” the department said of China in its semiannual report on international exchange rates. “China should take concrete steps to level the playing field for American workers and firms.”

The Treasury Department’s report, released Tuesday, is the document in which Washington could formally criticize Beijing for manipulating the yuan lower in an effort to boost its exports. As a candidate, President Donald Trump said he would label China as a currency manipulator, but this is now the second of the semiannual reports in which his administration has declined to make the designation, a label that may have led to a deepening trade confrontation. The U.S. also is trying to encourage China to work with it in cracking down on trade and finance flows to North Korea.
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Nafta Negotiator Robert Lighthizer Takes Aim at Trading Partners and U.S. Business

Nafta Negotiator Robert Lighthizer Takes Aim at Trading Partners and U.S. Business | YGlobalBiz Education | Scoop.it
The resistance, countered Canadian Foreign Minister Chrystia Freeland, was in response to a “troubling” vision of change that would “turn back the clock on 23 years of predictability, openness, and collaboration” and in some cases would violate global trading rules.

Mexican Economy Minister Ildefonso Guajardo was more muted in his criticism, but in a later press briefing talked openly about the need for an alternative plan should the talks fall apart. Ms. Freeland did the same.
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The True State of Globalization: Not Dead, Not Completely OK

The True State of Globalization: Not Dead, Not Completely OK | YGlobalBiz Education | Scoop.it
“Global connectedness, measured by cross-border flows of trade, capital, information and people, surpassed its 2007 pre-crisis peak during 2014. In 2015, globalization’s post-crisis expansion slowed, but the data indicate that it did not go into reverse. Currently available evidence… suggests that the world was about 8% more connected in 2015 than in 2005.”

Information flows, measured by international internet traffic, telephone call minutes and trade in printed publications, has grown over 60% over this 10-year period.

Just because globalization has not gone into reverse, doesn’t mean that everything is OK. The US, UK and much of continental Europe are convulsed by a generalized, deep-felt anger against globalization whose political implications are hard to predict. Protectionist pressures could lead to tariffs and trade wars. Few are advocating that companies react by pulling back and going home. But, it’s a good time for companies to reevaluate their globalization strategy, including where and how to do business around the world.
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Indian Technology Workers Worry About a Job Threat: Technology

Indian Technology Workers Worry About a Job Threat: Technology | YGlobalBiz Education | Scoop.it
But the global tech industry is increasingly relying on automation, robotics, big data analytics, machine learning and consulting — technologies that threaten to bypass and even replace Indian workers. For example, automated processes may soon replace the kind of work Mr. Choudhari was performing for foreign clients, which involved maintaining software by occasionally plugging in simple code and analyzing data.

“What we’re seeing is an acceleration in shedding for jobs in India and an adding of jobs onshore,” said Sandra Notardonato, an analyst and research vice president for Gartner, a research and advisory company. “Even if these companies don’t have huge net losses, there’s a person who will suffer, and that’s a person with a limited skill set in India.”

Such job losses could be politically damaging to the government of Prime Minister Narendra Modi, who won an electoral mandate in 2014 on the promise of development and employment for a bulging youth population. In January, near the three-year mark of his administration, an economic survey reported that job creation had stalled.
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Troubled Air-Bag Maker Takata Files for Bankruptcy in Japan and the U.S.

Troubled Air-Bag Maker Takata Files for Bankruptcy in Japan and the U.S. | YGlobalBiz Education | Scoop.it
akata Corp. 7312 45.45% filed for bankruptcy protection in Japan and the U.S. and said it would sell most of its operations to a rival, capping the steep decline of an 84-year-old Japanese company nearly nine years after it began a global recall of rupture-prone automotive air bags.

At least 16 deaths and more than 180 injuries have been linked to the defect, which causes the air bags to explode with too much force and spray shrapnel into vehicle cabins.

What began as a limited recall in some parts of the U.S. in late 2008 expanded globally and would eventually grow to cover millions of vehicles. The recall of 42 million vehicles in the U.S. is the largest ever.
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WSJ City

"The City now more than ever must speak up for what it wants from the negotiations," said Catherine McGuinness, policy chairman at the City of London Corporation, as she called on the government to prioritise the economy in negotiations.
Change and uncertainty are the main challenges that City firms have had to deal with over the course of the last year. This has resulted in a lot of time and resources spent trying to solve countless complexities, the readying of contingency plans.

Catherine McGuinness
Policy Chairman at the City of London Corporation


McGuinness said the City has been "crystal clear" with that it wants: "mutual two-way market access, an early agreement on a transitional deal to help businesses avoid a cliff-edge, and maintaining the ability to hire the brightest and best from overseas."

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In the AI Age, “Being Smart” Will Mean Something Completely Different

In the AI Age, “Being Smart” Will Mean Something Completely Different | YGlobalBiz Education | Scoop.it
Andrew Ng has likened artificial intelligence (AI) to electricity in that it will be as transformative for us as electricity was for our ancestors. I can only guess that electricity was mystifying, scary, and even shocking to them — just as AI will be to many of us. Credible scientists and research firms have predicted that the likely automation of service sectors and professional jobs in the United States will be more than 10 times as large as the number of manufacturing jobs automated to date. That possibility is mind-boggling.

So, what can we do to prepare for the new world of work? Because AI will be a far more formidable competitor than any human, we will be in a frantic race to stay relevant. That will require us to take our cognitive and emotional skills to a much higher level.
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EU’s Barnier Hopes to Remove Brexit Uncertainties as Talks Begin

EU’s Barnier Hopes to Remove Brexit Uncertainties as Talks Begin | YGlobalBiz Education | Scoop.it
In short press statements, the EU’s chief negotiator, Michel Barnier, said he hoped Monday’s discussions can “identify priorities and timetable that would allow me to report…that we had a constructive opening of negotiations.”

“Our objective is clear. We must first tackle the uncertainties caused by Brexit,” he said.
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France polls: Macron's party wins clear parliamentary majority - BBC News

France polls: Macron's party wins clear parliamentary majority - BBC News | YGlobalBiz Education | Scoop.it
With nearly all votes counted, his La République en Marche, alongside its MoDem allies, won more than 300 seats in the 577-seat National Assembly.
The winning margin is lower than some expected, with turnout down from 2012.
The party was formed just over a year ago, and half of its candidates have little or no political experience.
The result has swept aside all of the mainstream parties and gives the 39-year-old president a strong mandate in parliament to pursue his pro-EU, business-friendly reform plans.
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Fears grow across the Atlantic over Brexit

Fears grow across the Atlantic over Brexit | YGlobalBiz Education | Scoop.it
Nearly all the possible trading relationships between Britain and the European Union following Brexit would be less favourable than staying in the European Union, according to an influential US think tank.
The Rand Corporation study said the worst option would be a "no deal".
That would leave the UK economy 4.9% poorer by 2029.
"No deal" would also have a negative effect on the EU economy, but it would be "relatively minor".
The report said that even a "soft Brexit" involving staying in the free market would not be as positive economically as staying in the EU.
Rand plays a significant role in America, with half of its funding coming from the US government.
In Europe it has advised the UK government on policy issues such as mental health, as well as the European Parliament and the European Commission.
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Three Arrested in Firebomb Attack on Swedish Synagogue

Three Arrested in Firebomb Attack on Swedish Synagogue | YGlobalBiz Education | Scoop.it
The attack took place after some 200 people rallied late Friday in the southern city of Malmo, yelling anti-Jewish slogans and waving Palestinian flags to protest U.S. President Donald Trump’s decision to recognize Jerusalem as Israel’s capital.

On Saturday, Swedish Foreign Minister Margot Wallstrom tweeted that those who called for Jews to be killed did something “totally unacceptable.”

Swedish Prime Minister Stefan Lofven and other top politicians condemned the incidents and authorities increased security around the synagogue and at Jewish centers in Stockholm and Malmo.
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Thousands Join Pro-Unity Rally Against Catalonia Independence

Thousands Join Pro-Unity Rally Against Catalonia Independence | YGlobalBiz Education | Scoop.it
BARCELONA—Hundreds of thousands of people gathered in Catalonia on Sunday in a show of unity with the rest of Spain, rejecting the declaration of independence made by Catalan separatists on Friday.

The rally, which took place in Catalonia’s capital, Barcelona, followed a similar demonstration held by unionists earlier this month that denounced the regional government’s push for a split from Spain after a controversial referendum.

Organizers of the gathering said it was attended by 1.3 million people, local police in Barcelona put the figure closer to 300,000.
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Spain Poised to Strip Catalonia of Powers

Spain Poised to Strip Catalonia of Powers | YGlobalBiz Education | Scoop.it
Carles Puigdemont, president of the region and leader of the separatist movement, warned in a letter to Mr. Rajoy that Catalonia’s regional assembly may formalize a unilateral declaration of independence if the prime minister refuses to negotiate Catalonia’s future outside of Spain.

In televised remarks, Íñigo Méndez de Vigo, a spokesman for the Spanish government, denounced Catalan leaders’ efforts to “deliberately and systematically seek an institutional confrontation despite the serious damage this is inflicting on the peaceful coexistence and economy in Catalonia.”

Moving to strip Catalonia of some powers is intended to “protect the general interest of Spaniards, including the citizens of Catalonia,” he added. Recent polls show a majority of Catalans don’t support secession.
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Trump Warns McCain: ‘I Fight Back’

Trump Warns McCain: ‘I Fight Back’ | YGlobalBiz Education | Scoop.it
WASHINGTON—President Donald Trump fired back at Sen. John McCain, one day after the Arizona senator took aim at the nationalist and isolationist rhetoric that has swept through the Republican party and is often championed by the White House.

“People have to be careful, because at some point I fight back,” Mr. Trump told The Chris Plante radio show when asked about a late Monday speech in which Mr. McCain condemned “half-baked, spurious nationalism cooked up by people who would rather find scapegoats” than solve problems.
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Central Banks Pull Back as Global Growth Picture Brightens

Central Banks Pull Back as Global Growth Picture Brightens | YGlobalBiz Education | Scoop.it
A synchronized global economic expansion is leading to a big shift in monetary policy around the world—toward central banks shrinking rather than growing—with implications for markets, inflation and the outlook for growth.

Following the financial crisis from 2007-2009, the world’s big central banks had been net buyers of financial assets in global markets, expanding their portfolios of government bonds, mortgage debt and corporate securities by 1% to 3% of global economic output per year for much of the past six years.

Now that’s changing. The Bank of England announced in February it would mostly end its bond purchases, the Fed stopped buying bonds at the end of 2014 and announced in September it would move ahead with a plan to gradually shrink its holdings, and the European Central Bank is expected to announce at the end of October it will slow its pace of purchases.
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Deal on Italian Banks Raises Questions about Eurozone Rules

Deal on Italian Banks Raises Questions about Eurozone Rules | YGlobalBiz Education | Scoop.it
The decision to create a banking union was the decisive moment in the eurozone’s response to the global financial crisis.

The establishment of common banking rules and oversight institutions were intended to help restore trust in a system badly shaken by concerns that weak national supervisors in thrall to local political pressures were colluding to hide from investors the full scale of bad debts. It also formed the centerpiece of a grand political bargain: By committing to sever the link between weak banks and over-indebted sovereigns, governments prepared the way for European Central Bank president Mario Draghi’s 2012 promise to do “whatever it takes” to save the eurozone, including buying government bonds.

Yet the decision over the weekend to spare two failed Italian lenders from the full force of those new rules raises questions about the banking union.
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EU Leaders Support Defense Cooperation Plan

EU Leaders Support Defense Cooperation Plan | YGlobalBiz Education | Scoop.it
BRUSSELS—European Union leaders backed a new defense cooperation plan Thursday, potentially allowing groups of member states to jointly purchase critical equipment or launch overseas missions together.

Critical details of the pact must still be agreed upon in coming months and defense experts warned the initiative could still collapse. But European officials and analysts said the deal, along with other defense initiatives, could open a new era of closer cooperation and more effective military spending in Europe.

European leaders made “real advances in the area of defense,” said French President Emmanuel Macron. “We’ve adopted a more comprehensive strategy.”
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Merkel Pledges to Push For Free Trade at G-20 Summit

Merkel Pledges to Push For Free Trade at G-20 Summit | YGlobalBiz Education | Scoop.it
“We will do everything in our power to achieve an agreement as broad as possible in Hamburg,” Ms. Merkel said.

“This isn’t easy given the new U.S. administration. And yet we have to make the effort,” she said at a conference hosted by the BDI Federation of German Industry.

The German chancellor warned against the lure of short-lived, short-term gains that more isolationist trade policies might bring to countries that pursue them.
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As Brexit Talks Start, U.K. Tensions Simmer

As Brexit Talks Start, U.K. Tensions Simmer | YGlobalBiz Education | Scoop.it
The British Prime Minister was already facing accusations that her robotic public demeanor and inability to connect with ordinary voters had cost the Conservative party its parliamentary majority in the June 8 general election. Now her bungled response to a deadly fire in a residential tower block in which at least 58 people died has reinforced doubts about her leadership.

Meanwhile, her inability so far to complete a deal to secure the parliamentary backing of Northern Ireland’s Democratic Unionist Party has raised further questions about her political skills. All this on the eve of the formal start of Brexit talks, the most consequential negotiations in Britain’s postwar history, which start Monday.
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Amazon, Whole Foods, and the Future of the (Old) New Economy

Amazon, Whole Foods, and the Future of the (Old) New Economy | YGlobalBiz Education | Scoop.it
I heard the news today, oh boy — Amazon is buying Whole Foods Market in a deal worth nearly $14 billion. The combination of these iconic companies, both of which have come of age in the last two decades, raises obvious questions. Does the transaction reflect how hard it’s been for Whole Foods to keep Wall Street satisfied with its growth and profits? (It does.) Does the deal underscore just how expansive a vision Jeff Bezos has for Amazon, his dream of it becoming the “everything store”? (No doubt.)

To me, though, the much more profound question, both substantively and symbolically, is what the deal says about the future of an approach to business, branding, and organizational culture that Whole Foods and Amazon have come to represent. In a nutshell, does this deal signal the beginning of the end for the so-called new economy, or is it more like the end of the beginning? Is it a sign of strength for those of us who believe there are smarter, saner, more sustainable ways to create economic value and build organizations based on humane values, or is it a warning sign? What lessons can we draw about what it takes to turn progressive ideas about business strategy and practices into enduring businesses?
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