World Business

Washington—China’s slowdown, volatile financial markets and tumbling prices of raw materials have raised the risks to economic growth around the world, the International Monetary Fund (IMF) reported last Wednesday (last Thursday in Manila). 

Washington—US busi- nesses added jobs at a steady pace last month, with construction and manufacturing showing solid gains, a private survey found. 

Washington—The head of the New York Federal Reserve Bank (NY Fed) said he’s less inclined to support a Fed rate hike in September amid recent global turmoil, including falling oil prices and a slowdown in China. 

New York—This probably isn’t what the United Nations had in mind when it established the International Day of Peace: Burger King is asking McDonald’s to join forces to create a “McWhopper.” 

Washington—United States Federal Reserve (the Fed)officials appeared to edge closer last month to a decision to raise interest rates as early as September. At the same time, officials remained concerned about low inflation, sluggish wages and a sharp slowdown in China—factors that will help determine whether they raise rates next month. 

Athens, Greece—Greece was receiving the first 13 billion-euro ($14.5-billion) payment of its new bailout, with 12 billion euros earmarked for repaying debts and the remainder for settling arrears to public sector suppliers. 

Kuala Lumpur—Malaysia’s central bank said there is no need for “extreme measures,” such as pegging the currency or capital controls, to halt a slide in the ringgit. 

Jakarta, Indonesia—Indonesia’s president announced a Cabinet reshuffle, replacing key economic ministers with the aim of speeding up infrastructure spending to revive sputtering growth and stabilize the sliding rupiah. 

Hong Kong—China’s unexpected move last week to lower the value of its tightly-leashed currency, the yuan, sent shockwaves through global financial markets. The impact on consumers around the world and China’s neighbors will take longer to play out, but possible winners and losers are already emerging. 

Washington—Republican presidential candidate Donald Trump vows to bring back the millions of American jobs lost to China and other foreign competitors if voters put him in the White House.