World Business

Business News

Economy central for China’s new leadership

China is embarking on a once-per-decade leadership transition. The new crop of officials face tough questions on the economy

HONG KONG (CNNMoney) – China’s ruling Communist Party is preparing to shuffle its top ranks, an opaque process that will affect the country’s economy and stability for years to come. The transition, set to start just two days after Americans…

Venezuela seizes over a tonne of cocaine

Reverol, at left, said that the vehicle carrying cocaine came from neighbouring Colombia [GALLO/GETTY]

Venezuelan National Guard troops have seized a shipment of 1.4 metric tonnes of cocaine stashed in a compartment in a cargo lorry. Nestor Reverol, justice minister, announced Sunday’s bust on television, saying the lorry was stopped at a checkpoint in western Lara state.…

Kuwaiti security forces use tear gas at rally

Former MP Al-Tahous and supporters of Al-Barrak hold banners and shout supportive messages in Kuwait City

Kuwaiti riot policehave  used stun grenades, tear gas and smoke bombs against thousands of demonstrators who blocked a major road south of the capital. Thousands of opposition supporters planned a rally to protest against a new electoral law on Sunday.…

Hyundai, Kia to pay owners for overstated MPG

After an adjustment to reflect proper testing procedures, the EPA estimated highway fuel economy of a Hyundai Santa Fe Sport will drop from 28 to 26 miles per gallon.

NEW YORK (CNNMoney) – Korean automakers Hyundai and Kia overstated the fuel economy of many of their models, the U.S. Environmental Protection Agency announced Friday. In response, Hyundai and Kia said they will pay owners for additional fuel costs associated…