Business News Cuba

  • Cuba, Havana

    In perhaps the clearest sign yet that economic change is gathering pace in Cuba, the government plans to lay off more than half a million people from the public sector in the expectation that they will move into private businesses, reports the New York Times.

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  • Havana, Cuba

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  • Barclays.jpg

    A federal judge on Tuesday criticized Barclays’ $298 million deal with the U.S. authorities to settle charges of facilitating payments that violated sanctions against countries including Cuba and Iran. The FT reports.

  • A woman leaves a branch of Barclays Bank in central London, Monday, April 23, 2007. ABN Amro NV and Barclays PLC announced Monday they have agreed to merge, in the largest cross-border combination in European banking history. (AP Photo/Sang Tan)

    Barclays has agreed to pay $298 million over criminal allegations that it illegally engaged in financial transactions with banks in Cuba, Iran, Libya, Sudan and Burma, the Justice Department disclosed in court papers filed Monday.

  • Between 1960 and 1962, more than 14,000 Cuban children were secretly flown to the United States to escape Fidel Castro's regime. Parents said goodbye to their children not knowing if they would ever see them again. The airlift over the Florida Straits became known as Operation Peter Pan or Operación Pedro Pan in Spanish.It was supposed to be a democratic revolution when Fidel Castro came to power in Cuba. But Castro soon turned to communism and dictatorship. Rumors began to spread among the elit

    In the following pictures, we tell the story of some of the individuals — the Pedro Pans — who struggled, adapted and even prevailed under incredibly difficult circumstances.

  • Women carrying Cuban flag through Havana streets.

    Despite an economic embargo against Cuba that has existed for a half century, Americans and citizens of US allies routinely conduct business with the country, including trade and tourism.

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    It's hard to find a spare tire in Cuba these days, or a cup of yogurt. Air conditioners are shut off in the dead heat. Factories close at peak hours, and workers go without their government-subsidized lunches.

  • Fidel Castro

    Cuba has agreed to resume talks with the Obama administration on legal immigration of Cubans to the United States and direct mail service between the two countries, a State Department official said Sunday.

  • Plus, Cramer answers questions about secondary offerings and the banks and investors who may – or may not – benefit from them.

  • Fidel Castro

    Delsa Bernardo was ready to pop rolls in the oven at Yiya's Gourmet Cuban Bakery when she heard the news: After years of separation, she could finally visit her 80-year-old aunt in Cuba, any time she wanted.

  • President Obama's decision to ease US restrictions on Cuba sets a prospect for improving the 47-year-old US trade embargo on the island, potentially allowing American companies to gain access to a market that has been dominated by Europe and Canada.

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    On Monday President Obama eased the way for U.S. telecommunications firms to do business with Cuba. How does emerging markets trader Tim Seymour suggest playing it?

  • Sen. Barack Obama, D-Ill., answers a question during the first Democratic presidential primary debate of the 2008 election hosted by South Carolina State University in Orangeburg, S.C., Thursday, April 26, 2007. (AP Photo/J. Scott Applewhite)

    Thank you, Mr. President, for doing what should have been done long ago, by moving forward to open up diplomatic and trade relations with Cuba.

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    Cuba is still waiting for its offshore oil rush.  It has been four years since U.S. experts said the island may sit atop nearly 10 billion barrels of deep-sea oil, revealing for Cuba an enormous economic Catch-22.

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    Leading Russian oil companies pledged to help Cubapetroleo with prospecting, production, refining and other aspects of the oil industry under an agreement signed in Moscow on Friday before Cuban President Raul Castro's visit next week, Russian news agencies reported.

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    Also, the premeire trucking stocks, the best Cuba play and much more.

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    Trading the commodities bull run, post-Castro Cuba, Hewlett-Packard earnings and big-time after-hours action in Crocs.

  • Fidel Castro

    Ailing Cuban leader Fidel Castro said on Tuesday that he will not return to lead the country, retiring as head of state 49 years after he seized power in an armed revolution.

  • Michael Moore

    The tables have turned. Over the past couple of years I've been to a number of pharmaceutical industry related and drug company events--where the security and paranoia have been noticeably increased over what I referred to as "The Michael Moore Effect". Ever since it became known that the documentary filmmaker was setting his sites on healthcare the companies I cover have been on heightened alert. But, at least for now, I think they can let their guard down.