US firms brace for more tariffs as election approaches

From holding back investments to considering moving abroad, businesses in the United States are bracing for more economic turbulence as the presidential campaign kicks into high gear -- with fresh tariffs rolled out and promises of more.
13 October 2024, 18:00 PM

HSBC cost cuts expose new CEO’s bigger problem

There’s always a case to be made for cost cuts at HSBC. The $160 billion lender employed 214,000 people in June and arguably suffers from duplication across its different bits. Still, new CEO Georges Elhedery has a much bigger job than finding the modest savings that he is reported to be eyeing. Growth is the bank’s key challenge.
13 October 2024, 18:00 PM

Vietnam, China to expand rail links, cross-border payments

The two sides also signed a memorandum of understanding (MoU) on the implementation of cross-border payment services via QR codes and an agreement to study a model for an "economic cooperation zone" across their border
13 October 2024, 08:52 AM

Amazon wants to be everything to everyone

Innovations unveiled in recent days by the Seattle-based tech titan included a delivery van computer system to shave time off deliveries by its speed-obsessed logistics network
13 October 2024, 06:31 AM

China consumer prices rise at slower rate in September

The consumer price index (CPI), a key measure of inflation, rose 0.4 percent year-on-year in September, down from the 0.6 percent recorded in August, the National Bureau of Statistics (NBS) said
13 October 2024, 05:58 AM

US firms brace for more tariffs as election approaches

US tariffs weigh on many industries. The American Apparel & Footwear Association (AAFA) estimates retail prices have risen five percent to 10 percent annually since 2020
13 October 2024, 04:56 AM

Tariffs, tax cuts, energy: What is in Trump's economic plan?

Ahead of November's election, economists warn his policies could raise consumer prices and shake up global trade -- with unclear benefits to US production
13 October 2024, 04:47 AM

Oil settles down

Oil prices settled lower on Friday but rose for the second straight week as investors weighed factors such as possible supply disruptions in the Middle East and Hurricane Milton’s impact on fuel demand in Florida.
12 October 2024, 18:00 PM

Boeing to cut 10% of workforce as it sees big Q3 loss

Boeing announced that it plans to cut 10 percent of its workforce as it projected a large third-quarter loss amid a machinist strike in the Seattle region.
12 October 2024, 18:00 PM

US consumer inflation eases to 2.4% in September

US consumer inflation cooled last month -- though slightly less than expected -- according to government data published Thursday, providing further evidence that price pressures are easing ahead of November’s presidential election.
12 October 2024, 18:00 PM

EU chief says China must ‘adapt its behaviour’ to solve trade row

China must “adapt its behaviour” to solve an escalating tariff row with Europe, EU chief Charles Michel told AFP Friday, warning of the dangers of the dispute escalating into a full-blown trade war.
12 October 2024, 18:00 PM

Russian inflation slows in Sept but still elevated

Inflation ticked lower in Russia in September but was still more than double the central bank’s target, as huge spending on the Ukraine conflict kept upward pressure on prices, official data showed Friday.
12 October 2024, 18:00 PM

IMF approves changes to cut borrowing costs by 36%

The IMF approved reforms on Friday that will lower members’ borrowing costs by 36 percent and lift eight indebted countries out of the requirement to pay more to borrow money.
12 October 2024, 18:00 PM

China tees up fresh spending to boost ailing economy

China said Saturday it would issue special bonds to help its sputtering economy, signalling a spending spree to bolster banks, shore up the property market and ease local government debt as part of one of its biggest support packages in years.
12 October 2024, 18:00 PM

India’s 100 richest tycoons surpass $1tn milestone

The collective wealth of India’s 100 richest tycoons surpassed the trillion dollar milestone for the first time as more than 80 per cent of the country’s richest tycoons are now wealthier than they were a year ago, a Forbes report showed on Thursday.
12 October 2024, 18:00 PM

Russia sets price floor for wheat at int’l tenders

Russia’s agriculture ministry asked exporters at a closed-door meeting on Friday not to sell wheat by tender to international buyers below a minimum price, two sources with direct knowledge of the matter told Reuters.
12 October 2024, 18:00 PM

UK economy returns to growth in August after two months of stagnation

Economic output rose by 0.2 percent in monthly terms in August, according to figures from the Office for National Statistics that were in line with expectations in a Reuters poll of economists
12 October 2024, 10:13 AM

Russia sets price floor for wheat at international tenders, sources say

Russia's Grain Exporters Union said in a statement after the meeting the ministry also told exporters to engage in direct deals with buyers without third parties, as well as not to provide Russian grain to foreign firms that won international tenders below the new price floor
12 October 2024, 07:55 AM

Working from home is powering productivity

Working from home (WFH) increased about tenfold following the outbreak of the pandemic and has settled in at about five times its prepandemic level
12 October 2024, 05:46 AM

IMF board approves changes to cut borrowing costs by 36%

The suite of changes agreed to by the International Monetary Fund's executive board include adjustments to the surcharges paid by countries with high levels of debt, like Ukraine and Argentina, the Washington-based institution announced in a statement
12 October 2024, 05:27 AM