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Business
Australian court fines Qantas $90 million for illegal layoffs
An Australian court fined Qantas Aus$90 million (U.S.$59 million) on Monday for illegally laying off 1,800 ground staff during the COVID-19 pandemic, ending a five-year legal battle over the workers' rights. Federal Court Justice Michael Lee said he wanted the penalty to be a "real deterrence" to firms that might… Read
Fatal explosion at U.S. Steel's plant raises questions about its future, despite heavy investment
The fatal explosion last week at U.S. Steel's Pittsburgh-area coal-processing plant has revived debate about its future just as the iconic American company was emerging from a long period of uncertainty. The fortunes of steelmaking in the U.S. — along with profits, share prices and steel prices — have been… Read
Air Canada suspends plan to resume flights as union vows to continue strike
Air Canada on Sunday suspended its plan to resume flights over a strike by flight attendants that has effectively shut down the airline and snarled summer travel for its passengers around the world. The announcement came despite the country's industrial relations board ordering an end to the strike by around… Read
Vietnam wants to be next Asian tiger and it’s overhauling its economy to make it happen.
Beneath red banners and a gold bust of revolutionary leader Ho Chi Minh in Hanoi's central party school, Communist Party chief To Lam declared the arrival of “a new era of development” late last year. The speech was more than symbolic— it signaled the launch of what could be Vietnam’s… Read
Retail sales in U.S. rise a solid 0.5% in July from June as shoppers appear to shrug off tariff pressures
Shoppers spent at a healthy pace in July, particularly at the nation’s auto dealerships, as they appear to shrug off President Donald Trump's tariffs, which are starting to take a toll on jobs and lead to some price increases. Retail sales rose a solid 0.5% last month, and June spending… Read
Japan's economy grows annualized real 1.0% in April-June
Japan's economy grew an annualized real 1.0 percent in the April-June period, marking the fifth consecutive quarterly expansion, helped in part by solid capital investment, though weak consumer spending continued to drag on growth, government data showed Friday. In the second quarter of 2025, gross domestic product adjusted for inflation… Read
China's economy lags in July under pressure from tariffs and a weak property market
China's economy showed signs of slowing in July as factory output and retail sales slowed and housing prices dropped further, according to data released Friday. Uncertainty over tariffs on exports to the United States is still looming over the world's second-largest economy after President Donald Trump extended a pause in… Read
Japan posts modest growth in 2nd quarter despite U.S. tariffs
Japan eked out modest growth in the second quarter despite painful U.S. tariffs, official data showed Friday, in welcome news to embattled Prime Minister Shigeru Ishiba. A preliminary estimate showed gross domestic product (GDP) in the world's number four economy growing 0.3 percent in the three months to June, above… Read
U.S. producer prices surge in July as Trump tariffs push costs higher
U.S. wholesale inflation surged unexpectedly last month, signaling that President Donald Trump’s sweeping taxes on imports are pushing costs up and that higher prices for consumers may be on the way. The Labor Department reported Thursday that its producer price index — which measures inflation before it hits consumers— rose… Read
Kellogg says it will remove artificial dyes from cereals by the end of 2027
WK Kellogg Co. plans to remove artificial dyes from its breakfast cereals in the next two and a half years, according to the company and the attorney general of Texas. The maker of Froot Loops and Apple Jacks gave the timeline as U.S. food producers face increasing pressure from the… Read
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