Canadian rail arbitration hearing ends without decision; strike looms
TORONTO — A workers’ union Friday threatened a strike at one of Canada’s two major freight railroads, only hours after the company’s trains restarted following a potentially devastating stoppage. A government-ordered arbitration hearing wrapped up without a decision, and Canadian…
Indonesia destroys $1.3M of illegal imports, cracks down on underground economy
Jakarta, Indonesia — Cellphones, electric pots and pans, and car washing machines were among goods worth $1.3 million destroyed Monday by the Indonesian Trade Ministry in West Java. Alcoholic drinks with an ethyl alcohol or ethanol content ranging from 5%…
Fed Chief: ‘The time has come’ to begin reducing interest rates
JACKSON HOLE, Wyoming — With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high, Chair Jerome Powell said Friday. Powell did not say when…
New EU deforestation regulations a challenge for Namibian farmers
Windhoek, Namibia — Namibia’s minister of agriculture has urged farmers in the Southern African country to look at alternative markets for its charcoal and beef products since the European Union, one of its largest trading partners, has implemented nontariff barriers…
Shein sues Temu over copyright infringements as legal feud heats up
Online fast-fashion giant Shein has filed another lawsuit against competitor Temu, accusing the China-founded shopping platform of stealing its designs, copying its product images and engaging in other types of fraud. The complaint filed in a Washington federal court this…
China questions, begins probe of European Union subsidies for dairy industry exports
China is opening an investigation into subsidies of dairy products imported from the European Union. The commerce ministry announced Wednesday that it will investigate subsidy plans created by the 27-member bloc as well as individual member states such as Austria,…
Seoul authorities find toxic substances in Shein and Temu products
Seoul — Women’s accessories sold by some of the world’s most popular online shopping firms contained toxic substances sometimes hundreds of times above acceptable levels, authorities in Seoul said Wednesday. Chinese giants including Shein, Temu and AliExpress have skyrocketed in…
Myanmar fighting blocks key trade route with China, impacting economy
Bangkok — Ethnic and resistance forces in Myanmar have completely blocked a key trade route to China, halting cross-border commerce and further damaging Myanmar’s already struggling economy. The Mandalay-Lashio-Muse Road is considered the most strategically important road in the country’s…
Powell may use Jackson Hole speech to hint at how fast and how far the Fed could cut rates
Washington — Federal Reserve officials have said they’re increasingly confident that they’ve nearly tamed inflation. Now, it’s the health of the job market that’s starting to draw their concern. With inflation cooling toward its 2% target, the pace of hiring…
India port workers to go on strike to demand better wages, benefits
CHENNAI — A group of Indian port workers’ unions has called for a strike from Aug. 28 to demand immediate settlement of pay revisions and pension benefits, according to a note signed by its members. A strike by India’s port…