Asian stocks follow Wall Street’s rate cut rally higher
HONG KONG — Asian stocks surged Friday with Japan’s Nikkei leading regional gains after Wall Street romped to records following the Federal Reserve’s big cut to interest rates. U.S. futures and oil prices were lower. The Bank of Japan ended…
Biden says Fed made ‘declaration of progress’ with interest rate cut
WASHINGTON — President Joe Biden said Thursday the Federal Reserve’s decision to lower interest rates was “an important signal” that inflation has eased as he characterized Donald Trump’s economic policies as a failure in the past and sure to “fail…
Boeing, striking union set to resume contract talks Wednesday
Boeing and its largest union will restart contract talks o Wednesday in the presence of federal mediators, after failing to agree on key issues such as wages and pensions, the International Association of Machinists and Aerospace Workers said. The union,…
Big Tech, calls for looser rules await new EU antitrust chief
Brussels — Teresa Ribera will have to square up to Big Tech, banks and airlines if confirmed as Europe’s new antitrust chief, while juggling calls for looser rules to help create EU champions. Nominated Tuesday by European Commission President Ursula…
Over 100 striking Samsung workers detained by Indian police for planning march
CHENNAI, India — Police on Monday detained 104 striking workers protesting low wages at a Samsung Electronics plant in southern India as they were planning a protest march without permission, with the dispute disrupting output at the key factory for…
Air Canada, pilots’ union reach tentative agreement to avoid shutdown
OTTAWA, Ontario — Air Canada and the union representing its pilots have come to terms on a labor agreement that is likely to prevent a shutdown of Canada’s largest airline. Talks between the company and the Air Line Pilots Association…
US Fed expected to announce its first interest rate cut since 2020
Washington — The Federal Reserve is gearing up to announce its first interest rate cut for more than four years on Wednesday, with policymakers expected to debate how big a move to make less than two months before the U.S….
China’s economy softens in August as Beijing grapples with lagging demand
BEIJING — China’s economy softened in August, extending a slowdown in industrial activity and real estate prices as Beijing faces pressure to ramp up spending to stimulate demand. Data published by the National Bureau of Statistics Saturday showed weakening activity…
Apple faces challenges in Chinese market against Huawei’s tri-fold phone
Taipei, Taiwan — The U.S.-China technology war is playing out in the smartphone market in China, where global rivals Apple and Huawei released new phones this week. Industry experts say Apple, which lacks home-field advantage, faces many challenges in defending…
White House takes aim at Chinese fast fashion
Washington — The White House said on Thursday it is acting on Democratic lawmakers’ demands to close what they see as a legal loophole that allows manufacturers — most from China — to dodge tariffs on low-priced goods and flood…