US airspace recovers as budget shutdown ends
Transportation Secretary Sean Duffy said Thursday that US air travel is recovering after the disruptions caused by the more than month-long government funding shutdown. “Yesterday was one of the best days our airspace had in a while with just a few air traffic controllers calling out from work,” he said on his X account on […]
Asian markets struggle as fears build over tech rally, US rates
Asian markets struggled Monday on simmering concerns that the Federal Reserve will not cut interest rates as hoped next month, while fears of a bubble continue to weigh on sentiment. The increasingly risk-averse mood on trading floors also dragged on the crypto sector, with bitcoin erasing all its gains this year — just over a […]
US to cancel flights as longest govt shutdown drags on
US officials said the scheduled capacity for flights was being cut by 10 percent in 40 busy air traffic areas nationwide on Friday, as the longest government shutdown drags on. Federal agencies have been grinding to a halt since Congress failed to approve funding past September 30, with some 1.4 million federal workers, from air […]
Drugmaker AstraZeneca profit jumps as US business grows
British pharmaceutical giant AstraZeneca announced surging quarterly profit Thursday on strong sales of cancer drugs and as the group zones in on the United States, pressured by President Donald Trump. Net profit jumped 77 percent to $2.53 billion in the third quarter compared with the July-September period one year earlier, AstraZeneca said in a statement. […]
US Fed official backed rate pause because inflation ‘too high’
A senior member of the US Federal Reserve on Friday said he voted against cutting interest rates this week because inflation was “too high” for comfort. Kansas City Fed president Jeff Schmid was one of two people who dissented on Wednesday’s vote, at which the US central bank backed a quarter percentage-point rate cut. The […]
US stocks rise to open big earnings week
Wall Street stocks rose early Monday as markets looked ahead to a heavy week of corporate earnings and monitored the positioning of political leaders on the US government shutdown. This week’s earnings calendar includes results from Netflix, Tesla and Procter & Gamble. A Factset analysis of earnings forecasts and results projected third-quarter growth of 8.5 […]
China sanctions five US units of South Korean ship giant Hanwha
China imposed sanctions on five American subsidiaries of South Korean shipbuilder Hanwha Ocean on Tuesday, accusing them of supporting a US government investigation into the shipping industry, as tit-for-tat port fees took effect. The United States announced in April it would begin applying fees to all arriving Chinese-built and operated ships after a “Section 301” […]
US federal workers apply for loans as shutdown hits military morale
Now into its second week, the US government shutdown has started impacting federal workers, prompting some to take out new loans to help make ends meet. Hundreds of thousands of federal employees have been furloughed since the shutdown began on October 1, while others deemed essential — including some military personnel — have been required […]
Amazon faces US trial over alleged Prime subscription tricks
Amazon goes to trial on Monday in a US government lawsuit that accuses the e-commerce giant of using tricks to enroll millions of customers in its Prime subscription service and then making it nearly impossible to cancel. The Federal Trade Commission’s complaint, filed in June 2023, alleges that Amazon knowingly used designs known as “dark […]
US to stop collecting emissions data from polluters
The United States moved on Friday to dismantle a “burdensome” federal program that tracks greenhouse gas emissions across the US economy, the latest step by President Donald Trump’s administration to undercut efforts against climate change. The Greenhouse Gas Reporting Program (GHGRP), launched in 2010, covers more than 8,000 facilities — including power plants, fuel suppliers, […]
