Latest News

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  5:14

  Thai instant noodle makers seeking first price hike in 14 years

  Thai instant noodle makers petitioned the government on Tuesday to let them raise retail prices for the first time in 14 years, saying higher production costs have cut their returns.

• • Economics

  

  12:10

  China shocks with rate cut as data show 'alarming' slowdown

  China’s economic slowdown deepened in July due to a worsening property slump and continued coronavirus lockdowns, with an unexpected cut in interest rates unlikely to turn things around while those twin drags remain.

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  Rhine River gets too shallow in another crisis for European energy

  The Rhine River fell to a new low on Friday, further restricting the supply of vital commodities to parts of inland Europe as the continent battles with its worst energy crisis in decades.

• • Commodities

  

  7:07

  Russia resumes Nord Stream gas flow, bringing Europe respite

  Russia began sending natural gas to Europe through the Nord Stream pipeline system after a pause, bringing relief to a continent whose economy is starting to wobble under the strain of reduced supplies.

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  2:59

  Ousting of U.K. PM Boris Johnson won't affect ties with Canada, trade talks

  The Canadian government says the ousting of U.K. Prime Minister Boris Johnson by his party will not affect Canada's negotiations on a free-trade agreement.

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  Beer made from recycled toilet water wins admirers in Singapore

  “NEWBrew” is no ordinary beer. The new Singapore blond ale is made with recycled sewage.

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  7:01

  World's top restaurant Noma can't turn profit on US$700 lunch menu

  Noma, the Copenhagen restaurant which has repeatedly been voted the world’s best, lost money for the first time in four years in 2021 even after receiving COVID-19 support from the Danish government.

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  4:03

  G7 leaders favour LNG investment in U-turn due to energy crisis

  Investments in liquefied natural gas -- already booming as Europe seeks to cut its energy dependence on Russia -- are set to get another boost, even amid longstanding climate concerns.

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  4:03

  Russia slips into historic default as sanctions muddy next steps

  Russia defaulted on its external sovereign bonds for the first time in a century, the culmination of ever-tougher Western sanctions that shut down payment routes to overseas creditors.

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  Leonardo Del Vecchio, billionaire Ray-Ban owner, dies at 87

  Leonardo Del Vecchio, the Italian entrepreneur who started with a tiny optics workshop in the Dolomite mountains and ended up as the undisputed world leader in eyewear, has died. He was 87.

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  7:06

  Clean energy spend falls short of climate goals, IEA says

  Investments into renewable power are set to make up the bulk of spending on energy this year, but still won’t be enough for the world to achieve net-zero carbon emissions over the next three decades, according to the IEA

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  6:29

  Freeland, Yellen say they are working together to combat soaring global inflation

  Finance Minister Chrystia Freeland and U.S. Treasury Secretary Janet Yellen say the two countries are working together to combat rising inflation by ensuring supply chains are more resilient.

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  4:40

  Shippers with pollution-curbing equipment see huge fuel savings

  Ship-owners that invested in pollution-reducing equipment to let them burn dirtier fuel are enjoying massive discounts due to a supply glut.

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  6:47

  Travellers to U.S. will no longer need a COVID test as of June 12

  The Biden administration is lifting its requirement that all travelers test negative for coronavirus before flying to the US, amid pressure from airlines that viewed the measure as excessive and blamed it for depressing ticket purchases.

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  8:08

  New Ukraine ambassador calls European energy crisis an opportunity for Canada

  Ukraine's new ambassador to Canada says Canadian oil and gas companies can help in the fight against Russia by entering and expanding into the European market.

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  Second-richest Russian megayacht is back: Destination unknown

  A US$150-million ultra-luxurious superyacht tied to Russia’s second-richest citizen Leonid Mikhelson, who is facing sanctions, reappeared after nearly two weeks without broadcasting its location. Its final destination is unclear.

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  2:08

  U.S. to toughen enforcement of Russia, China export violations

  The U.S. plans to increase the penalties for companies violating rules that limit export of products that threaten national security, an effort recently focused on countries including Russia and China, according to a top Biden administration official.

• • Economics

  • Economics

  

  10:29

  Russia dodges default for now as investors get dollar funds

  Russia’s closely watched dollar payments on two bonds are trickling through to investors after the country dipped into its local holdings of the U.S. currency and sidestepped its first foreign default in a century.

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  8:44

  G-20 wrestles with response if Putin shows up at Bali summit

  Russia’s war in Ukraine is looming large over a Group of 20 summit that’s still seven months off, with officials frantically preparing in case President Vladimir Putin decides to turn up.

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  8:00

  Russia pays US$102M coupon, taking a step back from default

  Russia has made a US$102 million interest payment as the world’s biggest energy exporter continues to service its foreign bonds despite financial isolation after the invasion of Ukraine.

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  4:08

  Boeing’s tenuous recovery in China shaken by latest 737 crash

  Boeing faces a new crisis after a 737 jet fell out of the sky in China, renewing concerns about its best-selling family of planes and extending one of the most turbulent periods in the aviation titan’s century-long history.

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  2:59

  Russia’s debt at risk of nonpayment, S&P says in new rating cut

  S&P Global Ratings cut Russia’s credit score, saying the country’s debt is “highly vulnerable to nonpayment.”

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  6:09

  A list of Canadian companies cutting ties with Russia over invasion of Ukraine

  A number of Canadian companies have suspended or moved to withdrawal from Russia following its unprovoked invasion of Ukraine. Here is a partial list of those firms:

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  5:53

  Bombardier, Canadian Tire halt Russia-linked ops over Ukraine

  Bombardier and Canadian Tire have joined other Canadian companies in suspending their Russia-linked operations following country's unprovoked invasion of Ukraine.

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  6:53

  What's at stake for global economy as Russia standoff escalates

  Western nations are caught between the desire for harsh sanctions to deter Putin, and concern that they’ll suffer blowback themselves.

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  7:36

  French fry shortages go global on supply chain disruption

  Southeast Asian fast-food chains are being hit by a shortage of French fries as supply-chain snarls slow shipments of the frozen item from the U.S. and Europe.

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  Melinda French Gates will pivot US$11.4B fortune away from foundation

  Melinda French Gates will increasingly give away her fortune through philanthropies other than the US$50 billion Gates Foundation.

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  Canadian music investment firm buys publishing rights from Drake producer Murda Beatz

  Drake and Migos producer Murda Beatz is selling off publishing rights to hundreds of his songs to an upstart Canadian music investment fund.

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  6:44

  Ski resorts aim for more efficient snowmaking amid drought

  Snowpack in the U.S. West has decreased by about 20 per cent in the last century, making man-made snow more vital each year to opening ski resorts and fueling ski town economies as they head into an uncertain future

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  Strip-bar habit worth US$220,000 hangs over Swiss banker on trial

  The former head of a Swiss bank goes on trial Tuesday charged with enriching himself and others through millions of dollars in side deals and illegal expenses including racking up a 201,267 Swiss-franc (US$220,000) tab at a string of cabarets, strip clubs and “contact bars.”

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  Navy's US$13B carrier sows doubt that it can defend itself

  The combat system for the Navy’s newest and costliest warship, the US$13 billion Gerald R. Ford, “has yet to demonstrate that it can effectively” defend the aircraft carrier from anti-ship missiles and other threats, according to a new assessment by the Pentagon’s testing office.

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  6:48

  Chinese banks cut borrowing costs as PBOC signals easing

  Chinese lenders lowered borrowing costs for a second straight month after the central bank cut policy loan rates and pledged more easing to stabilize the economy.

• 

  6:14

  Global tourism about to rebound, luxury hotel operator says

  Global tourism is on its way to a “long-term, sustainable recovery” as more travelers and countries recognize the endemic nature of COVID-19

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  Rising costs add to pandemic pain for small businesses

  Sharply higher costs are yet another challenge thrown at business owners by the global pandemic. The unpredictability of shipping, labor and the coronavirus itself have created an environment where owners are often left guessing about when products might arrive and how much they'll cost.

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  5:55

  COVID pandemic may shift to endemic in 2022, Moderna chair says

  The pandemic could start moving into an endemic phase in 2022, though countries will need to stay vigilant as the omicron variant spreads, according to Moderna Inc. co-founder Noubar Afeyan.

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  LA port defers empty-box fee, seeks options to clear docks

  The Port of Los Angeles, the U.S.’s largest for container traffic, has deferred a plan to charge ocean carriers that fail to clear empty containers off the docks and is consulting with the logistics industry on alternatives on how to cut the backlogs.

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  4:28

  COVID loses most of infection capacity after 20 minutes in air

  Coronavirus loses most of its ability to infect shortly after being exhaled and is less likely to be contagious at longer distances, a study from the University of Bristol’s Aerosol Research Centre showed.

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  World Economic Forum warns cyber risks add to climate threat

  The World Economic Forum says cybersecurity and space are emerging risks to the global economy, on top of existing challenges posed by climate change and the coronavirus pandemic.

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  Sidney Poitier, actor who made Oscars history, dies at 94

  Sidney Poitier, the Academy Award-winning Black actor who experienced in life many of the racial stresses explored in his films, has died. He was 94.

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  U.S. SEC lays charges in insider trading scheme involving failed Aphria deal

  The U.S. SEC is charging 3 Florida residents for their alleged involvement in an insider trading ring that is believed to have netted millions of dollars in profits, including from tips tied to an ill-fated attempted takeover of Aphria