Business Times - Business & Financial News, China & International ...
WEBThe U.S. Department of the Treasury revealed that, as of last Friday, the federal debt has surpassed $34 trillion, setting a new record. This amount equals 1.2 times the U.S. GDP. Moreover, this milestone was reached faster than expected. The Congressional Budget Office had forecasted this debt level wouldn't be hit until the fiscal year 2029.
Boeing to Cut 17,000 Jobs, Delay 777X Delivery as Strike Deepens ...
WEB21 hours ago · Boeing Co. is taking drastic measures to address its mounting financial challenges, announcing plans to cut 17,000 jobs-equivalent to 10% of its global workforce-and delay the first delivery of its 777X jet until 2026. The decision comes amid a debilitating strike by thousands of machinists that has severely impacted the aerospace giant's operations and financial stability. CEO Kelly Ortberg ...
China’s Stock Market Rallies on Stimulus Hopes, U.S. Inflation Data ...
WEB2 days ago · Economists polled by Reuters expect core inflation to hold steady at 3.2% year-over-year. Kenneth Broux, head of corporate research FX and rates at Societe Generale, highlighted the stakes, noting that the U.S. economic data could play a pivotal role in determining whether the Federal Reserve pursues additional rate cuts this year.
Hurricane Milton’s Aftermath: Widespread Destruction, Power …
WEB1 day ago · Hurricane Milton left a trail of devastation across Florida, claiming at least 16 lives and plunging over 2 million homes and businesses into darkness as communities struggle to recover from the powerful storm. Making landfall as a Category 3 hurricane near Siesta Key in Sarasota County on Wednesday night, Milton unleashed 120 mph winds, torrential rain, storm surges, and spawned dozens of ...
North Korea Warns of Forceful Retaliation Against South Korean …
WEB1 day ago · North Korea has issued a stark warning to South Korea, accusing its southern neighbor of flying drones over Pyongyang to distribute anti-North Korean propaganda leaflets. In a heated statement released on Friday, North Korea's Foreign Ministry declared that if such actions continue, it will respond with "all means of attack" without hesitation. The accusations have further escalated the ...
China's Emerging Tech Cities Lead Best-Performing Cities Index, …
WEBSep 5, 2024 · Beijing, Sept 4 - Hangzhou, Wuhan, and Jinan have claimed the top spots in the Milken Institute's 2023-2024 Best-Performing Cities Index, with Chinese cities that have strategically invested in emerging technologies showing resilience despite the country's real estate crisis and U.S. sanctions.. According to the report, the economic vitality and growth prospects of major Chinese cities have ...
Dollar Falters Ahead of Fed Rate Cut, Eyes on Potential 50 Basis …
WEBSep 17, 2024 · The U.S. dollar has been under increasing pressure as markets anticipate a significant shift in monetary policy from the Federal Reserve. As the Fed's decision on a potential rate cut looms, the dollar traded near its lowest levels of the year on Tuesday, with investors betting heavily on an aggressive easing cycle that could begin with a substantial 50 basis point reduction.
China Warns Japan of Severe Repercussions if Semiconductor …
WEBSep 3, 2024 · China has issued a stern warning to Japan over potential new restrictions on semiconductor equipment sales. The conflict centers around Japan's recent decision to tighten controls on exports of 23 types of chipmaking machinery, a move that aligns with broader Western efforts to curb China's access to advanced technology.
U.S. and Britain Accuse Iran of Supplying Missiles to Russia as ...
WEBSep 11, 2024 · Do not reproduce without permission. The United States and Britain formally accused Iran on Tuesday of supplying short-range ballistic missiles to Russia for use in the ongoing war in Ukraine, a significant escalation that has prompted calls for punitive measures against those involved.
James Comer Subpoenas DHS Chief Mayorkas Amid Allegations of …
WEBOct 1, 2024 · Comer's inquiry is fueled by claims from a whistleblower that a non-classified group chat among DHS personnel includes information pertinent to the investigation of Walz's ties to China. In a letter accompanying the subpoena, Comer stated, "The Committee has learned that further relevant information regarding Governor Walz has been memorialized ...
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