Business
Toyota to halt more lines in Japan over COVID disruptions in Vietnam
Toyota Motor Corp said Tuesday it will suspend another three assembly lines in Japan for several days in August due to supply chain disruptions caused by the spread of coronavirus infections in Vietnam. The latest suspensions will affect the production of around 5,000 vehicles, bringing the total number of vehicles… Read
IMF forecasts 6% global growth this year as economies reopen
The International Monetary Fund is sharply upgrading its economic outlook this year for the world’s wealthy countries, especially the United States, as COVID-19 vaccinations help sustain solid rebounds from the pandemic recession. But the 190-country lending agency has downgraded its forecast for poorer countries, most of which are struggling to… Read
Employers in U.S. have legal right to mandate COVID shots
The U.S. Department of Veterans Affairs. The state of California. New York City. Hospitals and nursing homes. Colleges and universities. Employers are putting COVID-19 vaccine mandates into place and it's getting attention. On Tuesday, President Joe Biden said a requirement is under consideration for all federal employees. But what happens… Read
Starbucks hits sales record as customers return to stores
Starbucks saw record sales in the third quarter as the impact of the pandemic receded and customers flocked to its stores. But the company's shares fell after it lowered its forecast for sales growth in China, its second-largest market outside the U.S. The Seattle-based coffee giant said its revenue soared… Read
Boeing set to face investor scrutiny as problems plague jets
The aviation industry appears to finally be past the worst of the coronavirus downturn, but Boeing's to-do list remains extensive following a messy start to 2021. The problems this year include electrical issues with the 737 MAX jet, fuselage troubles on the 787 and yet another delay in the timeframe… Read
Tesla reaches milestone with first $1 bil quarterly profit
Tesla's quarterly profit has surpassed $1 billion for the first time thanks to the electric car pioneer's ability to navigate through a pandemic-driven computer chip shortage that has caused major headaches for other automakers. The financial milestone announced Monday extended a two-year run of prosperity that has erased questions about… Read
Business travel stirs, but many road warriors stay grounded
Of the 2 million people clogging airport security lines and gate areas again each day, one crowd is still largely missing: business travelers. Their absence is noteworthy because they are a key source of revenue and profit, underpinning a record-breaking stretch of financial gain for U.S. airlines that ended with… Read
Asian stocks mostly lower after Wall Street highs
Shares were mostly lower in Asia on Monday, where Tokyo advanced while markets in Hong Kong and Shanghai fell sharply. Fresh news of regulatory moves against Chinese IT and education industry companies pulled shares lower in Hong Kong and Shanghai. In Japan, preliminary factory and service activity surveys showed a… Read
Going electric: Carmakers make the switch
Leading automakers have signalled their intention to scrap internal combustion engines by 2030 or cut back sharply on their production as the sector turns towards electric vehicles. The latest to unveil plans was German group Daimler, maker of Mercedes Benz and smart cars, which aims to be fully electric before… Read
Uber driver independence a bumpy road
Uber driver Mae Cee scoffs at the notion, touted by the global ride-share service, that she and her peers are self-employed contractors -- and that most of them are happy with the arrangement. In California, labor legislation endorsed by voters last November in a referendum, known as Proposition 22, effectively… Read
