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In US capital, Trump tariffs bite into restaurant profits
Brazilian coffee beans, French champagne and Chinese teas -- drinks are a profit driver for US restaurants, but higher import costs have eaten into margins and fed into consumer prices in the three months since President Donald Trump unveiled sweeping global tariffs.
Trump says Vietnam to face 20% tariff under 'great' deal
President Donald Trump announced Wednesday that he had struck a trade deal with Vietnam under which the country would face a minimum 20 percent tariff and open its market to US products.
US senator urges bribery probe over Trump-Paramount settlement
A US senator renewed calls Wednesday for a bribery probe into Paramount following its reported $16 million settlement with President Donald Trump over a lawsuit the entertainment giant initially described as meritless.
Tesla reports lower car sales but figures better than feared
Tesla reported another hefty drop in auto sales Wednesday, extending a difficult period amid intensifying electric vehicle competition and backlash over CEO Elon Musk's political activities. But Musk's political activism on behalf of right-wing figures has also made the company a target of boycotts and demonstrations, weighing on sales.
UK govt backs finance minister after tears in parliament
The British government said Wednesday that finance minister Rachel Reeves was "going nowhere" after she appeared visibly upset in parliament as rumours swirled around her future. It came after Starmer's Labour government U-turned over key welfare reforms, wiping out a multibillion-pound boost to public finances and triggering speculation that Reeves could lose her job.
US private sector shed jobs for first time in recent years: ADP
The US private sector unexpectedly lost jobs in June, according to data from payroll firm ADP on Wednesday, a potential sign of labor market weakness amid uncertainty from President Donald Trump's tariffs.
French court convicts ex-Ubisoft bosses for workplace harassment
A French court sentenced three former Ubisoft executives on Wednesday to suspended prison terms for enabling a culture of sexual and psychological harassment at the gaming giant. For his part, former chief creative officer Serge Hascoet was given an 18-month suspended sentence for psychological harassment and complicity in sexual harassment.
Public or private? Funding debate splits reeling aid sector
As cuts by rich donors decimate aid budgets for the world's most vulnerable, private financing has been touted as the sector's saviour -- but not everyone is convinced. - 'Investor whitewash' - Campaigners have criticised rich countries for pushing private finance over public sources of aid, citing a lack of accountability and debt issues.
Hong Kong to regain IPO crown this year, say PwC and Deloitte
Hong Kong is expected to lead the world in IPO financing this year despite uncertainty from geopolitical tensions and trade tariffs, accountancy giant PwC said on Wednesday.
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