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Air Canada cancels flights over strike threat
Air Canada began cancelling flights on Thursday after receiving a strike notice from the flight attendants' union, warning all operations could be shut down by Saturday. Chief operating officer Mark Nasr told reporters Thursday that the airline had begun "a gradual suspension of Air Canada and Air Canada Rouge operations."
Germany sacks rail chief with train network in crisis
The German government sacked the embattled head of Deutsche Bahn on Thursday as it seeks to overhaul the ailing public rail network after years of criticism about deteriorating services. Once widely admired for its punctuality and efficiency, Germany's rail service has worsened dramatically in recent years owing to what critics say is chronic underinvestment.
US producer inflation highest in three years in July
US producer price inflation bounced in July to its highest reading since 2022, data showed Thursday, as policymakers seek to gauge effects from President Donald Trump's tariffs. "Input costs for producers jumped in July as price pressures for businesses build from compounding tariff impacts," said Nationwide senior economist Ben Ayers in a note.
Germany's Thyssenkrupp cuts targets as US tariffs weigh
Thyssenkrupp's shares slumped Thursday as the struggling German industrial giant slashed its sales forecasts due to weak demand amid US President Donald Trump's tariff onslaught. The group has long been struggling, particularly as its traditional steel business faces competition from Asia, but the turmoil triggered by Trump's tariffs have worsened its problems.
UK economy slows less than feared after tariffs
Britain's economy performed better than expected in the second quarter as it weathered the impact of US tariffs and a higher UK business tax, official data showed Thursday. Official data Wednesday showed UK unemployment at a four-year high of 4.7 percent in the second quarter.
Asian markets mixed as bitcoin surges to new high
Bitcoin hit a new peak during early Asian trading on Thursday, as the yen surged after the US Treasury Secretary said he expects Japan to hike interest rates. The Bank of Japan, which has long maintained a negative interest rate policy, began monetary tightening in 2024.
Eyeing robotaxis, Tesla hiring New York test car operator
Tesla is recruiting a motorist to test its driver-assistance technology in New York with an eye towards autonomous driving, according to a job listing reviewed by AFP on Wednesday.
NBA approves $6.1bn sale of Boston Celtics
The NBA on Wednesday approved the sale of the Boston Celtics to an investment group led by Bill Chisholm, five months after the deal worth a then-record $6.1 billion was agreed. "The NBA Board of Governors has unanimously approved the sale of the controlling interests in the Boston Celtics to an investor group led by Bill Chisholm," the league said in a brief statement.
Striking Boeing defense workers turn to US Congress
Boeing defense industry workers currently on strike asked for congressional lawmakers' support on Wednesday as they seek to pressure the aviation giant to improve its bargaining offer to the union.
AFP
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