Business
Thinking of buying a new pair of jeans? Breaking down the cost over time might help you decide
For Jake Welch, getting dressed is one big math problem. The 36-year-old brand director for an advertising firm calculates the cost-per-wear of his wardrobe by highlighting 200 items in a spreadsheet — excluding underwear and socks — and meticulously listing the price he paid for each of them as well… Read
UBS to pay $1.44 billion to settle 2007 financial crisis-era mortgage fraud case, last of such cases
UBS will pay U.S. authorities $1.44 billion to settle the last lingering legal case over Wall Street's role in the housing bubble of the early 2000s, which ultimately led to the 2008 financial crisis and Great Recession. The Swiss bank agreed to pay a civil penalty over how it handled… Read
Over 80% of Japan firms forecast economic growth as COVID curbs removed
Over 80 percent of major companies in Japan expect the country's economy to expand in the next one year, supported by a recovery in personal consumption following the removal of COVID-19 restrictions, a Kyodo News survey showed. In the survey of 114 companies, including Toyota Motor Corp. and the Uniqlo… Read
Mitsubishi Motors unveils all-new Xforce in Indonesia
Mitsubishi Motors Corp has debuted its all-new Xforce compact SUV at the 30th GAIKINDO Indonesia International Auto Show. The all-new model will be built at Mitsubishi Motors Krama Yudha Indonesia (Bekasi, West Java) and will be first rolled out in Indonesia, with launches planned for other ASEAN countries such as… Read
Yes, U.S. inflation is down. No, the Inflation Reduction Act doesn't deserve the credit
Even President Joe Biden has some regrets about the name of the Inflation Reduction Act: As the giant law turns 1 on Wednesday, it's increasingly clear that immediately curbing prices wasn't the point. While price increases have cooled over the past year — the inflation rate has dropped from 9%… Read
In the twilight of the muscle car era, demand for the new 486-horsepower V-8 Ford Mustang is roaring
New versions of the Mustang muscle car will begin shipping next week and more than two thirds of the orders include the big, 5-liter V-8 engine, Ford said Friday. Demand for roaring engines remains strong in an era when Detroit automakers are starting to phase out the rumbling gas burners… Read
How China is responding to economic challenges
China last week reported it had entered deflation for the first time since 2021 -- the latest indicator pointing to a slowdown in the world's second-largest economy. Here's how Beijing is attempting to reverse the downturn: Targeted stimulus During the global financial crisis of the late 2000s, China unveiled a… Read
China's first international cruise in 3 years sets sail from Shanghai
China's first international cruise in three years set sail on Friday, heading from Shanghai to Japan in a boost for the country's beleaguered cruise industry following the pandemic, state media reported. The Blue Dream Star sailed a day after China opened the way for more international travel by its citizens,… Read
Dollar briefly hits 1.5-month high at 145 yen in New York
The U.S. dollar briefly advanced to the 145-yen line in New York on Friday, a level unseen since late June, as a fresh rise in key U.S. long-term interest rates prompted dollar-buying and yen-selling. After hitting 145.00 yen, the dollar was quoted at 144.90-145.00 yen at 5 p.m. Friday, compared… Read
Virgin Galactic rockets its first tourist passengers into space
Virgin Galactic launched its first tourist passengers into the weightlessness of space Thursday, the culmination of a nearly two-decade commercial pursuit, the company said. The three passengers -- Jon Goodwin, Keisha Schahaff, and her teenage daughter Anastatia Mayers -- floated gravity-free through the Virgin spacecraft about 45 minutes after taking… Read
