Business
U.S. employers add 187,000 jobs in July; unemployment dips to 3.5%
The U.S. job market has cooled over the summer. But it’s still strong enough to defy predictions that higher interest rates would tip the United States into recession. U.S. employers added 187,000 jobs last month, fewer than expected. But the unemployment rate dipped to 3.5% in a sign that the… Read
Toyota's new Land Cruiser '250' makes world premiere
Toyota Motor Corporation has unveiled the new Land Cruiser "250" Series to the world, with the launch planned for the first half of 2024 in Japan. Also announced last week was the heavy-duty Land Cruiser "70", which will make its return to Japan this coming winter as a regular model… Read
Amazon reports better-than-expected revenue and profits for 2Q, sending its stock higher
Amazon this week posted better-than-expected revenue and profits for the second quarter, sending its stock higher in after-hours trading. The e-commerce giant earned $6.7 billion, or 65 cents per share, for the three-month period ended June 30, much higher the $3.64 billion industry analysts surveyed by FactSet had anticipated. Amazon… Read
Car transport ship's Japanese owner to investigate Dutch fire
Japanese ship leasing company Shoei Kisen Kaisha, owner of the car carrier Fremantle Highway that caught fire off the Dutch coast last week, said on Friday it will investigate the cause of the incident in cooperation with relevant parties. The blaze broke out on July 26 as the Panama-registered ship… Read
Asian stocks mixed ahead of U.S. jobs update following British rate hike
Asian stocks markets were mixed Friday ahead of a U.S. jobs update that could influence interest rate plans after Britain’s central bank raised its key lending rate. Shanghai, Hong Kong and Seoul rose. Tokyo and Sydney declined. Oil prices advanced. Wall Street sank for a third day after the Bank… Read
Nintendo's profit jumps as Super Mario franchise gets a boost from hit film
Nintendo reported a 52% increase in net profit for the first fiscal quarter on Thursday following the success of its Super Mario movie and the new Zelda video game. Demand was strong for Nintendo Switch game software, which received a boost from the release earlier this year of the film… Read
Saudi Arabia extends cut of 1 million barrels of oil a day, potentially boosting prices at the pump
Saudi Arabia said Thursday it will extend its unilateral production cut of 1 million barrels of oil a day through the end of September in its effort to boost flagging energy prices, a move that could push U.S. gas prices higher. The Saudi reduction, which began in July, comes as… Read
Fitch downgrades U.S. credit rating, citing mounting debt and political divisions
Fitch Ratings has downgraded the United States government's credit rating, citing rising debt at the federal, state, and local levels and a “steady deterioration in standards of governance” over the past two decades. The rating was cut Tuesday one notch to AA+ from AAA, the highest possible rating. The new… Read
Starbucks reports record revenue as China booms, but sales still fall short of expectations
Starbucks has reported record revenue in its fiscal third quarter as its China business roared back to life. Still, the company’s results were mixed for the 13 weeks ending July 2. While its earnings surpassed Wall Street’s forecast, its revenue and same-store sales were lower than expected as North American… Read
Asian shares slip, echoing Wall Street's retreat from its rally
Asian shares dipped Wednesday after Wall Street took a step back from its big rally as markets tried to digest a slew of earnings. Japan's benchmark Nikkei 225 dove 2.1% in afternoon trading to 32,768.08. Australia's S&P/ASX 200 fell 1.3% to 7,356.60. South Korea's Kospi slid 1.7% to 2,620.74. Hong… Read
