Business

Residents across the Greater Toronto Area hoping to pick up groceries at Metro Inc. were greeted by closed doors and picket lines on Saturday as thousands of employees formally went on strike.  Agreement put forward ‘fair’ and ‘equitable,’ Metro says, but local union says it isn’t enough. Residents across the …

Global fast-fashion giant Shein is launching an online marketplace similar to Amazon. But with a controversial track record on labour rights and a massive environmental output, experts are asking: at what cost?  Fast-fashion giant launching global online marketplace, selling from 3rd-party vendors. Shein’s rapid growth raises environmental concerns The fast-fashion …

At a Glance Based on the Bureau of the Treasury report, the Marcos administration’s fiscal deficit from January to June this year was P551.7 billion, significantly lower by 28 percent than the set ceiling of P771.5 billion. The lower deficit was mainly attributed to reduced government expenditures of P2.412 trillion. …

WASHINGTON, D.C.: The US economy surprisingly accelerated to a 2.4-percent annual growth rate from April through June, showing continued resilience in the face of steadily higher interest rates resulting from the Federal Reserve’s (Fed) 16-monthlong fight to bring down inflation. Thursday’s estimate from the Commerce Department indicated that the gross …

Philippine stocks ended the week in the red, tracking the movement of the US markets. The 30-company Philippine Stock Exchange index slipped 52.66 points, or 0.79 percent, to close at 6,625.26, while the broader all-shares index also declined 20.08 points to 3,526.92. “Philippine equities tumbled on a mixed batch of …

The Bank of Canada says it’s trying to not raise interest rates more than it has to, as members of the governing council are mindful of the risks associated with raising rates too much.  Central bank issues summary of deliberations at their last meeting to decide on rate policy. The …

U.S. regulators unveiled a sweeping overhaul Thursday that would direct banks to set aside billions more in capital to guard against risk, which was immediately slammed by the industry as “misguided.”  Move would make lenders more stable, but come with added costs in a proposal banks call ‘misguided.’ U.S. regulators …

The U.S. Federal Reserve raised its benchmark lending rate by a quarter of a percentage point, to an upper limit of 5.5 per cent, on Wednesday — and left the door open to another increase, if necessary.  Central bank increases benchmark lending rate. The U.S. Federal Reserve raised its key …

The owner of Canada’s largest grocery and drugstore chains posted a quarterly profit of $508 million in the past three months, as sales across virtually all of its businesses continue to grow.  Company says growth is coming from discount space and its costs are also up. The owner of Canada’s …

WASHINGTON, D.C.: Lawmakers intent on reducing China’s influence on the US economy are pushing the Treasury Department to help curb the outsized role of Beijing at the Inter-American Development Bank, which supports economic and social development in Latin America and Caribbean. The bipartisan group of lawmakers say Beijing is using …