Business

HONG KONG: Hong Kong carrier Cathay Pacific on Wednesday swung to a healthy profit in the first half of the year, thanks to a pickup in travel, with the airline expecting passenger capacity to reach 70 percent of pre-pandemic levels by end of the year. TAKING OFF This photo taken …

WASHINGTON, D.C.: Inflation in the United States likely rose in July for the first time in 12 months, driven higher by more expensive gasoline and suggesting that the fight against rising prices may prove bumpier in the months ahead. The inflation report the government will issue on Thursday is expected …

BURBANK, California: In his dry cleaning shop near the Warner Bros. and Disney studios, Tom Malian looks in despair at a carousel mostly empty of the shirts, jackets and pants it held before Hollywood went on strike. Film and TV production ground to a halt 100 days ago when writers …

Grocery chain Metro Inc. says its profits surged in its latest quarter, fuelled by higher sales.  Higher profits come as company deals with 3,700 striking workers at locations around Toronto. Grocery chain Metro Inc. says its profits surged in its latest quarter, fuelled by higher sales. In the quarter ended …

NEW YORK CITY: WeWork is warning there’s “substantial doubt” about its ability to stay in business over the next year because of its financial losses and its need for cash, among other factors. The New York-based workspace-sharing company said on Tuesday that its ability to stay in operation is contingent …

Elon Musk says he may need to get surgery before a proposed “cage match” with Mark Zuckerberg.  Tech billionaires have been taunting each other about a ‘cage match’ for weeks. Elon Musk says he may need to get surgery before a proposed “cage match” with Mark Zuckerberg. The two tech …

The company whose name became synonymous with remote work is joining the growing return-to-office trend as Zoom is asking workers who live within 80 kilometres of a Zoom office to head into it at least two days a week.  Employees unhappy with new policy asked questions during Zoom meeting last …

BEIJING: China last month suffered its biggest fall in exports for more than three years, official data showed on Tuesday, as the world’s second-largest economy is battered by sluggish global demand and a domestic slowdown. The data will likely ramp up calls for leaders to do more to revive growth, …

TOKYO: Japanese investment giant SoftBank Group reported on Tuesday a surprise net loss of more than $3 billion in the first quarter as it was hit by a drop in the share prices of major holdings as well as a weaker yen. The firm has made huge bets to find …

SAN FRANCISCO, United States —PayPal on Monday launched a stablecoin digital currency backed by US dollars to be used for transactions at its global online payments platform. PayPal USD is issued by Paxos Trust Company and backed by dollar deposits and similar cash holdings, the online payments giant said in …