World News
Luxury sales slump in China as tax crackdown hits wealthy shoppers
Sales at the 25 biggest luxury labels in China dropped more than 10% in July, according to three research firms surveyed by Bloomberg that track industry data
 "Luxury sales slump in China as tax crackdown hits wealthy shoppers")
South Korea ship to test Arctic commercial route amid Western concerns
President Lee Jae Myung has made Arctic shipping a priority for South Korea, a shipping powerhouse
 "South Korea ship to test Arctic commercial route amid Western concerns")
US hits Canadian goods with 50% tariffs, Mark Carney vows to retaliate
The US tariffs kicked in Saturday on hundreds of items the US buys from Canada, such as plywood, liquor, electrical equipment and hockey gear, totaling around $20 billion
 "US hits Canadian goods with 50% tariffs, Mark Carney vows to retaliate")
Tesla recalls nearly 3 mn vehicles in China over door handle safety risks
China has stepped up scrutiny recently on hidden, or flush, car door handles following EV accidents, in which cars' hidden electronic doors failed and trapped people inside
 "Tesla recalls nearly 3 mn vehicles in China over door handle safety risks")
US set to impose 50% tariffs on Canadian goods as trade negotiations fail
Canada's Prime Minister Mark Carney said he had suspended trade negotiations and Canada would retaliate dollar for dollar on the new tariffs
 "US set to impose 50% tariffs on Canadian goods as trade negotiations fail")
2 injured in stabbing at Canada's Edmonton gurudwara, suspect arrested
The incident took place at Nanaksar Sikh Gurdwara in northeast Edmonton, the suspect entered the gurdwara and attempted to access the prayer area
 "2 injured in stabbing at Canada's Edmonton gurudwara, suspect arrested")
Apple cuts jobs in Siri, Vision Pro immersive video, and gaming teams
Apple is also laying off employees in its Intelligent Systems Experience, a team within its software engineering organisation responsible for some of the AI features on its devices
 "Apple cuts jobs in Siri, Vision Pro immersive video, and gaming teams")
Trump says Canada trade deal moving forward, announces talks on Mexico pact
Trump said the proposed agreement with Canada would focus on protecting American farmers, who he said had been affected by previous trade arrangements
 "Trump says Canada trade deal moving forward, announces talks on Mexico pact")
Trump loyalist Ed Martin leaves DOJ to focus on election legal battles
Trump said in a social media post that Martin is leaving his role as the Justice Department's pardon attorney to "fight Legal Battles" surrounding this year's midterm elections and the 2028 presidenti
 "Trump loyalist Ed Martin leaves DOJ to focus on election legal battles")
US SC allows Trump's $400 mn White House ballroom work to continue for now
The administration has argued that the president has total authority to renovate the White House and other federal buildings as he sees fit and that the ballroom project must be completed
TikTok reaches $400 mn settlement with US DOJ over children's privacy
The DOJ said Friday that TikTok will pay $300 million immediately and another $100 million after an order vacates an earlier consent decree against its predecessor company, Musical.ly
 "TikTok reaches $400 mn settlement with US DOJ over children's privacy")
US plans to pay $850 million of $5 billion it owes United Nations
The US is behind on about $ 5 billion in dues related to its UN membership, with more than $ 2 billion owed toward the regular budget and $ 3 billion for peacekeeping operations
 "US plans to pay $850 million of $5 billion it owes United Nations")
Trump calls Hormuz 'US territory', says Iran will never have nuclear weapon
Addressing a rally in Myrtle Beach, South Carolina, Trump said, "We cannot let them have a nuclear weapon; we cannot let Iran have a nuclear weapon, or you will see some very bad things
 "Trump calls Hormuz 'US territory', says Iran will never have nuclear weapon")
South Korea plans chip windfall fund to back youth, AI investment
The proposed "Future Response Fund" would finance programmes aimed at helping young people find jobs, buy homes and start families, while also supporting investments in AI, more
 "South Korea plans chip windfall fund to back youth, AI investment")
How the AI borrowing binge helps drive US government bond yields
Analysts said the recent rise in Treasury yields partly reflected expectations that AI-driven growth could push the Fed to keep rates elevated.
 "How the AI borrowing binge helps drive US government bond yields")
Mirza Fakhrul Islam Alamgir takes oath as Bangladesh's President
Alamgir, 78, a longtime secretary general of the ruling Bangladesh Nationalist Party (BNP), was administered the oath of office by Jatiya Sangsad (Parliament) Acting Speaker Kayser Kamal
 "Mirza Fakhrul Islam Alamgir takes oath as Bangladesh's President")
China moves to wrap up saga of troubled property giant Evergrande
A court in southern China's Guangzhou said Friday it had accepted a bankruptcy liquidation case against Evergrande's mainland Chinese property development unit
 "China moves to wrap up saga of troubled property giant Evergrande")
Samsung Electronics expects shareholder returns up to $80 billion this year
Samsung Electronics also said on Friday it has bought back shares worth 15 trillion won for employee stock bonuses.
 "Samsung Electronics expects shareholder returns up to $80 billion this year")
Iran vows 'devastating' response as US threatens toughest ever economic hit
The chief of staff of Iran's Armed Forces, Major General Ali Abdollahi, said the Islamic Republic's reaction would be broad and decisive.
 "Iran vows 'devastating' response as US threatens toughest ever economic hit")
No decision yet on PM Tarique Rahman's visit to India: B'desh govt official
The South Asian neighbours have been in talks for weeks regarding Rahman's first trip to New Delhi since taking office in February
 "No decision yet on PM Tarique Rahman's visit to India: B'desh govt official")