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Lululemon Accused of Greenwashing Environmental Goals, Impact

Lululemon Athletica Inc. tricks consumers into believing the brand is sustainable and environmentally-friendly through its Be Planet marketing campaign, despite increasing its greenhouse gas emissions, a proposed class action filed Friday alleged.


Pakistan and IMF reach $7bn aid deal

Pakistan and the International Monetary Fund reached a three-year, $7 billion aid package deal, the Washington-based institution said on Friday. The new programme, which must be validated by the fund's executive board, should enable Pakistan to “cement macroeconomic stability and create conditions for stronger, more inclusive and resilient growth”,...


Argentina halts monetary base expansion to lower inflation, says minister

BUENOS AIRES (Reuters) - Argentina will cease expanding its monetary base as part of the government's campaign to combat inflation, Economy Minister Luis Caputo said on messaging platform X on Saturday. "From now on the amount of money remains the same or is reduced if the central bank (BCRA) sells dollars" in the official exchange market known as the MULC, Caputo wrote. "If the BCRA buys


Costco is a master at building customer loyalty

Costco has built up a loyal following of shoppers over the decades it's been operating.


Chances of finding survivors slim after Nepal landslide, official says

KATHMANDU (Reuters) - Rescuers in Nepal searched on Saturday for 51 passengers and crew who went missing after a landslide swept their buses into a river swollen by heavy rain, an official said, adding that the chances of finding any survivors were diminishing. Some 500 rescuers resumed their search of the site of Friday's incident in Chitwan district, about 86 km (53 miles) west of the capital


EV Maker VinFast to Delay Opening of US Factory by Three Years

VinFast Auto Ltd. said it will delay the opening of its electric vehicle factory in North Carolina by three years to 2028, adding to the Vietnamese company’s challenges of becoming a global brand.


As Argentine inflation cools to single digits, residents are still skeptical

By Miguel Lo Bianco and Noelle Harff BUENOS AIRES (Reuters) -Argentines say they are yet to feel the benefits of cooling inflation, as a five-month streak of slowing prices ended when official data on Friday showed inflation in June was higher than in May. Since President Javier Milei took power late last year, inflation has slowed dramatically in Argentina, decelerating from 25.5% in December


Egypt lowers 2025 wheat self-sufficiency target to 51%

The government buys wheat internationally and locally in order to offer tens of millions of its citizens subsidised bread


Wall Street flirts with records as investors grow more optimistic about Fed rate cuts

Wall Street led a mostly positive close for global stock markets on Friday, on growing investor bets that the US Federal Reserve will soon start cutting interest rates. Investor confidence was buoyed by data on Thursday showed inflation in the world's largest economy continued to ease in June as the headline consumer price index fell to 3 per cent ...


Finally, an explanation for why it's so frustrating to deal with customer service

If you've ever been at your wit's end with a customer service rep who can't help, you may be a victim of an "accountability sink."


Hyundai Motor's South Korea union approves wage deal, union says

SEOUL (Reuters) - Hyundai Motor and a union representing its South Korean workforce on Saturday sealed a wage deal that will boost annual pay by about 4.65%, the union said, avoiding a strike in the carmaker's biggest manufacturing base. The union, one of the biggest in the country with more than 43,000 members, said in a statement on Saturday that a total of 58.93% of its voting members had


Giuliani’s Bankruptcy Dismissed With $150 Million Still Owed

Rudolph Giuliani’s personal bankruptcy case was thrown out by a federal judge following nearly seven months of stalled progress, leaving the former New York City mayor without court protection from creditors owed more than $150 million.


Canada’s Freeland Hints at Broader Trade Action Against China

Canada’s finance minister said she’ll hold talks next week with business and labor groups about erecting trade barriers against Chinese-made vehicles — and suggested the government may even go beyond autos.


Meta to end restrictions on Trump's Facebook and Instagram accounts

Meta Platforms will be ending its restrictions on Donald Trump's Facebook and Instagram accounts, in keeping with what it said was its role in informing US voters in the lead-up to November's presidential election. Accounts belonging to the former president and convicted felon were suspended indefinitely by Meta's social media platforms on January ...


Boeing begins 777-9 certification flight trials with US FAA

(Reuters) -Boeing has started certification flight testing of its long-delayed 777-9 with U.S. aviation regulators onboard, the U.S. planemaker said in an emailed statement. The company said it conducted its first flight on Friday night after receiving Type Inspection Authorization (TIA). The development is a boost for Boeing, which has been grappling with production and legal issues since a Jan


EU says Musk's X is in breach of Digital Services Act and on hook for a fine

The EU has charged that Elon Musk's social media platform X is in breach of the Digital Services Act, claiming certain services lack transparency and make the company eligible for a fine. An investigation found that the technology company formerly known as Twitter has questionable practices related to its advertising, access to public data and its ...


Institutions snapping up Chinese treasury bonds are shorting the economy, state media says

SHANGHAI (Reuters) - Financial institutions snapping up Chinese government bonds are basically shorting the Chinese economy, China's central bank-backed Financial News reported on Saturday, citing what it said were the views of industry sources and experts. The report is the latest warning to the country's bond market after the People's Bank of China (PBOC) sounded concerns and introduced plans


An Amazon Flex worker explains the biggest challenges of Prime Day deliveries

An Amazon Flex worker pointed to the biggest challenges of making deliveries as an independent contractor during the massive Prime Day sales event.


Revolutionising Islamic finance: The transformative impact of blockchain technology

Blockchain offers significant benefits for Islamic finance, including enhanced transparency and the development of innovative financial products


Institutions snapping up Chinese treasury bonds are shorting the economy, state media says

SHANGHAI (Reuters) - Financial institutions snapping up Chinese government bonds are basically shorting the Chinese economy, China's central bank-backed Financial News reported on Saturday, citing what it said were the views of industry sources and experts. The report is the latest warning to the country's bond market after the People's Bank of China (PBOC) sounded concerns and introduced plans


As Argentine inflation cools to single digits, residents are still skeptical

By Miguel Lo Bianco and Noelle Harff BUENOS AIRES (Reuters) -Argentines say they are yet to feel the benefits of cooling inflation, as a five-month streak of slowing prices ended when official data on Friday showed inflation in June was higher than in May. Since President Javier Milei took power late last year, inflation has slowed dramatically in Argentina, decelerating from 25.5% in December


Turkey puts its best foot forward to charm Chinese investors

Turkey plans to draw on its geographical position and an EU customs deal to entice Chinese investors keen to access European markets tariff-free, as it recently just did with carmaker BYD. The Chinese electric vehicle giant signed a billion-dollar deal with Ankara on Monday to open a plant in western Turkey, promising to create 5,000 jobs, a move that will help it dodge new EU tariffs. But Ankara struck a customs deal with the EU in 1995 that...


What is the macroeconomic outlook for the rest of this year?

Divergences in the economic fortunes of different regions across the globe have surfaced this year. The US economy is thriving due to strong consumer spending, fiscal stimulus and a robust labour market. In contrast, Europe and Asia, particularly China, are struggling, with the country's real estate market downturn affecting its major trading partn...