SEOUL, South Korea (AP) — North Korea and China resumed freight train service Monday following a five-month hiatus, South Korean officials said, as the North struggles to revive an economy battered by the pandemic, U.N. sanctions and other factors. The reopening came after North Korean leader Kim Jong Un last month made a dubious claim to have overcome the COVID-19 pandemic and ordered an easing of the restrictions guarding against the spread of the coronavirus. South Korea’s Unification Ministr
The company has also been facing tough competition from Microsoft Corp, Citrix Systems and International Business Machines in the security software segment, with revenue in the unit falling 7.5% to $111 million from a year ago. The company said in an earnings call that cybersecurity segment revenue in the third quarter is expected to be flat year-on-year. However, revenue at the company's Internet of things (IoT) unit, which includes the QNX software for automotive customers, rose about 28% to $51 million as it signed up more customers.
LONDON (Reuters) -Turmoil in British financial markets forced mortgage lenders to temporarily withdraw and reprice products for new customers on Monday, a real-world consequence of the market volatility thrown up by finance minister Kwasi Kwarteng's mini-budget last week. Brokers said the moves were likely just the start of a big shift in Britain's mortgage market. The country's largest mortgage lender Halifax said it was withdrawing its fee-paying mortgage products - where borrowers could pay an arrangement fee in exchange for a lower interest rate - and moving to a full fee-free range.
A news report from CRI Online:
TOKYO/SEOUL (Reuters) -U.S. Vice President Kamala Harris told South Korea's prime minister on Tuesday that Washington will work to address Seoul's concerns over recently enacted electric vehicle (EV) subsidies that could disadvantage Asian automakers. The $430 billion "Inflation Reduction Act" bill enacted in August includes a host of U.S. President Joe Biden's priorities, including investments to roll back climate change and make Washington a world leader in the EV market. The law also ends subsidies for other EV models and requires that a percentage of critical minerals used in those cars' batteries come from the United States or an American free-trade partner.
TORONTO — Dye & Durham Ltd. says it is planning to buy back up to five per cent of its shares in an normal course issuer bid. The Toronto-based company says it will buy back up to 3,457,508 of its shares over the next 12 months starting on Friday. The company says it is buying back its shares because it believes that, from time to time, the market price of the shares may not fully reflect the underlying value of its business and future prospects. By buying back its shares, a company spreads its
CHAPEL HILL, N.C. (AP) — Treasury Secretary Janet Yellen warned Tuesday of economic calamity if climate change is not addressed with immediate government intervention. Joined by local business owners and prominent Democrats in North Carolina, Yellen said the increasing frequency and severity of natural disasters could create devastating short-term supply reductions of everyday goods that could cause prices to skyrocket. Supply chain disruptions like those experienced on a global scale during the
Royal Bank of Canada ("RBC") today announced that it had completed the acquisition of Brewin Dolphin Holdings PLC ("Brewin Dolphin"), a multi-award-winning wealth management firm. Brewin Dolphin will now operate as 'RBC Brewin Dolphin', as part of RBC, and will continue to be led by CEO, Robin Beer.
A group of European Union countries want to push Brussels to produce plans this week for a bloc-wide cap on the price of gas, according to a draft letter seen by Reuters. The EU proposed a package of emergency measures to tackle soaring energy prices earlier this month, but has steered clear of a gas price cap, an idea which has split the bloc's 27 member states. Countries in favour plan to step up pressure on Brussels, with a letter asking the European Commission to make proposals on a gas price cap for discussion at a meeting of EU energy ministers on Friday, followed by a legislative proposal as soon as possible.
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Les Femmes Michif Otipemisiwak / Women of the Métis Nation proudly celebrates Gender Equality Week and would like to take the time to highlight especially the roles and contributions of Métis women and gender diverse folks across Canada.
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Canada's main stock index fell on Monday to its lowest level in 18 months, including declines for resource shares and for shares of one of the country's major banks, as investors worried about the economic impact of aggressive central bank tightening. The Toronto Stock Exchange's S&P/TSX composite index ended down 153.94 points, or 0.8%, at 18,327.04. "The final week of the month and the quarter has picked up where last week left off, with stock markets in retreat, Treasury yields soaring and currency markets in turmoil," Colin Cieszynski, chief market strategist at SIA Wealth Management, said in a note.
(Reuters) -The Federal Reserve's need to bring down unacceptably high inflation will cause the jobless rate to rise but a recession is not inevitable, and there are signs price pressures may have already peaked, Boston Fed President Susan Collins said in her maiden public speech on Monday. "I do anticipate that accomplishing price stability will require slower employment growth and a somewhat higher unemployment rate," Collins told a local chamber of commerce in Boston, even as she made clear she fully supports the U.S. central bank's more aggressive push to quash price pressures running at 40-year highs.
WASHINGTON (AP) — President Joe Biden announced a new initiative Monday that would eventually allow consumers to see a more complete price on airline tickets — including baggage and change fees — before they buy, as the White House continues to search for ways to lower costs for Americans amid persistently high inflation. The White House says the proposed rule from the Transportation Department will prevent airlines from hiding the “true cost” of airline tickets, which would help consumers save
Recent profit warnings from bellwether companies like Ford Motor Co, may signal more challenges ahead for corporate America, increasing wariness for investors as the stock market deepens its sell-off. The U.S. Federal Reserve raised interest rates by three-quarters of a percentage point for a third straight time on Wednesday in its fight to combat inflation, and some analysts think the aggressive hikes could tip the economy into recession. Ford Motor warned last Monday that inflation-related supplier costs will run about $1 billion higher than expected in the current quarter, while FedEx Corp outlined on Thursday cost cuts of up to $2.7 billion after falling demand hammered first-quarter profits.
Util-Assist and SEW announced today that the companies have signed an agreement for Util-Assist to deliver system integration services to clients implementing SEW's Digital Customer Experience (CX) Platform - Smart Customer Mobile® (SCM®), Digital Workforce Experience (WX) Platform-Smart Mobile Workforce (SMW®), and Smart AI/ML Analytics Platform - Smart-iQ (SiQ).
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Chinese monetary authorities are asking local banks to revive a yuan fixing tool it abandoned two years ago as they seek to steer and defend the rapidly weakening currency, a source said on Tuesday. The source, who is familiar with the yuan rate-setting process, said monetary authorities were prodding banks to include the so-called counter-cyclical factor in their daily fixings for the tightly-managed exchange rate. It's an adjustment that 14 banks make to their yuan quotes that the People's Bank of China (PBOC) uses to set the daily reference rate, effectively introducing a bias to the fixing rate.