Economy
President Joe Biden's administration on Monday finalized a rule banning the last remaining form of asbestos in the United States, half a century after the government first targeted the cancer-causing mineral. Asbestos in oilfield brake blocks and aftermarket automotive brakes and linings will be banned six months after the rule is finalized.
Donald Trump faced having assets seized in a humiliating blow to his carefully cultivated image as a self-made tycoon as his lawyers acknowledged Monday he doesn't have the cash to appeal a $464 million fine for fraudulently inflating his wealth.
Indian-owned Tata Steel UK said Monday that it would shut down coke ovens at its Port Talbot steelworks in south Wales starting this week -- months earlier than previously announced. Tata had said in January that it was planning to shut the coke ovens and two high-emission blast furnaces in Port Talbot, the biggest steelworks in the UK, leading to the loss of up to 2,800 jobs in the Welsh town.
United Airlines is redoubling safety training following a number of incidents in recent weeks, the company's chief executive told customers Monday. United has experienced "a number of incidents" that are "unrelated" but serve as "reminders of the importance of safety," Chief Executive Scott Kirby said in an email to customers.
The World Bank is planning to give Egypt more than $6 billion in financial assistance over the next three years to help it meet its development priorities, the Washington-based lender announced Monday. "Over the coming three years, the World Bank Group intends to provide more than US$6 billion of support to Egypt," the development lender said in a statement.
The EU and Switzerland formally kicked off negotiations to deepen ties between the trade partners on Monday despite objections from the Alpine country's main political party. The EU is Switzerland's first trading partner, while Switzerland is the fourth largest trading partner for the bloc.
The performance of China's economy in the first two months of 2024 was mixed, official figures showed Monday, with sluggish household consumption alongside increased industrial production reflecting an uneven recovery.
Sisal ropes, salt crystals, volcanic rocks and aged brass: award-winning Kenyan designer Ami Doshi Shah has always chosen unlikely materials to make sophisticated jewellery that redefines value in a carat-obsessed industry.
Traders in Asia were cautious on Monday after US shares receded, and as anticipation builds for the Bank of Japan to finally ditch its negative interest rate. "He has previously said that policy will remain accommodative after the removal of the (negative interest rate policy) and has ruled out the possibility of successive rate hikes," Kenny noted.
Economy
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