South African fuel prices are set for significant hikes in September, with diesel users facing the steepest increases amid rising oil prices and rand fluctuations.
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EU formally starts probe into Chinese electric cars subsidies
The European Union said Wednesday that it had "sufficient evidence" of illegal Chinese electric car subsidies as it officially launched an inquiry that has enraged Beijing.
UK supermarket Tesco says profits surge as costs drop
Britain's largest retailer Tesco on Wednesday said half-year net profit soared on slashed costs, and forecast a further slowdown in food price inflation. Tesco said food price inflation fell across the first half -- and it expects this to continue for the rest of the year.
'Zero income' after storms ravage famed Greek apple harvest
Engine revving, Greek apple farmer Thymios Economou strains to drive a pickup truck through a rock-strewn dirt road and reach his flood-stricken orchard. "There used to be an apple orchard there.
Ukraine's frontline steel industry fights to 'survive'
Wearing a heat-protective coat with hood and a visor, Sergiy peered down into a glowing orange stream of searing liquid metal at Ukraine's Zaporizhstal steel plant. Zaporizhstal is part of the Metinvest steel and mining group controlled by Rinat Akhmetov, reportedly Ukraine's richest man.
Asian markets fall on rate fears as bond yields rise
Asian markets fell across the board Wednesday following Wall Street's lead after robust US employment data and rising Treasury yields exacerbated fears that interest rates will be higher for longer. Treasury bond yields are seen as a proxy for US interest rates and are closely watched.
US jobseekers face tougher search despite robust market
For the past year, Taylor Simpson has been searching for a stable job while working part-time, but she is struggling to find a position she likes even though companies are hiring. As hiring in the United States cools, jobseekers like 24-year-old Simpson have a harder time finding suitable work, even as data suggests the labor market remains strong.
United orders 110 new planes from Boeing, Airbus
United Airlines announced Tuesday it had ordered a total of 110 new planes from Boeing and Airbus, and secured options to purchase 90 more, in a major deal signaling confidence in the aviation sector. United also announced it had secured new options for 50 more Boeing 787s and purchase rights for an additional 40 A321neos from Airbus "at the end of the decade."
Top US court weighs major curbs to power of federal regulators
The US Supreme Court on Tuesday began hearing a series of cases that could result in a generational contraction in the power of federal agencies to regulate businesses and corporate fraud.
GM reports higher Q3 sales as strike tests outlook
General Motors reported higher third-quarter US auto sales Tuesday behind robust consumer demand, notching a strong performance that will be tested by an ongoing labor strike.
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