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Budget impasse threatens Belgium's ruling coalition
Belgium's fragile governing coalition could be staring at collapse as Prime Minister Bart De Wever threatens to resign unless it approves a cost-cutting budget Thursday. He is calling for a series of "historic" reforms to liberalise Belgium's labour market, curb high unemployment benefits and cut back on pension costs.
BoE set for finely balanced pre-budget rate call
The Bank of England is expected to hold its key interest rate unchanged on Thursday but some analysts are not ruling out a surprise cut ahead of the UK government's annual budget. "As I take my decisions on both tax and spend, I will do what is necessary to protect families from high inflation and interest rates," Reeves told the nation in a surprise pre-budget speech in Downing Street.
Asian markets bounce from selloff as US jobs beat forecasts
Asian markets rose Thursday to claw back some of the previous day's hefty losses as investors tracked a bounce on Wall Street sparked by jobs data that soothed worries about the US economy. The rush for cover -- which tracked big losses on Wall Street -- hammered some regional giants including Japanese tech investor SoftBank and South Korean chipmakers Samsung and SK hynix.
Boeing settles with one plaintiff in 737 MAX crash trial
Boeing reached a last-minute settlement in one of two lawsuits in this week's trial in Chicago over a 2019 737 MAX crash that killed 157 people, attorneys announced Wednesday. The lawsuits stem from the March 10, 2019, flight that crashed six minutes after departing Addis Ababa for Nairobi, killing all 157 people on board.
Eyes turn to space to feed power-hungry data centers
Tech firms are floating the idea of building data centers in space and tapping into the sun's energy to meet out-of-this-world power demands in a fierce artificial intelligence race. "The idea is that it will soon make much more sense to build data centers in space than it does to build them on Earth," Starcloud chief executive Philip Johnston said at a recent tech conference in Riyadh.
US Supreme Court appears skeptical of Trump tariff legality
A majority of US Supreme Court justices appeared deeply skeptical of the legality behind a swath of Donald Trump's tariffs as they heard a landmark case Wednesday that could uphold -- or upend -- the president's economic agenda. A lower court ruled in May that he had exceeded his authority, with the case ultimately making its way to the Supreme Court.
Promotions lift McDonald's sales in tricky consumer market
Fast-food giant McDonald's scored solid sales growth Wednesday following promotions to attract struggling consumers, with company shares rising despite profits missing expectations. To secure support for the promotions from McDonald's franchisees, the company is financing half the cost of promotion, said Chief Financial Officer Ian Borden.
BMW reports rising profitability, shares jump
BMW on Wednesday reported rising profitability in the last quarter despite slowing Chinese sales and the impact of tariffs, offering some rare good news for Germany's beleaguered auto sector. - 'Volatile' chip supply - But BMW, whose brands also include Mini and Rolls-Royce, is not immune to the current turmoil in the European auto sector.
Brussels wants high-speed rail linking EU capitals by 2040
The European Commission Wednesday unveiled twin initiatives aimed at slashing transport carbon emissions across the continent -- by expanding high-speed rail links and boosting sustainable fuels for aviation and shipping.
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