BRICS leaders meeting in Rio de Janeiro from Sunday are expected to decry US President Donald Trump's "indiscriminate" trade tariffs, saying they are illegal and risk hurting the global economy. It warns that such measures "threaten to further reduce global trade" and are "affecting the prospects for global economic development."
Panama on Thursday lashed out at the European Union for keeping the country on its tax haven blacklist despite its efforts to crack down on tax evasion. The Caribbean island of Antigua and Barbuda was removed from the list, which was created in 2017, a year after the Panama Papers scandal, to crack down on tax evasion.
Canada's TD Bank has agreed to pay more than $3 billion in penalties for failing to adequately monitor money laundering by drug cartels, US officials said Thursday. Garland said that between January 2014 and October 2023, TD Bank failed to monitor $18.3 trillion in customer activity, allowing three money laundering networks to transfer over $670 million through TD Bank accounts.
Delta Air Lines reported higher profits Thursday despite a drag from a big information technology outage and said an anticipated November pullback in travel should lift after US elections. The big US carrier's quarterly results were dragged lower by a $380 million hit over the Crowdstrike outage, which resulted in some 7,000 flight cancellations over a five-day period in July.
More than 200 women are now in settlement talks with Harrods over alleged abuse by its former owner Mohamed Al Fayed, the upmarket London department store said Thursday. Separately, the BBC said Thursday that another 65 women had told them they were abused by Fayed, while lawyers for the Justice for Harrods Survivors group representing alleged victims said they now have more than 70 clients.
Elon Musk has been promising a car that can drive itself for years, pledging a series of reveals that never materialized. As many car makers have found, self-driving is tricky.
US consumer inflation cooled slightly less than expected last month, according to government data published Thursday, providing further evidence that price pressures are easing ahead of November's presidential election.
As the economy continues to face severe challenges, Muda Yusuf declared on Wednesday that the latest increase in gas prices is regrettably "ill timed."
About six Nigerian states attracted foreign investors between June 2023 and June 2024. A new report by NBS said Lagos led the states with $5.95bn in investments.
New French Prime Minister Michel Barnier faces a major test Thursday as he presents a deficit-slashing budget to his cabinet before submitting it to a largely hostile parliament. If the opposition parties in parliament come out against the budget draft law, the government has the option of forcing it through without a vote under article 49.3 of the French constitution.
Economy
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