The United States said it would slap 10% tariffson European-made Airbus planes and 25% duties on French wine, Scotch and Irish whiskies, and cheese from across the continent as punishment for illegal EU aircraft subsidies. The announcement came after the World Trade Organization gave Washington a green light to impose tariffs on $7.5 billion worth of EU goods annually in the long-running case, a move that threatens to ignite a tit-for-tat transatlantic trade war.
Canadian Prime Minister Justin Trudeau,trying to revive his electoral fortunes after the emergence of embarrassing photographs, used the first televised campaign debate on Wednesday to launch repeated attacks on his main rival. Polls suggest Trudeau’s left-leaning Liberals could lose power to the opposition Conservatives of Andrew Scheer on Oct. 21 amid voter unhappiness with images of Trudeau in blackface, as well as other scandals.
Hong Kong
The lawyer for an 18-year-old Hong Kong student protestershot in the chest by police was due to appear in court on his behalf on Thursday, after the teenager was charged over his role in violent demonstrations. Tony Tsang, who was shot at close range as he fought an officer with a metal pipe on Tuesday, was charged with rioting, which carries a maximum 10-year sentence, and assaulting a police officer.
China watchdog has Cathay staff 'walking on eggshells'Cathay Pacific is feeling the wrath of China’s aviation regulator after some staff members took part in or expressed support for anti-government protests. The regulator has rejected some entire crew lists without explanation, forcing Cathay to pull pilots and flight attendants off standby while it investigates social media accounts in an effort to determine which crew member has been deemed a security threat.
Investors keep their faith in Hong Kong markets despite protestsAs anti-government protesters fought pitched battles with police in Hong Kong streets last week, a group of bankers in another part of the city were busy taking in billions for the public float of the Asia unit of the world’s largest brewer. After a freeze during months of sometimes violent protests, Asia’s top financial hub looks to be back in business.
A wake-up call from the U.S. heartland has spooked Wall Street by raising fears of a recession that will push equities into a correction. After Tuesday’s dire picture on manufacturing from the Institute for Supply Management, which rattled the market, investors await Thursday’s ISM services report and Friday’s employment report to confirm or quash recession worries.
Oil company Chevron is turning to joint ventures and drilling alliances in its bid to dominate the Permian Basin after abandoning a takeover that would have made it the leading producer in the world’s biggest shale field. It is now in a race with Exxon Mobil to be the first to pump a million barrels of shale oil a day from the field in the U.S. southwest.
Ride-hailing firm Uber Technologies has launched an app called Uber Works to connect temporary workers looking to work shifts with businesses trying to plug gaps in their rosters. The app, made available only in Chicago for now, will show workers the available shifts in a certain area and help businesses that struggle to staff up during peak demand.
Walmart said on Thursday it will begin several healthcare pilot programs for its U.S. employees starting Jan. 1 as it looks for ways to cut healthcare costs - one of the largest expenses for the retailer after wages. Walmart will pilot a program that will connect patients with local doctors in an effort to cut down on its workers relying on word of mouth or social media to find a doctor.
