July 4, 2024 9:36 PM
Business

Honda recalls more than 300K Accords, HR-Vs over seat belt issues

Honda is recalling more than 300,000 vehicles over faulty seat belts. In a notice filed with the National Highway Traffic Safety Administration (NHTSA) on Tuesday, the automaker said some front seat belts in 2023-2024 Accords and HR-Vs have missing pretensioner rivets. A pretensioner is the seat belt component that tightens it in place during an

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Business

The surprising history of America’s biggest holiday shopping blitz

Chances are, you or someone you know is getting ready to shop on Black Friday. The informal kickoff to the Christmas shopping season has morphed into a spectacle that helps retailers lure shoppers to their stores, sometimes as early as dawn, to get deals. About 131 million people are expected to shop Black Friday in

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Business

American spending has kept the economy going since the pandemic. It may finally be stopping, in charts

Not even two years of soaring prices and mounting interest rates have stopped Americans from opening their wallets and tapping their credit cards. The consumer’s willingness to keep paying high prices has kept the US economy relatively strong, but that attitude could soon be shifting. Some experts think the combination of high housing costs, rising

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Business

Billionaire Foxconn founder drops out of Taiwan’s presidential race

Terry Gou, the billionaire founder of major Apple supplier Foxconn, withdrew from the race to become Taiwan’s next president on Friday, just hours before the deadline to formally register as a candidate. “I have never yielded in the battlefield of international business,” Gou said in a statement, without providing a specific reason for the retreat. “For

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Business

3 Reasons Behind Bitcoin Rallying To Its Highest This Year

Here are the factors that fuelled the rally in the worlds leading cryptocurrency Bitcoin: Bitcoin, the world’s most prominent cryptocurrency, surged past $38,000 on Friday for the first time this year. The cryptocurrency gained around 1.5% on Friday to trade above the $38,000-level for the first time since May 2022 in line with gains in

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Business

Chinese tourists return with an eye on budget, safety

With family incomes squeezed by a weak Chinese economy, international travelers are cutting back on designer goods and luxury hotels. Nearly a year after Beijing said goodbye to zero-COVID — its strict policy of lockdowns and quarantines to contain the spread of the coronavirus — the Chinese public are traveling internationally again in large numbers. In the first

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Business

Argentina: Can the US dollar save the economy?

Argentina’s new right-wing populist president-elect Javier Milei has never hidden his true intentions. On the election campaign trail, he brandished an oversized $100 bill with a montage of himself on it. On camera, the 53-year-old chopped up a cardboard image of the central bank. His message was clear: Argentina needs the US dollar. And its

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Business

Cheap labor: Are tech giants exploiting Ugandans?

Young Ugandans are training the artificial intelligence software and systems of the world’s tech giants. But experts say their labor for companies such as Google and Microsoft comes far too cheap. Music plays in the background of the darkened open plan office where more than 150 young people are seated behind computer screens. There’s also the constant clicking

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Business

Wholesale prices fell 0.5% in October for biggest monthly drop since April 2020

Key Points The producer price index declined 0.5% for the month, the biggest monthly decline since April 2020. Wall Street had been expecting a 0.1% increase. The Commerce Department’s advance retail sales report for the month showed a decline of 0.1%. Wall Street had been looking for a decline of 0.2%. The Empire State Manufacturing

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Business

The market thinks the Fed is going to start cutting rates aggressively. Investors could be in for a letdown

Key Points The most recent indications on the CME Group’s FedWatch gauge point to a full percentage point of interest rate cuts by the end of 2024. This week has featured two important reports, one showing that consumer prices were unchanged and wholesale prices actually declined half a percent in October. “They’re not going to

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