The Budget will hit living standards in the short-term as the government hopes to drive economic growth in the longer-term, according to the Resolution Foundation think tank. Chancellor Rachel Reeves’ decision to increase taxes and borrowing to raise funding for public services and investment are a clear move away from the cuts set out by … Read more
TOKYO — Hello Kitty turns 50 on Friday. Befitting a pop icon at midlife, the bubble-headed, bow-wearing character’s fictional birthday has brought museum exhibits, a theme park spectacle and a national tour. And that’s just in Japan, her literal birthplace but not the one listed in her official biography. Confused? Welcome to the party. If … Read more
TOKYO — Asian shares mostly declined Thursday as investors grappled with uncertainty ahead of the United States presidential election on Nov. 5. Japan’s benchmark Nikkei 225 dipped 0.5% in early trading to 39,069.20. Australia’s S&P/ASX 200 slipped 0.3% to 8,153.20. Hong Kong’s Hang Seng rose 0.3% to 20,433.83, while the Shanghai Composite fell 0.3% to … Read more
BANGKOK — Countries in Asia will suffer worse damage from the climate crisis than other regions and are falling far behind in spending on improvements to limit the damage and adapt to changing weather patterns and natural disasters, the Asian Development Bank said in a report released Thursday. The report said financing needs in developing … Read more
WASHINGTON — The last and most consequential report on the nation’s economic health before next week’s election provided more evidence of America’s resilient growth. Whether it will make a difference to voters is an open question. The Commerce Department said Wednesday that U.S. gross domestic product, the broadest measure of economic output, expanded at a robust … Read more
New York can support at least 1,000 more licensed marijuana retail stores if the state can crack down on illicit shops and roll out a “measured” approach to legal expansion, a new industry-backed analysis claims. There are currently 222 licensed cannabis shops open in New York, but the Empire State could maintain 1,250 to 1,350 … Read more
Getty Images Lake Huron at Killarney Provincial Park, Ontario, Canada Canada has launched a new drive to get more overseas tourists to visit the country. Yet staffing shortages, wildfires and a spat with China will not make the task easy. “You can learn about nature, indigenous culture and our history,” says tour guide Jack Rivers. … Read more
NEW YORK — An ex-FTX executive who testified against the cryptocurrency firm’s founder at his trial last year was spared a prison sentence Wednesday by a federal judge who credited his substantial cooperation and late arrival in the multibillion dollar fraud. Nishad Singh, the company’s former engineering director, was sentenced in Manhattan by Judge Lewis … Read more
Starbucks’ new Chairman and CEO Brian Niccol wants customers to get their orders hand-delivered by a barista in four minutes or less, a goal that will be central as he tries to reinvigorate the company’s sagging sales. “We have to make it easier for our customers to get a cup of coffee,” Niccol said in … Read more
NEW YORK — Reddit has turned a profit for the first time as a public company. The social platform claimed a profit of $29.9 million, or 16 cents per share, for the period ending in September, and reported sales of $348.4 million, an amount surpassing the $312.8 million analysts had projected. Reddit also grew its … Read more