Category: Business

Mazda is recalling nearly 261,000 older small cars because a plastic emblem on the steering wheel can shatter if the air bags are inflated, causing injuries. The recall covers certain Mazda 3 cars from the 2004 through 2007 model years. Mazda says in documents posted Thursday by U.S. safety regulators that the emblem can shatter […]

Tech giant Apple dropped to third place in share of the global smartphone market as economic recovery from the coronavirus pandemic drove an uptick in demand for the devices, according to preliminary data from research firm Canalys. Samsung manufactured 19% of smartphones that shipped worldwide in the second quarter of 2021, according to the firm’s […]

RBI Asks Banks to Shift from LIBOR to Alternative Reference Rates by Dec 31 The Reserve Bank on Thursday asked banks and financial institutions to use any widely accepted alternative reference rate (AAR) instead of LIBOR (London Interbank Offered Rates) as the reference rate for entering into new financial contracts. The Reserve Bank’s directive follows […]

OPEC+ ministers agreed on Sunday to boost oil supply from August to cool prices which have climbed to 2-1/2 year highs as the global economy recovers from the coronavirus pandemic. The group, which includes OPEC countries and allies like Russia, crucially agreed new production allocations from May 2022 to overcome differences between Saudi Arabia and […]

U.S. equity futures are trading lower ahead of Monday’s trading session on Wall Street after several choppy sessions last week as investors parsed a higher-than-expected inflation reading last Tuesday. A good part of the pullback on Wall Street was attributable to declines in big technology stocks, like Apple and Amazon, as well as banks and […]

As the demand for post-pandemic construction projects surges, some contractors are unable to take on additional projects or complete them on time due to an ongoing worker shortage. Construction businesses will need to hire 430,000 workers this year and 1 million within the next two years in order for the industry to keep up with […]

Consumer spending accelerated last month while the U.S. economy continued to gain momentum as COVID-19 restrictions were lifted and shoppers were met with higher prices. Retail sales, a measure of spending at restaurants, stores and online, in June rose 0.6% to $621.3 billion, according to the Commerce Department. Analysts surveyed by Refinitiv had expected a […]