Business

HSBC Reports 29% Profit Drop Amid Challenges in China and Hong Kong Kalyeena Makortoff HSBC’s profits declined by a sharper-than-expected 29% from April to June, impacted by its ties to a Chinese bank and ongoing difficulties in Hong Kong’s commercial property market. The bank, based in London, reported

As plans for new tariff increases take shape, the consequences of these policies are becoming clearer for domestic manufacturers reliant on global supply chains, with a new report indicating factory expenses may rise by approximately 2% to 4.5%. “Many of these businesses will face financial strain,” noted Chris Bangert-Drowns,

Morning updates on business, economics, and financial markets: Following agreements between the US and EU to cap tariffs at 15%, discussions with China could be next, with an extension of the trade truce described as "likely" by a senior official in the Trump administration. US Treasury Secretary Scott

A close associate of the wealthy businessman Roman Abramovich has been unsuccessful in his attempt to challenge sanctions imposed on him following Russia’s military actions in Ukraine, according to a recent supreme court ruling viewed as a significant case affecting the UK’s sanctions policy. Eugene Shvidler, who held

UK Payment Firm Wise to Shift Primary Share Listing to the US After Shareholder Approval The UK-based online payments company Wise will relocate its primary share listing to the US following overwhelming support from shareholders. Investors in Wise, one of the largest financial technology firms in the UK with a

Boeing Faces Potential Strike as Union Workers Reject Contract Offer More than 3,200 union workers at three Boeing plants near St. Louis, which manufacture U.S. fighter jets, are expected to go on strike after voting against a proposed contract that included a 20% wage increase over four years.