CATEGORIES

JAPAN'S HONDA SEES DECLINING PROFITS ON SEMICONDUCTOR CRUNCH

Honda’s fiscal first quarter profit fell 33% from last year as a global computer chip shortage, a pandemic-related lockdown in China and the rising costs of raw materials hurt the Japanese automaker.

CHINA CRITICIZES US CHIP LAW AS THREAT TO TRADE

China criticized a U.S. law to encourage processor chip production in the United States and reduce reliance on Asian suppliers as a threat to trade and an attack on Chinese business.

Alibaba Revenue Beats Expectations Despite Contraction

Chinese e-commerce firm Alibaba Group Holding on Thursday beat market expectations for revenue in its quarter ended June, even as revenue was nearly flat and the company continues to grapple with the fallout from increased regulatory scrutiny and slowing economy growth.

US Proposes to Increase Refund Protections for Air Travelers

The Transportation Department is proposing to require airlines to offer passengers a refund if their flight schedule is changed significantly or the airline makes major changes to their itinerary.

TOYOTA PROFIT DOWN AS CHIPS SHORTAGE KEEPS CUSTOMERS WAITING

Toyota’s profit fell nearly 18% in the AprilJune quarter from the year before, as a semiconductor shortage that has slammed the auto industry dented production at Japan’s top automaker.

AMAZON WORKERS AT UK WAREHOUSE STOP WORK TO PROTEST PAY

More than 700 Amazon warehouse workers in England staged a protest Thursday in a dispute over pay, in the latest sign of workplace friction stoked by Britain’s cost of living crisis and a growing discontent among employees over wage and working conditions.

APPLICATIONS FOR US JOBLESS CLAIMS UP AGAIN LAST WEEK

More Americans applied for jobless benefits last week as the number of unemployed continues to rise modestly, though the labor market remains one of the strongest parts of the U.S. economy.

BARCELONA AUCTIONS NFT OF ICONIC CRUYFF GOAL FOR $693,000

Barcelona has auctioned off a digital art piece depicting an iconic goal by Johan Cruyfffor $693,000 as it seeks new revenues to battle its way out of massive debt, the Spanish club said.

CELLPHONE, WI-FI SERVICE EXPANDING ACROSS NYC SUBWAY SYSTEM

New York City’s sprawling subway system will be fully wired for cellphone and Wi-Fi service within about 10 years under a plan approved by transit officials this week.

FACEBOOK GIVES USERS NEW WAY TO SEE ALL THEIR FRIENDS’ POSTS

Facebook is rolling out an update that enables its 2 billion daily users to more easily view their friends’ posts in chronological order.

AMAZON TO RAISE PRIME FEES IN EUROPE, CITES RISING COSTS

Amazon is raising its Prime fees in Europe, the company told customers this week, days ahead of its second-quarter earnings report.

NEVADA COURT FIGHTS RAISE CAUTION FLAGS ON GREEN ENERGY PUSH

Opposition from friends, not foes, is creating potential roadblocks to President Joe Biden’s green energy agenda on federal lands in the blue-leaning, Western swing state of Nevada.

CLIMATE DISINFORMATION LEAVES LASTING MARK AS WORLD HEATS

In 1998, as nations around the world agreed to cut carbon emissions through the Kyoto Protocol, America’s fossil fuel companies plotted their response, including an aggressive strategy to inject doubt into the public debate.

HAS REMOTE WORK CHANGED THE TRAVEL LANDSCAPE?

While some workers return to the office this year, many others continue to work remotely indefinitely. This seismic shift has changed where people live and work and, increasingly, how they travel.

MICROSOFT BLAMES ECONOMIC WOES FOR MISSING PROFIT TARGETS

Microsoft on Tuesday reported fiscal fourth quarter profit of $16.7 billion, or $2.23 per share, falling short of analyst expectations for $2.29 per share — a rare disappointment from the tech giant that has consistently beat Wall Street expectations in recent years.

SENATE PASSES BILL TO BOOST COMPUTER CHIP PRODUCTION IN US

A bill designed to encourage more semiconductor companies to build chip plants in the United States passed the Senate on Wednesday as lawmakers raced to finish work on a key priority of the Biden administration.

FACEBOOK PARENT META POSTS FIRST REVENUE DECLINE IN HISTORY

Meta, the parent company of Facebook and Instagram, posted its first revenue decline in history Thursday, dragged down by a drop in ad spending as the economy falters — and as competition from rival TikTok intensifies.

FTC ACTS TO BLOCK META FROM BUYING VR COMPANY, FITNESS APP

Federal regulators took legal action to block Facebook parent Meta and CEO Mark Zuckerberg from acquiring virtual reality company Within Unlimited and its fitness app Supernatural, asserting the deal would hurt competition and violate antitrust laws.

CHINA’S DIDI GLOBAL FINED $1.2 BILLION FOR DATA VIOLATIONS

China’s internet watchdog on Thursday fined ride-hailing firm Didi Global more than 8 billion yuan ($1.2 billion) following an investigation into the company’s cybersecurity practices.

NASA AIMING FOR LATE AUGUST TEST FLIGHT OF GIANT MOON ROCKET

On the 53rd anniversary of the Apollo 11 lunar landing, NASA announced it’s shooting for a late August launch of its giant, new moon rocket.

RESEARCHERS: CHINESE-MADE GPS TRACKER HIGHLY VULNERABLE

A popular Chinese-made automotive GPS tracker used in 169 countries has severe software vulnerabilities, posing a potential danger to highway safety, national security and supply chains, cybersecurity researchers have found.

STUDY: STUDENT GAINS LAST YEAR NARROWED COVID LEARNING GAP

Despite a year of disruptions, students largely made academic gains this past year that paralleled their growth pre-pandemic and outpaced the previous school year, according to new research released from NWEA, a nonprofit research group that administers standardized tests.

VIRGIN GALACTIC PICKS MESA AS SITE FOR SPACEPLANES ASSEMBLY

Virgin Galactic announced that it has selected the Phoenix suburb of Mesa as the site where it will assemble its next class of rocket ships.

DEAL FOR $5.5B HYUNDAI PLANT IN GEORGIA NEARS FINAL APPROVAL

The local economic development agency that worked with Georgia officials in recruiting Hyundai Motor Group to build a $5.5 billion electric car plant near Savannah approved its portions of the deal Tuesday, though details of tax breaks and other incentives have yet to be disclosed.

ELECTRIC MOTORCYCLES FLOOD HAVANA AMID DIESEL SHORTAGES

The young people come and go on their electric motorcycles at this highway outside Cuba’s capital where they perform stunts and talk about their two-wheelers, which would be largely silent if it weren’t for the music blasting from speakers.

BAIDU UNVEILS LATEST AUTONOMOUS ELECTRIC VEHICLE: APOLLO RT6

Baidu, a Chinese search engine and artificial intelligence firm, unveiled its latest electric autonomous driving vehicle on Thursday.

AMAZON TO BUY PRIMARY CARE PROVIDER ONE MEDICAL FOR $3.9B

Amazon announced Thursday it will acquire the primary care organization One Medical in a deal valued roughly at $3.9 billion, marking another expansion for the retailer into health care services.

TESLA 20 PROFIT FALLS FROM 1Q, BUT IS STRONGER THAN EXPECTED

Tesla's second-quarter profit fell 32% from record levels in the first quarter as supply chain issues and pandemic lockdowns in China slowed production of its electric vehicles.

HOW TO AFFORD BIG-TICKET ITEMS FOR THE YEAR

When Brandy Baxter needed to replace her home’s entire heating and air conditioning system several years ago, she asked contractors if they offered deals at certain times of the year.

EUROPE AS A BUDGET-FRIENDLY TRAVEL OPTION? IT’S TRUE IN 2022

Flying to Europe this year might sound as absurd as opting for premium gasoline. With prices this high, is it really the right time to splurge?