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Analysis-China factories cut shifts and workers’ pay as US tariffs bite

By David Kirton GUANGZHOU, China (Reuters) -Mike Chai aims to cut wage costs at his kitchen cabinet factory by about 30% to remain competitive against other Chinese firms, which have stopped selling to the U.S. due to steep tariffs and are now coming after his ...
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Commonwealth Bank of Australia, Westpac cut home loan rates after RBA move

(Reuters) -Commonwealth Bank of Australia, the country’s largest lender, and Westpac Banking Corp, the third-biggest, cut their standard variable home loan rates by 25 basis points on Tuesday following the Reserve Bank of Australia’s rate cut. The central bank lowered its cash rate by 25 ...
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Peabody’s $3.8 billion bid on Anglo American mines looms next week

MELBOURNE (Reuters) -Peabody Energy is set to reveal on August 19 whether it will continue with its $3.78 billion bid for Anglo American’s Australian coking coal mines, as time ticks down for it to renegotiate a lower price for the deal. The U.S. miner ...
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China urges firms not to use Nvidia’s H20 chips, Bloomberg News reports

(Reuters) -Chinese authorities have urged local companies to avoid using Nvidia’s H20 processors, particularly for government-related purposes, Bloomberg News reported on Tuesday, citing people familiar with the matter. Authorities have sent notices to a range of firms discouraging use of the less-advanced semiconductors, with ...
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Musk says he plans to sue Apple for not featuring X or Grok among its top apps

Billionaire SpaceX, Tesla and X owner Elon Musk says he plans to sue Apple for not featuring X and its Grok artificial intelligence chatbot app in its top recommended apps in its App Store. Musk posted the comments on X late Monday, saying, “Hey ...
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Australia’s central bank cuts interest rate for third time this year to 3.6%

MELBOURNE, Australia (AP) — Australia’s central bank on Tuesday reduced its benchmark interest rate by a quarter percentage point for a third time this year to 3.6%, with inflation tamed and economic growth stalling. The Reserve Bank of Australia reduced its cash rate from 3.85%. ...
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Asian shares advance on relief that Trump is delaying higher China tariffs

TOKYO (AP) — Asian shares mostly advanced Tuesday after President Donald Trump delayed raising tariffs on China for another 90 days. Japan’s benchmark Nikkei 225 jumped 2.6% to 42,942.14, topping its past all-time record. Toyota Motor Corp.’s shares surged 3.3% and other heavyweight shares also ...
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Australia’s central bank cuts rates, still cautious about outlook

By Stella Qiu and Wayne Cole SYDNEY (Reuters) – Australia’s central bank on Tuesday cut its main cash rate by a quarter point to a two-year low of 3.60%, citing a slowdown in inflation and a looser labour market, though it ...
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Truce extended, economic data next

A look at the day ahead in European and global markets from Ankur Banerjee Japanese stocks scaled all-time highs and other regional share markets rose with the tide, buoyed by an extension of a tariff truce between the world’s two largest economies. Investor attention turns now ...
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Australia’s central bank downgrades economic outlook, productivity speed limit

SYDNEY, Aug 12 (Reuters) – Australia’s central bank on Tuesday slashed its forecasts for economic growth as it downgraded the outlook for productivity, implying lower living standards and incomes for the country’s 27 million residents. Yet the Reserve Bank of Australia also maintained its forecasts ...
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Officials are still investigating the cause of a Pennsylvania steel plant explosion that killed 2

CLAIRTON, Pa. (AP) — An explosion rocked a steel plant outside Pittsburgh on Monday, leaving two dead and 10 others injured, including a person who was rescued from the smoldering rubble after hours of being trapped. The explosion sent black smoke spiraling into the midday ...
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Cambodian migrant workers face an uncertain future as Thai border conflict drives them home

KAMRIENG, Cambodia (AP) — Hundreds of thousands of Cambodian migrant workers have been heading home from Thailand as the two countries work to keep a ceasefire in armed clashes along their border. Tensions between the countries have escalated due to disputes over pockets of land ...
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