Markets

Nordstrom Inc reported a 53per cent fall in quarterly sales on Tuesday, as its stores were temporarily shut for about half of the reported quarter due to the COVID-19 pandemic.

A contentious new fee on mortgage refinancings for roughly half of the U.S. housing market has been delayed until Dec. 1, according to the regulator overseeing mortgage giants Fannie Mae and Freddie Mac.

Senate Democrats on Tuesday (Aug 25) unveiled a plan to tackle climate change that calls for the US government to spend more than US$400 billion a year to eliminate greenhouse gas emissions by 2050.

Oil producers cut 1.56 million barrels per day, or 84per cent of the daily output, from U.S. offshore Gulf of Mexico wells ahead of a hurricane due this week, the Department of the Interior reported on Tuesday.

American Airlines said on Tuesday its workforce will shrink by 40,000, including 19,000 involuntary cuts, in October as the COVID-19 pandemic continues to weigh on air travel, unless the government extends aid for airline employee payrolls.

REUTERS: J.Crew Group Inc said on Tuesday it expects to emerge from Chapter 11 in early September, after a bankruptcy court accepted is restructuring plan. The plan, approved by a Virginia federal court, will equitize over US$1.6 billion of secured debt, and provide for US$400 million in asset ......

Northern Dynasty Minerals Ltd shares fell more than 25 per cent on Tuesday on rising doubts the company can clear regulatory hurdles for its Pebble Mine project in Alaska, and prominent politicians said it would harm the state's salmon fishing industry.

Two affiliates of Honda Motor Co have agreed to pay US$84.2 million to settle a probe by most U.S. states into their use of Takata airbags, which compromised the safety of Honda vehicles, according to a consent order made public on Tuesday.

OTTAWA: Canada is the only member of the Five Eyes intelligence-sharing network that has not formally blocked Huawei from 5G networks, but it has effectively done just that, delaying a decision long enough to force telecom companies to exclude the Chinese gear maker. The strategy allows Canada to ......

JOHANNESBURG: Standard Chartered is suing South Africa's Land Bank to recover debts, Land Bank said on Tuesday, after the state-owned agricultural lender defaulted on repayments for debt worth 50 billion rand (US$2.97 billion) in April. South Africa's Treasury said in June it would inject 3 ...