India's economy grows 20.1% in April to June 2021 despite second wave
India's economy expanded by 20.1% in the April to June quarter of 2021, recording a record rebound during a severe second wave of COVID-19, according to official data.
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The latest business reporting from The Belfast Herald.
Toyota cuts production by 40% over Asian chip shortage
Toyota reduces global production quota by 40% due to renewed COVID-19 outbreaks in Asia disrupting semiconductor supply chains, particularly affecting chip manufacturing. The company had previously avoided production cuts during the pandemic.
Biden signs 72-point order targeting corporate power
President Joe Biden signed an executive order introducing tighter regulations on major corporations across multiple sectors, including Big Tech, to promote competition and consumer rights.
Bukele seeks 20% minimum wage rise amid inflation and pandemic
President Bukele requested a 20% minimum wage increase for El Salvador, citing global inflation and pandemic-related hardship. The move follows a government reshuffle that delayed IMF financing talks.
U.S. fashion retailer Gap announces that it will be closing all of its 81 stores in the United Kingdom and Ireland.
U.S. fashion retailer Gap announces that it will be closing all of its 81 stores in the United Kingdom and Ireland. The company will continue to provide an online store for British and Irish customers.
Global child labour reaches 160 million, pandemic driving rise
A report by the ILO and UNICEF indicates 160 million children are in child labour, with over half aged five to 11. The pandemic is linked to increased work hours and worsening conditions, with up to 46 million more at risk by 2022.
TC Energy terminates Keystone Pipeline project
Canadian energy company TC Energy ends the Keystone XL Pipeline project, which faced opposition from environmentalists and Native American groups over pollution and wildlife risks. The decision follows the revocation of a US permit by President Joe Biden in January 2021.
G7 agrees on minimum 15% global corporate tax rate
G7 finance ministers commit to a minimum global corporate tax rate of at least 15% to address cross-border tax avoidance by multinationals, with measures to allocate taxing rights to market countries.