The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Stocks in Asia fell Monday afternoon following an escalation in the U.S.-China trade war late last week.Asia Marketsread more
Led by CEO Steve Easterbrook, the company has already reduced a number of jobs, including the termination of a regional office in Columbus, Ohio.
In early May, McDonald's said that it would eliminate a number of roles starting in July. That would be in addition to the more than 400 employees it laid off last year, the Post reported.
"As part of our announced efforts to deliver $500 million in savings by the end of 2017, we are restructuring many aspects of our business, including an accounting function," Terri Hickey, a McDonald's spokeswoman, told CNBC. However, she declined to provide specific details of the cost-savings actions.
The company has seen two consecutive quarters of growth due, in part, to the success of all-day breakfast and combo meal promotions. However, consumer interest has waned.
"The bundled meals aren't so new anymore, and McDonald's All Day Breakfast is about six months old now," Mark Kalinowski, a Nomura analyst, told the Post in early June.
On Thursday, he lowered second-quarter estimates for McDonald's sales and second- and third-quarter estimates for profits.